Geno Smith Contract, Salary, Bonuses, and Net Worth

What is the situation with Geno Smith's contract and salary, what could he earn this offseason, and what is his net worth?

The Seattle Seahawks gave Geno Smith another one-year contract last offseason and an opportunity to revive his career as an NFL starter. This was Smith’s fourth year in Seattle and his first chance to be a full-time starter with Russell Wilson gone. Let’s take a look at Smith’s contract situation, his outlook for potential salary as a free agent in 2023, and his net worth in terms of his NFL career earnings so far.

Geno Smith’s Contract and Salary in 2023

Smith’s current contract is a one-year deal with a base value of $3.50 million. He received a $500,000 signing bonus and a base salary of $1.26 million. There was an additional $1.69 million in bonuses in Smith’s contract. The first part of that was a $585,000 roster bonus for being on the roster in Week 1 of the 2022 NFL season. There was then an additional $50,000 workout bonus and $65,000 per week in active bonuses.

Does Smith Have any Performance Bonuses in His Contract?

On top of that base contract and those bonuses, Smith had a lot of incentives built into his contract. Here is the full list of incentives that Smith had this season:

  • Pro Bowl + 20 TD Passes: $500,000
  • Playing Time Incentives
    (Doubled due to a playoff birth)

    • 55%: $500,000
    • 65%: $500,000
    • 75%: $500,000
    • 85%: $500,000
  • Passing Yard Incentives (Non-cumulative)
    • 3,400: $250,000
    • 3,700: $500,000
    • 4,000: $1 million

Combined, the incentives in Smith’s contract totaled another $3.50 million, and Smith hit all of them in 2022, meaning his final contract value was $7 million for the season. Only $3.50 million counted against the Seahawks’ salary cap in 2022, as none of the incentives were considered likely to be earned. Therefore, the Seahawks will have Smith count $3.5 million against their salary cap next season, whether he is on the team or not.

What Could Smith Earn as a Free Agent?

It will be really intriguing to see what Smith’s contract will look like next year. He is a pending free agent this offseason, so it will be interesting to see how the Seahawks handle this situation. Smith is one of a handful of free agents that Seattle could use the franchise tag on. The projected value of the non-exclusive franchise tag is around $32.5 million.

MORE: 2023 NFL Free Agents By Position

When it comes to market value, Spotrac places Smith’s potential market value at $39.3 million per year on a two-year deal. They compared Smith’s market value to the contracts of Matthew Stafford, Derek Carr, Kirk Cousins, and Matt Ryan. Their average salary came out to $35.88 million, and Smith slightly outperformed their average performances in the metrics they identify as key.

Smith’s Net Worth

Projecting the exact net worth of a player is tough to do with little knowledge of their off-field earnings or expenses. Coming into the 2022 season, Smith’s net worth was placed at around $4-6 million. That will likely have increased a little with $7 million in earnings this past season. That places Smith’s estimated net worth at around $10 million.

From an aspect of career earnings, Smith has earned just under $14 million in total. He has received around $8 million in salary and $3 million in signing bonuses, with the remaining coming in roster bonuses and workout bonuses.

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