The Green Bay Packers have signed veteran outside linebacker Preston Smith to a four-year, $52.5 million extension, according to a league source not authorized to speak publicly.
Smith has a $14 million first-year payout. Smith’s five-year payout is $65 million with a maximum value of $75 million, per a league source, and he received a $12.2 million signing bonus to be paid over the five years. Smith, 29, is a former second-round draft pick from Mississippi State.
PFN Insider Tony Pauline had reported at the NFL Combine that Smith was set for a new deal soon and things were moving “quickly and smoothly.”
More free agency news and rumors around the NFL
What else is happening around the NFL as we head into the legal tampering period, which is set to begin at 12 PM ET on Monday, March 14? Here’s a rundown of what we’re hearing.
Green Bay Packers
The Packers are expected to retain veteran cornerback Rasul Douglas in free agency, according to league sources not authorized to speak publicly. Douglas and the Packers have mutual interest in extending their working relationship following an outstanding season, per sources.
The Cleveland Browns are not entirely satisfied with moving forward with Baker Mayfield as their starting quarterback, and that has prompted them to explore trade scenarios for Houston Texans three-time Pro Bowl quarterback Deshaun Watson. Additionally, they have fielded exploratory trade calls from other NFL teams about Mayfield, according to league sources not authorized to speak.
The Denver Broncos are expected to pursue Arizona Cardinals veteran pass rusher Chandler Jones as one of the top players in free agency, according to league sources not authorized to speak publicly.
Kansas City Chiefs
The Kansas City Chiefs are expected to move on from veteran defensive end Frank Clark if they can’t trade or reduce his $26.3 million salary cap figure, according to league sources not authorized to speak publicly.
New Orleans Saints, Carolina Panthers, and Seattle Seahawks
Deshaun Watson, one of the most dynamic quarterbacks in the NFL, is in heavy demand as his trade market has skyrocketed since his legal victory Friday afternoon.