Report: Jaylon Smith finalizing deal to join NFC championship contender

After being released by the Dallas Cowboys, reports indicate linebacker Jaylon Smith is finalizing a deal with another NFC franchise. NFL Network’s Ian Rapoport indicates that the Green Bay Packers are Smith’s preferred destination and that the Packers are finalizing a deal to be made official Thursday morning.

Jaylon Smith awaiting finalized deal

“Source: The Packers are, in fact, the likely landing spot for former Cowboys Pro Bowl linebacker Jaylon Smith. They are finalizing details,” stated Rapoport on Twitter. “The deal won’t be official until tomorrow morning. But Jaylon Smith had indicated Green Bay is where he wants to be. And the Packers beef up their linebacker corps with a former Pro Bowler.”

After Smith’s surprising release from the Cowboys on Wednesday, teams and fans around the league have been awaiting news about where he would continue his career. The Packers emerged as a favorite destination for Smith as they gain a veteran linebacker and beloved locker room presence.

Smith’s encouragement to former teammates

Smith’s release was surprising news on Tuesday, but the now former Dallas Cowboys linebacker was far from bitter on his way out.

According to Michael Gelkhen who covers the Cowboys for the Dallas Morning News, Smith gave defensive coordinator Dan Quinn a statement to read to the defense.

“It just shows you the character and type of person that he is,” linebacker Leighton Vander Esch said. “He told us we have something special going on here, and he wants us to go get it all.”

Smith’s release a financial decision

The Cowboys decision to release Smith came after failed attempts to secure a trade for the former Pro Bowler. NFL Network’s Jane Slater confirmed that the reason for his release was because the Cowboys felt their depth at linebacker and the improved play of younger players at the position made Smith’s role in the defense less important.

Had the Cowboys kept Smith and continued to use him, a potential injury would force the Cowboys to pay his injury guarantee money. By releasing him now and eating the dead cap hit, they avoid that potential outcome.

Smith’s contract still had five years and $50.75 million left on his deal. By releasing Smith, the Cowboys gained $16.6 million in dead cap spending.

In the current 2021 season, this amount is $9.8 million, $7.2 million of which is cash. In 2022 the dead cap hit will be $6.8 million.

The move will save the Cowboys nothing in this season, but it does free up about $5 million in cap space for the 2022 season.

The move by Dallas was surprising given the nature of Smith’s contract and how successful the Cowboys have been through the first four weeks of the season. Smith’s role in the defense has been reduced this season, but he has played over 75 percent of snaps for the Cowboys in two games. In week 2, Smith contributed nine total tackles, including six solo.

As Smith was entering his fifth year in the NFL, he was eligible to sign with another team immediately and did not need to go through the waiver wire.