Report: Geno Smith, Las Vegas Raiders agree to new two-year, $85.5 million extension

Las Vegas Raiders quarterback Geno Smith has a new deal. The two parties agreed to a notable contract extension following a blockbuster trade last month.

According to Jordan Schultz of FOX Sports, Smith’s deal is for two years and is worth $85.5 million. Of that, $66.5 million is guaranteed. Smith was reportedly asking for a deal worth $40 to $45 million annually, so this falls right in line.

Seattle traded Geno Smith to Las Vegas after contract negotiations stalled. The Seahawks sent him to the Raiders in exchange for a third-round pick in the 2025 NFL Draft.

Smith saw a career renaissance in Seattle under Pete Carroll, making back-to-back Pro Bowls under his watch. He broke out in 2022, completing 69.8% of his passes for 4,282 yards and 30 touchdowns – setting career-highs in all three categories at the time. His numbers dipped a bit in 2023 while missing two games, but he still totaled 3,624 yards and 20 touchdowns.

After Carroll’s departure, Seattle brought in Mike MacDonald as head coach and Ryan Grubb in as offensive coordinator, which resulted in more of a pass-heavy attack. Geno Smith once again had a career year, completing 70.4% of his passes for 4,320 yards and 21 touchdowns.

Now, Smith is in Las Vegas, where he has reunited with Carroll and will play under new offensive coordinator Chip Kelly. That could mean a further career resurgence.

Geno Smith trade impacts Las Vegas draft plans

The Las Vegas Raiders made a trade for a quarterback at the beginning of March in acquiring Geno Smith. With that, Mel Kiper Jr. and Field Yates think that move will definitely impact what they do with the No. 6 pick in the 2025 NFL Draft.

On ‘First Draft’, Mike Greenberg asked Kiper Jr. and Yates about the impact of the trade for Smith on Vegas’ plans for the sixth overall pick. Yates began by saying he expect the Raiders to turn their attention elsewhere than quarterback now considering Smith can now be their starter in that spot for the foreseeable future with where he is as a veteran and where the franchise believes they are as a team.

“I would actually bypass a quarterback at pick number six now with having Geno Smith on my roster,” Yates said. “Now, Geno Smith may be 35 years old but if there is ever such a thing as a quarterback who is 35 with minimal tread on his tires relative to most 35-year-old quarterback, Geno Smith would be it, right? He spent about eight seasons as basically a backup collecting dust, for parts of that as Russell Wilson’s backup because Russ never missed time in Seattle.”

On3’s Sam Gillenwater and Nick Schultz also contributed to this report.