Raiders Commit $16.2M to Geno Smith; Jets Contribute $3.3M for 2023 Season
Geno Smith is set to play for the New York Jets during the 2023 season. However, the majority of his salary will be financed by the Las Vegas Raiders. Smith’s total earnings this year will reach $19.5 million, with the Raiders contributing a significant $16.2 million. The Jets will pay $3.3 million of his salary, meaning that the Raiders are responsible for approximately 83% of his compensation this season.
Financial Breakdown of Geno Smith’s Contract
According to NFL insider Albert Breer, this contract arrangement illustrates the Raiders’ strategic decision-making. Originally, when the Raiders traded for Smith last year, he was guaranteed $18.5 million. With this recent agreement, the Raiders are saving $2.3 million in relation to what they would have owed if they opted to release him.
Draft Picks and Additional Benefits
- Raiders trade their seventh-round pick to the Jets.
- In exchange, the Raiders receive the Jets’ sixth-round pick.
- Smith’s new contract offers him an extra $1 million compared to his previous guarantee.
This arrangement not only alleviates some financial burden for the Raiders but also provides Smith with a sense of stability regarding his team. The deal allows him to return to the Jets, where he previously played. For the Raiders, this move signals a desire to distance themselves from a contract that no longer aligns with their plans.
Conclusion
The 2023 season brings a notable shift for Geno Smith, as he will play for the Jets while the Raiders cover most of his salary. The arrangement appears beneficial for all involved, providing Smith with financial security and allowing the Raiders to reposition themselves within the league.
