Sources reveal that the Seattle Seahawks have restructured quarterback Geno Smith’s contract. His $9.6 million roster bonus has been transformed into a signing bonus, creating an additional $4.8 million in salary cap space for the 2024 season. This adjustment will distribute the bonus evenly over two years, decreasing Smith’s cap hit for the current season from $31.2 million to $26.4 million. However, his cap hit for the 2025 season will rise to $38.5 million.

Smith was originally scheduled to receive the roster bonus in March, but the contract modification allows him to receive the money earlier as a signing bonus. The Seahawks recently let a deadline pass, which made Smith’s $12.7 million base salary for 2024 fully guaranteed. This salary was initially only guaranteed for injury when Smith signed his three-year, $75 million contract last March.

Smith had a standout 2022 season, earning a Pro Bowl spot and the NFL Comeback Player of the Year award in his inaugural year as Seattle’s starting quarterback. However, his performance dipped slightly in the subsequent season, with a decrease in touchdown passes and a decline in various statistical areas. Despite this, he was still able to secure a Pro Bowl spot as an injury replacement this year.

Recent changes in Seattle’s leadership, including Mike Macdonald becoming head coach and general manager John Schneider gaining final authority on personnel decisions, have cast doubt on Smith’s future with the Seahawks. His fluctuating performance and the organization’s evolving dynamics have sparked discussions about his role in the future.