marinabays The Seattle Seahawks have confirmed Gino Smith’s contract restructuring amid uncertainty over the 33-year-old quarterback’s future. marinabays
The Seattle Seahawks restructured Gino Smith’s contract by replacing the 33-year-old quarterback’s $9.6 million roster bonus with a signing and building bonus. There is $4.8 million in salary cap space in 2024, according to a report from ESPN reporter Field Yates on Thursday. ( marinabays )
The restructuring of Smith’s contract will distribute the $9.6 million evenly over the next two seasons. Meanwhile, the 33-year-old quarterback’s salary cap will drop from $31.2 million to $26.4 million. However, his salary cap value in 2025 will increase to $38.5 million.
Smith’s roster bonus is due on March 18, but he’ll get the money now in the form of a restructuring signing bonus after the Seahawks let him pass the deadline early. This month This makes the 33-year-old quarterback’s base salary of $12.7 million in 2024 fully guaranteed. That money was guaranteed against injuries in terms of the three-year, $75 million contract he signed last March.
However, Smith’s future in Seattle remains uncertain. After an up-and-down year in 2023, the power structure changed after Pete Carroll, who had been in charge of the team for 14 seasons, stepped down with Mike McDonald. The 36-year-old defensive coach of the Baltimore Ravens takes over as the new head coach.