Getty Alex Smith #11 of the Washington Redskins.
Alex Smith has been an NFL quarterback since 2005. He played with the San Francisco 49ers from 2005-2012, and the Kansas City Chiefs from 2013-2017. In 2017, Forbes reported that he set the NFL record for “most passes to start a season without throwing an interception;” he signed with the Washington Redskins as their starting quarterback for the 2018 season. To date, he has a total of 166 games played and 34,068 yards. In the midst of his first season with the Redskins, on November 18, NFL.com reported that Alex Smith was out for the remainder of the 2018 NFL season following a broken leg that required surgery.
According to Forbes, the NFL quarterback’s estimated net worth is $41.4 million as of July 2018. Celebrity Net Worth gives him an estimated net worth of $55 million, citing his $41 million earned from salary and endorsements from June 2017 to 2018 as well as the $106.5 million they report he’s earned from NFL salary alone as of September 2018.
After fourteen seasons in the NFL, here’s what you need to know about Alex Smith’s net worth:
1. He Signed a 4-Year Deal With the Washington Redskins in 2018
According to Spotrac, when Smith signed with the Washington Redskins, leaving the Kansas City Chiefs, he “signed a 4 year, $94,000,000 contract.” Broken down, that is inclusive of “a $27,000,000 signing bonus, $71,000,000 guaranteed, and an average annual salary of $23,500,000.” They reported that his base salary for 2018 was $13 million, and would increase in million-dollar increments yearly through 2022.
Spotrac’s calculations estimate that his total NFL salary earnings, to date, are $74,825,000. When you add signing bonus, roster bonus, workout bonus, option bonus, and incentives, that number after 14 seasons is $146,475,000.
2. His Top Endorsement Deals Are With Nike & Advocare
GettyAlex Smith when he played for the Kansas City Chiefs.
According to Forbes, Smith makes about $1 million a year in “memorabilia, appearances and sponsors;” his top sponsorship deals are with Nike and Advocare, a dietary supplement marketing company.
In a video endorsement ad on Advocare’s Facebook page, Smith answered the question “Why Advocare?” by saying “The older I got, the more serious you take your lifestyle, your career. I think the more it becomes a daily thing, a year-round thing.”
3. Smith Bought a House for His Family to Live in the D.C. Area
Once Smith went to the Redskins with a four-year extension, ESPN reported that, in a press conference, Smith revealed his intention to purchase a home in Washington. Prompted by a fan who wanted to know if he was going to rent or buy near his new team’s stadium, he said “I didn’t know that was an unusual thing to do. That’s the plan.”
While the cost of the home he purchased for his family of five was not disclosed, Geico’s “NFL Digital Series” featured the Smiths and their new home before they even moved their furniture and belongings into it. In the one-minute video, he and his family give viewers a brief tour of their expansive home, including the marble-accented kitchen and big windows looking out on the trees that surround the property.
After his trade to Kansas City from San Francisco, The LA Times reported that Smith put his Monte Sereno home up for sale for just under $4 million in 2015; they say that he purchased the 4 bedroom, 4.5 bathroom home in 2011 for $3,627,500.
4. The First Car He Purchased as an NFL Quarterback Was a Chevy Tahoe
In a 2017 interview with Graham Bensinger, Smith discussed the values his parents instilled on him regarding saving and spending money. He recalls his first car, which his parents purchased for him, as “completely rusted over, but not in a cool way;” the truck is affectionately referred to as “The Red Baron.” He adds, however, that having “the worst car in the school” ultimately helped him learn from his dad what it means to earn something and have humility.
Growing up learning to budget and appreciate the things he has carried with him into adulthood, and into his NFL success. Smith told Bensinger that “when you get drafted, like a quarterback, they give you cars to drive.” After driving loaner cars for six years, he bought a Chevy Tahoe, which he still had at the time of the interview.
5. If Smith Cannot Play Next Year, He’ll Still Make Millions
Following the injury that ended Smith’s 2018 season, ESPN reported that he “is dealing with an infection caused by complications from multiple surgeries on his broken leg.” Though Washington was vague in their statement, which was primarily meant to “ask that everyone please honor the Smith family’s request for privacy at this time,” a source told ESPN that there is concern that the injury and subsequent complications could be career-ending.
Statement by the Washington Redskins:
If Smith’s complications persist and he cannot play football next year, his contract with the Redskins ensures him a rather large pay-out. According to Celebrity Net Worth, his contract extension included “a total injury guarantee of $71 million,” which they say he will get in full if he cannot play. NBC Sports reported that “the team is facing a bill of $31 million over the next two years.”