The Seattle Seahawks appear to have their franchise quarterback — for now.
Following NFL Network’s Ian Rapoport’s report that the Seahawks want to sign Geno Smith and backup Drew Lock to new contracts past the 2022 season, head coach Pete Carroll addressed the report following the team’s loss to the Tampa Bay Buccaneers in Germany.
Carroll refused to commit to the idea, saying that the two sides will have that discussion for after the season.
“We’re not there talking about that yet,” said Carroll. “We’re in the middle of the season, and we’re doing the things we need to do. But there’s a conversation that’s coming. We understand that. Really, really pleased with our guys and think they’ve done a great job. Geno’s having a fantastic season. He showed it again tonight.”
Prior to the Seahawks’ matchup versus the Buccaneers on Sunday, November 13, Rapoport reported that Seattle wants Smith back for the 2023 season.
“Geno Smith, the surprise starter who has elevated himself into the MVP conversation, takes his Seattle team to Germany today to face the Bucs,” says Rapoport. “Sources say the hope for the organization is that Smith is their QB into the future, as well. In fact, the Seahawks want both QBs back — Smith and backup Drew Lock. They have yet to make an offer to Smith, who’s set to be a free agent in 2023, to extend his contract, and those talks will happen after the season.”
Why Seahawks Are Waiting to Discuss New Deal
Smith has emerged as one of the top quarterbacks through the first half of the 2022 season. The 32-year-old quarterback leads the league in completion percentage and ranks fifth in passing yards and interception percentage.
The veteran quarterback’s surprising elite level of play has him slotted as a potential MVP candidate and the Seahawks at a 6-4 record.
However, it’s understand that Seattle is proceeding with caution. Prior to this season, Smith had not started more than three games in a single season since 2014. Furthermore, this is Smith’s first productive season as a starting quarterback after spending nearly a decade as a journeyman backup quarterback.
Considering the Seahawks have seven more games in the regular season and Smith’s small sample size as a an elite-level quarterback, it makes sense that Seattle would wait until after the season in discussing a new deal for their starting quarterback.
Smith’s Contract Valuation is Roughly $39 Million
Based upon how Smith is playing this season, his value is worth a lot more than what he’s being paid.
The 32-year-old quarterback is earning $3.5 million this season — the most he’s ever earned in a single season in his career. That makes sense considering Smith has served as a backup quarterback since 2015 until winning the starting QB job during training camp.
But according to Over The Cap, Smith’s contract valuation is a shade under $39 million.
When considering Smith’s level of play this season combined with his lack of history of playing at an elite level, it should be interesting to see what type of deal both sides come to an agreement on when the offseason rolls around.