The Las Vegas Raiders have locked in their new quarterback, Geno Smith, with a two-year, $75 million contract extension, ensuring the veteran signal-caller remains with the team through the 2027 NFL season. The deal, which includes $66.5 million in guaranteed money, was finalized on Thursday, preventing Smith from hitting free agency next offseason and solidifying him as the franchise’s cornerstone under center.
Smith, 34, was acquired by the Raiders in a trade with the Seattle Seahawks last month, a move that saw Las Vegas part with a 2025 third-round pick to reunite the quarterback with his former coach, Pete Carroll. At the time, Smith was entering the final year of a three-year, $75 million contract he signed with Seattle in 2023, set to earn $31 million in 2025. With this extension, the Raiders have added two additional years to his tenure, bringing the total value of his commitment to three years and $106 million when factoring in the remaining 2025 salary.
The agreement comes after weeks of negotiations, with Raiders head coach Pete Carroll confirming earlier this week at the NFL’s annual meetings that the team was “working on” a long-term deal with Smith. “Geno’s excited to get going, and we’re thrilled to have him locked in,” Carroll said following the announcement. “He’s not just a bridge quarterback—he’s our guy, and we’re building around him.”
Smith’s journey to this moment has been one of resilience. After spending years as a backup following a rocky start to his career with the New York Jets, he revitalized his reputation in Seattle, earning two Pro Bowl nods and the 2022 NFL Comeback Player of the Year award. In his final season with the Seahawks in 2024, Smith threw for 4,320 yards, 21 touchdowns, and 15 interceptions, completing a career-high 70.4% of his passes. His performance caught the eye of the Raiders, who moved quickly to secure him as their answer to a quarterback carousel that has plagued the franchise since Derek Carr’s departure in 2022.
The financial terms of the extension reflect Smith’s value to a team desperate for stability at the position. With an average annual value of $37.5 million over the two new years, the deal positions him among the league’s higher-paid quarterbacks, though still below the elite tier exceeding $50 million annually. The $66.5 million in guarantees provides Smith with significant security while giving the Raiders flexibility to manage their salary cap, which currently sits at over $50 million for 2025, per Over The Cap estimates.
For Las Vegas, the signing is a clear signal of intent. After a 2024 season marred by inconsistent quarterback play from Gardner Minshew and Aidan O’Connell, the Raiders finished 29th in the NFL in points per game (18.2). Smith’s arrival, paired with offensive weapons like tight end Brock Bowers and wide receiver Jakobi Meyers, offers hope of a turnaround. The team also remains in the hunt for a No. 1 wide receiver, with rumors swirling about a potential trade or free-agent splash to complement their new quarterback.
General manager John Spytek, who joined the Raiders this offseason, praised Smith’s fit within the organization. “Geno brings leadership, experience, and a skill set that elevates everyone around him,” Spytek said. “This extension is about building a foundation we can count on for years to come.”
While the Raiders are committed to Smith as their starter, the team has not ruled out drafting a quarterback in the upcoming 2025 NFL Draft, where they hold the No. 6 overall pick. Sources indicate that Las Vegas views Smith as the present and immediate future but remains open to grooming a successor, a strategy not uncommon for teams with quarterbacks in their mid-30s.
Smith expressed his gratitude on social media shortly after the deal was reported, writing, “God is the GREATEST!! Excited to get to work and WIN with this team. Raider Nation, let’s ride!” His enthusiasm echoes the optimism surrounding the franchise as it looks to end a playoff victory drought stretching back to 2002.