Geno Smith contract extension details revealed

On Thursday, quarterback Geno Smith‘s long-awaited contract extension with the Las Vegas Raiders was finally complete.

Initial details revealed the extension as a two-year deal worth up to $85.5 million, with $66.5 million guaranteed. Essentially, the deal means that Smith is under contract with the Raiders for three years at $116.5 million total. As startling as those numbers look, the first reports did not mention anything about contract structure or how the guaranteed money would be spaced out.

Raiders fans now know what Smith’s latest extension entails, and the terms are much more team-friendly than they appear on the surface.

Smith’s three-year deal does not necessarily play out that way.

According to Pro Football Talk’s Mike Florio, Smith’s extension results in his contract playing out more like a two-year deal.

“Per a source with knowledge of the terms, Smith’s 2025 compensation increased from $31 million to $40 million,” Florio wrote. “In 2026, Smith has a base salary of $26.5 million. Of that amount, $18.5 million is fully guaranteed at signing. The remaining $8 million is guaranteed for injury; it becomes fully guaranteed on the third day of the 2026 league year. In 2027, Smith is due to make a non-guaranteed salary of $39.5 million.”

The details of the contract read as though the guaranteed money is spread out over the first two seasons, giving the Raiders a clear void year in 2027 if Smith’s play declines or a younger option emerges. That said, the Raiders still have a window to move on from Smith after next season if the fit is not as seamless as they expected.

“The Raiders could still pull the plug (or trade the contract) after one season. Since he presumably wouldn’t play in 2026 for total compensation of $18.5 million, the Raiders could ultimately owe him nothing beyond the $40 million he’ll make in 2025. …Either way, the third year is an obvious team-held option. If they keep him beyond 2025, it’s a two-year, $66.5 million contract with 2027 TBD.”

With these terms, the Raiders end up in a fantastic situation. Smith gives them some legitimacy at quarterback for the next couple of seasons, but their fortunes are not directly tied to the 34-year-old (who turns 35 in October). The Raiders have courted several quarterbacks from the 2025 Draft class, leaving the door open for at least one of them to land in Las Vegas.

Smith is clearly the present for the Raiders, but the future remains shrouded in mystery.