The Seattle Seahawks have restructured the contract of quarterback Geno Smith, converting his $9.6 million roster bonus into a signing bonus and creating $4.8 million in 2024 salary cap space, a source told ESPN's Field Yates on Thursday.
The restructure will spread the $9.6 million evenly over the next two seasons, while his cap hit this season will drop from $31.2 million to $26.4 million.
His 2025 cap hit escalates to $38.5 million, however. Smith's roster bonus would have initially been due March 18, but he will get the money now due to the restructured signing bonus.
The Seahawks let a deadline pass earlier this month that allowed his $12.7 million base salary for 2024 to become fully guaranteed.
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