Remember when the Seahawks pivoted from Geno Smith to Sam Darnold because Smith wanted too much and Darnold was signed for significantly cheaper? Less than a month later, that swap has a much different feel.
Although the initial reports of the value of a new contract are almost always flawed because (1) the agents overstate the terms to the insiders and (2) the insiders know that any regard for, you know, the truth will keep them from being first or close to it, the initial word on the Smith report points to a base two-year extension worth $75 million. Given that he was due to make $31 million in the final year of his existing contract, it becomes a three-year, $106 million deal.
The Seahawks signed Darnold to a three-year, $100.5 million deal.
Smith reportedly has a $10.5 million upside. Darnold has a $15 million upside. That puts Smith at $116.5 million in maximum earnings, and Darnold at $115.5 million.
That said, Darnold’s deal is structured to let the Seahawks escape it after one year and $37.5 million. The structure of Smith’s deal has yet to be reported.
Regardless, the two contracts look a lot more apples to apples than anyone would have expected. Smith supposedly wanted well over $40 million per year. His new-money average is $37.5 million. His total average from signing is $35.3 million.
Maybe he decided to reduce his expectations after being traded. Maybe the reunion with coach Pete Carroll softened his resolve.
Regardless, what he supposedly wanted is far different from what he reportedly got. What he reportedly got isn’t dramatically better than what the Seahawks gave to his replacement.
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