The Washington Redskins and Alex Smith agreed to a four-year extension in late January. The terms and details of that contract have now been disclosed.
The Washington Redskins have their quarterback. But how much will it cost them?
On top of the loss of slot cornerback Kendall Fuller and a 2018 third-round pick, Alex Smith‘s deal with the Washington Redskins did not come cheap.
The 34-year old signal caller will command over $22 million annually from the Washington Redskins; the total dollar value of his extension comes in at around $94 million.
Smith will not be given the average dollar amount per year, however. According to Spotrac, Smith will be afforded $18.4 million in 2018, $20.4 million in 2019, $21.4 million in 2020, $24.4 million in 2021, and $26.4 million in 2022.
Smith’s deal is back-loaded, with the larger salaries coming later, but as his awarded money increases in value, so too with the money allotted to the team via salary cap. Still, down the road, Alex Smith’s deal won’t be cheap.
It’s worth noting, however, that the overwhelming majority of guaranteed money in this deal will circulate through the first three years of the deal. In 2021, Smith will have been given the entire guaranteed amount of $71 million, and thus, the team can essentially part ways with him beyond that point. If his play drops off, then the Washington Redskins could easily cut him loose and bring in his successor.
One would hope that it doesn’t come to that, however, and if Alex Smith’s early excitement is any indication, the two sides, at the very least, seem like a good fit for each other.
Of course, there hasn’t been any football played yet. In the coming months, Smith will familiarize himself with the offense and the players. And by September, he should be comfortable with his new team. Whether they achieve success in the NFC East is a different story. But early indications are very positive. The Washington Redskins should do everything in their power to win while Smith is here. Because there is money on the line.