Rapoport: Geno Smith to return to Seahawks in 2023, what it means
Geno Smith contract estimates, franchise tag numbers, what they should do: Seaside Joe 1412
NFL Network’s Ian Rapoport is rolling with a report on Saturday morning that the Seattle Seahawks intend to do whatever it takes to keep Geno Smith in 2023, even if they must apply the franchise tag. That carries some significant implications with the salary cap and the draft, so let’s briefly discuss what it means, if true.
“They’re going to try and work on a new deal. There is also the franchise tag available, expect them to use that if it is necessary.”
Threatening to use the franchise tag on a player is a major move and yes, the franchise tag is a “threat”. Most players would hate and should hate being tagged even though it does guarantee them a massive salary relative to most other players who play their same position in the league. But it also takes away all the leverage of being able to negotiate and holdout (essentially) for a long-term contract at a time when you might be able to get that long-term contract.
I hesitate to call that “life changing money” because it would imply that Geno getting tagged is not life changing money. I sure hope that making over $30 million in less than a year’s worth of work changes your life, Geno.
The projected 2023 franchise tag is $32,445,000 for a quarterback and $30,402,000 if the team uses a transition tag. The franchise tag virtually guarantees that the player will stay with his team, whereas the transition tag—which became famous when the Seahawks used it on Steve Hutchinson and lost him to a “poison pill” in the Vikings contract he signed—could allow Geno Smith to walk rather easily.
If Rapoport’s report is true, then the Seahawks will not be using the transition tag. And it also tells us right away what Geno Smith’s agent will be using as his negotiation starting point for a long-term contract.