Geno says he wants to come back. Pete and John say they want him back. But johnpgilbertnfl says don’t be surprised if the contract talks drag on until mid-July.
on his resume, and that could factor in. However, Smith’s agent knows that all Geno needs to do is wait, and eventually the Hawks will have three options:Do nothing and let Smith hit free agency and start a bidding war among teams interested in his services.
Between the multiple projections for Smith to land a contract with an average annual salary in the $37.5M and the fact that it only takes one team to overpay in free agency, the franchise tag seems a very likely option. In addition, many fans have posited that the team should simply apply the franchise tag and let Geno play 2023 on a one-year, $32.416M deal.
That factor is that the $32.416M cap hit associated with the franchise tag is effective the moment the team applies the tag. That means that should the Seahawks front office extend a franchise tender to Smith prior to the deadline of 4 PM New York time on March 7, the $32.416M comes out of the cap space available for the team immediately. The big issue with that is, of course, that the Seahawks currently have just $31.
Potentially going into the red on 2023 cap space is not an immediate concern, given the ability to create space by moving on from higher priced veterans such as Gabe Jackson or Shelby Harris should they see fit. It won’t take a whole lot of moves for the team to come into compliance if the front office opts to apply the tag. However, fans have seen what free agency looks like when the Seahawks go into it with extremely limited cap space and it’s not pretty.
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