Geno Restructure?

[Double Tribble]

I had hopes we were past the kicking the can down the road stage, but apparently not.

 

[Double Tribble]

Also.... Being barely under the cap doesn't leave room to pay for Lock and other free agents.

I imagine a decent backup QB will be paid around 5 to 6 million.

I don't see where that money will come from.

As of now, I would assume that one of the QBs on the 2024 roster will be paid from the projected draft pool.

Maybe that's their plan. Probably ride with Geno and draft some middling mid round backup qb. Yay. Really exciting.

 

[sutz]

It might be. Doesn't she want to sell the the team?

There really hasn't been a lot of real indicators that she does want to sell. Most of that is conspiracy types grasping at straws and doing keyboard psychoanalyzing of her.

 

[JayhawkMike]

Unfortunately (for us), NFLPA would have some VERY choice words about such an arrangement

Why? Because Geno would get paid the exact same either way EXCEPT he’d get it sooner which most people want

 

[Bear-Hawk]

Why does NFL allow converting a roster bonus to a signing bonus increase cap space?

 

[JayhawkMike]

Why does NFL allow converting a roster bonus to a signing bonus increase cap space?

It does not increase it overall. It changes when it counts towards the cap. The bill always comes due (except for the 49ers who seem to have unlimited cap.)

 

[Lords of Scythia]

Adding before all the Geno haters chime in.

I like it. The offense was definitely NOT the biggest part of the problem last season. Give that money to Williams.

Seems unlikely they move him after this.

The Seahawks could be working to trade Smith to another team, and the interested party was either not looking to pay $22.5M, or potentially could not fit that amount into their present salary cap situation. Prior to the restructure, had a team traded for Smith before his roster bonus is due, the acquiring team would have been on the hook for a $22.5M cap hit. Now, an acquiring team would only be responsible for a cap hit of $12.9M, which would be Smith’s base salary and his workout bonus.


In addition, just as has been seen with several other trades in recent years, it’s possible the Seahawks converted the roster bonus to signing bonus at the request of an acquiring team. When the Los Angeles Rams traded for Von Miller, they sent extra draft compensation to the Denver Broncos in order for the Broncos to convert $9M of base salary to signing bonus. Similarly, when the New York Giants traded Leonard Williams to the Seahawks last fall, the Giants converted $9,352,778 of base salary to signing bonus in order to lower Williams’ cap hit for the Hawks. So, for those keeping score at home, if the Rams sent the Broncos an extra second round pick in the trade in exchange for reducing Miller’s cap hit by $9M, and the Seahawks sent the Giants an extra second round pick for reducing Williams’ cap hit by $9.353M, what would be the additional draft pick compensation Seattle could potentially be in line to demand in exchange for having lowered Smith’s cap hit by $9.6M?

 

[Bear-Hawk]

It does not increase it overall. It changes when it counts towards the cap. The bill always comes due (except for the 49ers who seem to have unlimited cap.)

The article says the Seahawks got $4.8 million more cap space by doing this. Not true?

 

[CactusJack]

The article says the Seahawks got $4.8 million more cap space by doing this. Not true?

They save $4.8 million in cap space this year (2024). They also add $4.8 million in dead cap for next year (Geno's contract).

'24: +4.8m
'25: -4.8m

So, Geno's cap number increased in 2025, from $33m to $38m.

That's how these restructures work. You defer the money.

He's not taking a pay cut. He's actually getting more of that money upfront by agreeing to do a restructure.

 

[renofox]

Unfortunately (for us), NFLPA would have some VERY choice words about such an arrangement

The ability to convert salary to signing bonus is boilerplate in all, or nearly all, NFL contracts. The time value of money makes it automatically beneficial to the player.

What makes you think Restructuring (which is NFL parlance for this action - any other action is a Renegotiation) is looked down upon by players or the NFLPA? Players getting paid early is now a bad thing?

 

[SeaWolv]

Geno will get his stats and not take you anywhere. Poor man's verison of Matt Ryan.

You mean the same Matt Ryan that took the Falcons to the Super Bowl?? I'd say that's somewhere.

 

[HawkRiderFan]

I assume the Hawks had an idea the cap increase was coming for 2024 before doing this move.

 

[Parallax]

Queen .. Coach Mike is brining Queen and he wants that pot at sweet as possible.

That wasn't Baltimore's approach. They steered clear of expensive free agents, building through the draft and free agents they could sign for cheap.

 

[Parallax]

The Seahawks could be working to trade Smith to another team, and the interested party was either not looking to pay $22.5M, or potentially could not fit that amount into their present salary cap situation. Prior to the restructure, had a team traded for Smith before his roster bonus is due, the acquiring team would have been on the hook for a $22.5M cap hit. Now, an acquiring team would only be responsible for a cap hit of $12.9M, which would be Smith’s base salary and his workout bonus.


In addition, just as has been seen with several other trades in recent years, it’s possible the Seahawks converted the roster bonus to signing bonus at the request of an acquiring team. When the Los Angeles Rams traded for Von Miller, they sent extra draft compensation to the Denver Broncos in order for the Broncos to convert $9M of base salary to signing bonus. Similarly, when the New York Giants traded Leonard Williams to the Seahawks last fall, the Giants converted $9,352,778 of base salary to signing bonus in order to lower Williams’ cap hit for the Hawks. So, for those keeping score at home, if the Rams sent the Broncos an extra second round pick in the trade in exchange for reducing Miller’s cap hit by $9M, and the Seahawks sent the Giants an extra second round pick for reducing Williams’ cap hit by $9.353M, what would be the additional draft pick compensation Seattle could potentially be in line to demand in exchange for having lowered Smith’s cap hit by $9.6M?

If that's what's happening, I'm not sure why this would be done separately and so publicly. It could have been done as part of the trade when the time came.

 

[ViktorNix]

After Geno restructures his contract Seahawks would be about $1 million over a cap of $243 million, there's reports that the cap could be closer to $250 million when announced after the combine.
Seahawks might be better off cap wise than most of us think.

Just saw on ESPN ticker that the cap is going up 13.6% to 255.4 million

 

[JayhawkMike]

I am tired of arguing about Geno but cannot believe there are any teams really interested in trading for him… but I would love for that to happen.

 

[Ozzy]

He's here to stay for this year and then it looks like an even stronger option to cut him after this year. Maybe they see next years class combined with what teams will need a guy as a better chance of getting someone they want?

 

[bigcc]

He's here to stay for this year and then it looks like an even stronger option to cut him after this year. Maybe they see next years class combined with what teams will need a guy as a better chance of getting someone they want?

That would be a monumental mistake considering this year vs next years qb class

Not to mention we aren't going to be bad enough to be drafting top 10 anyways

 

[Natethegreat]

I have no problem keeping Geno around for another year and still drafting a QB. I don't see how this precludes that. Didn't we sign Matt Flyn to a pretty good contract (at the time it was signed) before drafting Russ in the third round?

 

[Ozzy]

That would be a monumental mistake considering this year vs next years qb class

Not to mention we aren't going to be bad enough to be drafting top 10 anyways

I kind of see it the same way. This seems like the year to get a guy. I guess they still could?