The Washington Redskins not only traded for Alex Smith but signed the 33-year-old quarterback to a 4-year contract extension.
For those who thought Alex Smith was getting a bit older, at least one team isn’t flinching at the fact that the Pro Bowl quarterback is already in his mid-thirties. Shortly after trading a reported third round pick along with cornerback Kendall Fuller to the Kansas City Chiefs for Smith, the Washington Redskins have reached agreement with Smith on a four-year contract extension.
Smith might feel unappreciated by the Chiefs to some extent as they decide to make the move to Patrick Mahomes, but he clearly has to feel wanted in the nation’s capital. Smith was on the final year of his contract with the Chiefs heading into the 2018 season, but now Washington has extended him to the tune of an additional 4 years with considerable guaranteed money.
So far sources have guaranteed money at or around $70 million plus:
The #Redskins gave QB Alex Smith a 4-year extension worth $94M, source said. He gets a whopping $71M in guarantees.
— Ian Rapoport (@RapSheet) January 31, 2018
Alex Smith will average $23.5 million per year in new money on the four-year extension with approximately $70 million in guaranteed money on the agreement between the two sides, per @mortreport. There is no official contract or paperwork so agreement in principle right now.
— Adam Schefter (@AdamSchefter) January 31, 2018
The Redskins have enjoyed the play of Kirk Cousins over the last few seasons, but even with the requisite cap space (well over $50 million) to sign him, they were ready to move on if they had another option. Smith likely represents an upgrade over Cousins, at least in the eyes of the coaching staff, which is why they’re willing to watch him move on.
Smith enjoyed a career year last year with the Chiefs as he led the NFL in passer rating and showed off a downfield accuracy that was a newer part of his repertoire with Tyreek Hill and other options available as deep threats. Smith went 50-26 as a starting quarterback for the Chiefs over the last five seasons.