The four-year contract extension signed by Green Bay Packers edge rusher Preston Smith includes a $12 million signing bonus, low base salaries for the first three seasons, big roster bonuses in each of the next two years and a pay-as-you-go structuring.
Aaron Wilson of Pro Football Network provided the details on the new deal.
Smith’s base salaries stay under $6 million in 2022, 2023 and 2024. The team put in a $7,500,000 roster bonus in 2023 and a $5,400,000 roster bonus in 2024, confirming the year-by-year structuring.
The extension drops Smith’s cap number from $19,720,588 to $11,460,588, for a total savings on the cap in 2022 of $8,260,000.