The Seattle Seahawks quarterback agreed to a three-year, $105 million contract extension after a season that saw him win NFL Comeback Player of the Year, according to NFL Network's Ian Rapoport.
The deal comes one day before the Tuesday deadline for teams to make a decision on the franchise tag. Without an extension or the tag, the 32-year-old Smith would have been set to hit unrestricted free agency and leave the Seahawks where they were last year, looking for a replacement quarterback after the departure of a Pro Bowler.
Instead, the team will move ahead with Smith under center at the price of $35 million per season.