Hogs Haven · Mar 19, 2018
We now know the structure of Alex Smith's contract with the Redskins
February Twitter reports told us that Alex Smith’s deal would have $94m of money in the extension to go with his $17m base salary from the KC contract, making a total 5 year package of $111m. We heard that there were $71m in total guarantees.
We later heard that the deal would have $55m guaranteed at signing, and $71m guaranteed by 2019.
Today we got the information needed to figure out what the Redskins have done:
Only one structure fits all of these parameters.
The ‘Skins converted $4m of 2018 pay to signing bonus
The Redskins converted $4m of Alex Smith’s 2018 salary to signing bonus.
Net effect = 17m – 4m = base salary of $13m
27m signing bonus /5 years = 5.4m per year
