The Seahawks are currently just over the 2024 salary cap, but they’ve made a move to free up some money.
Field Yates of ESPN reports that the Seahawks have restructured the contract of quarterback Geno Smith, converting his $9.6 million roster bonus into a signing bonus.
That creates $4.8 million in 2024 cap space while increasing his cap hit by the same amount in 2025.
It’s a good sign for Smith, an indication that the Seahawks want to free up some money to build the best team they can around him. The Seahawks fell just short of the playoffs at 9-8 in 2023, but they’re hoping Smith can get them to the postseason in 2024, and they’ll worry about that 2025 cap hit later.