The Las Vegas Raiders are paying the vast majority of quarterback Geno Smith’s remaining salary to facilitate his trade to the New York Jets, according to Tom Pelissero of NFL Network. This financial agreement ensures that the Jets will only be responsible for a small portion of his contract, effectively acquiring the veteran signal-caller for slightly more than the league minimum.
The move allows the Jets to bolster their quarterback room with minimal impact on their salary cap for the remainder of the season. By absorbing the bulk of the financial obligation, the Raiders were able to facilitate the move and provide Smith with a new destination while clearing a roster spot in Las Vegas. Specific details regarding the draft compensation sent to the Raiders in exchange for Smith have not yet been fully detailed.
Smith, a former second-round pick, returns to the franchise that originally drafted him in 2013. He joins a New York roster looking for experienced depth at the position. Per Pelissero, the trade was contingent on this salary breakdown to make the move viable for the Jets' current cap situation.
This is a developing story. Check back for updates.
Sources & Original Reporting