Alex Smith gets four-year contract extension from Redskins
The Washington Redskins clearly have a lot more confidence in Alex Smith as a quarterback than Kirk Cousins.
Word emerged via the Kansas City Star’s Terez A. Paylor on Tuesday that the Chiefs and Redskins had agreed to a trade involving Smith. The deal has two serious ramifications: Kansas City is moving forward with Patrick Mahomes as their quarterback, while Kirk Cousins will become a free agent.
Washington had spent the past couple of years unsure about what to do with Cousins and never wanted to commit to him longterm. They franchise-tagged him two years in a row, and now they will be letting him go. But what has to leave a chip on his shoulder is that Washington is giving Smith a four-year contract extension.
QB Alex Smith and Washington now have reached an agreement on a new four-year contract extension, per sources. Smith, who had one year left on his contact, tied to Washington for next five seasons. Smith gets long-term deal from Washington that Cousins could not.
— Adam Schefter (@AdamSchefter) January 31, 2018
As ESPN’s Adam Schefter says, Washington will have Smith under contract for five seasons. He is said to be receiving over $70 million in guaranteed money.
On the agreement in principle. Alex Smith will average $23.5 million per year in new money on the extension and $70 million in guarantees. Nobody will be able to review that contract for awhile because officially there is no contract. https://t.co/kY9DTZH2RT
— Chris Mortensen (@mortreport) January 31, 2018
Not only does Washington prefer to have Smith longterm over Cousins, but they also are giving up assets to Kansas City. Washington is sending a 3rd-round pick and reportedly a player to KC as part of the deal.
Smith is now under contract through the age of 38.