The Seahawks have created some cap room for 2024 according to ESPN’s Field Yates, converting QB Geno Smith’s $9.6 million roster bonus into a signing bonus. The roster bonus was going to be earned on the 5th day of the league year so making the move now allows Seattle to free up $4.8 million of cap room.
Smith’s 2024 cap number dropped from $31.2 million to $26.4 million as part of the restructure. His cap number for 2025 rose from $33.7 million to $38.5 million. If Smith is cut in 2025 his dead money will now be $13.5 million. Smith still has a $12.7 million base salary that can be restructured is more cap room is needed for this year, but there is no real deadline on that conversion.
This restructure puts the Seahawks right around even with the estimated cap for 2024. They have multiple players on the roster whose contracts can be restructured for cap relief and they then have to make decisions on the roster status of Jamal Adams, Will Dissly, and Quandre Diggs. The release of all three would free up around $25 million in cap room. The Seahawks currently rank 22nd in cap space for 2024.
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