Today has seen a flurry of moves to help the Green Bay Packers get under the salary cap. Za’Darius Smith and Billy Turner were cut, clearing millions of dollars in cap space. Additionally, Preston Smith has signed a four-year extension with the Packers, per his Instagram.
Looks like Preston Smith has signed a new contract, per his Instagram pic.twitter.com/bdq5OiuxW0
— Rob Demovsky (@RobDemovsky) March 14, 2022
How Much Is the Preston Smith Extension Worth?
According to Ian Rapoport, Smith’s new contract is worth $52.5 million. Rapoport broke down the specifics of the deal on Twitter.
The #Packers have agreed to terms with pass-rusher Preston Smith on a 4-year extension worth $52.5M in new money, source said. He gets over $65M over 5 years in all with a chance to make $71M. He gets $14M in year 1. So, one Smith brother sticks around. pic.twitter.com/uB7ga4XbzX
— Ian Rapoport (@RapSheet) March 14, 2022
Earlier in the day, Tom Silverstein had Tweeted out similar details, but did not disclose the name of the player who had signed the contract.
#Packers OLB has signed a five-year extension worth $53.5 million of new money. He can make $75 million total. By signing the deal, the Packers will save $8 million in salary cap money. He'll make $14 million in the first year and $27 million over two years. Signing bonus of $12M
— Tom Silverstein (@TomSilverstein) March 14, 2022
Preston Smith led the Packers with 9.5 sacks last season. He has seemed to flourish in Joe Barry’s defensive scheme. While Za’Darius Smith will be missed, at least Preston Smith was able to play all season. Additionally, Za’Darius’ cap hit was just going to be too high. With the uncertainty around Z’s back and the money the Packers could save by extending Preston, the choice between the two had an obvious answer.
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