Alex Smith was released from the hospital after undergoing multiple surgeries on his broken leg for repair and an infection he developed after the initial surgery, according to John Keim and Adam Schefter of ESPN.
There is optimism Smith can return to football, according to the report. However, his return to football is still uncertain. And for that, the Redskins will certainly prepare for all angles, as they are reportedly set to survey the quarterback market with the uncertainty of Smith.
Unfortunately, Smith’s contract may complicate matters. After being acquired by the Redskins in a January trade, Smith signed a four-year extension worth $94 million with guarantees of $71 million, $55 million of which were guaranteed at signing — 2018 and 2019 salaries and a $27 million signing bonus (the additional $16 million is guaranteed through injury, which is currently set in play with the severity of Smith’s injury).
With that the Redskins are on the hook for $20.4 million cap hit for 2019.
So one more year, right? Wrong.
Smith’s 2020 salary is fully guaranteed on the fifth day the NFL’s league calendar of 2019. Only way the Redskins get out of that is releasing him before that date. However, it’s still not that simple.
If they release Smith before the fifth day of the 2019 league calendar, the Redskins would carry a dead cap of $42 million for the 2019 season. That’s approximately 22.5 percent of the Redskins’ projected $187 million salary cap — a lot of money committed for a player no longer on the roster, pending his release.
So with that, the Redskins are tied to Smith through the 2020 season — two more seasons — rather he returns to the football field or not. There is a possibility to recoup some cap relief if Smith was to retire, but the reality is that’s not going to happen, he has $71 million reasons not. He’ll do all he can to return to the field at least through those two seasons.
The Redskins will have a potential out following the 2020 season. They can part ways then because there will be no more full guarantees. Washington saves $13.6 million against the cap in 2021 and $21 million in 2022 by releasing Smith. That’s most likely when the Redskins would part ways with Smith but not a moment sooner.
In the meantime, Washington will have to figure out a way to add a valuable quarterback to possibly start for any length of time Smith is out. Colt McCoy is under contract through 2019 season and carries a $3.5 million cap hit. While he suffered a broken fibula of his own, he will be ready for the start of the 2019 — might actually return this season. He honestly may be the team’s best option.
Josh Johnson, who the team signed on Dec. 5, will start Sunday for the Redskins against the Jacksonville Jaguars. It will be his first start in the NFL in seven years, but he will have a great opportunity to earn a spot whether as a starter or backup with Washington next season.
Those options are more than likely the best options with the limited cap space for free agency and the watered down group of quarterback prospects for the 2019 NFL Draft. Oregon’s Justin Herbet and Ohio State’s Dwayne Haskins lead the pack but outside of that, there’s not a whole lot of upside, according to draft pundits.
The Redskins at 6-7 may be behind the ball landing an ideal spot to select either Herbert or Haskins, so the draft may not be the best option.
Washington is tied to Smith through the 2020 season, and the salary cap ramifications will affect their options with uncertainty of him returning to the field.
