OLB Preston Smith reportedly restructures contract to stay with Packers
Preston Smith is staying in Green Bay.
Long thought to be a potential salary cap casualty, the outside linebacker restructured his contract to stay with the Packers.
A breakdown of the adjusted contract for #Packers OLB Preston Smith, who now sticks in GB:
— $8M salary ($200K workout bonus, $300K in 46-mans, $6.5M signing bonus, $1M base.)
— $4.4M available in sack incentives, so he can eclipse the $12M he was set to earn before the redo.— Ian Rapoport (@RapSheet) March 13, 2021
The move saves the Packers $7.25 million in cap space, roughly $750,000 less than they would have saved if they cut him. According to NFL Network’s Ian Rapoport, the deal is heavily based in incentives.
Sack incentives details for Preston Smith:
— $500K for 6 sacks.
— $750K more for 8 sacks.
— $750K more for 10 sacks.
— $1.2M more for 12 sacks.
— $1.2M more for 14 sacks.
Total possible: $4.4MSmith had 12 sacks in 2019, so it’s right there. Either way, Preston Smith stays. https://t.co/wGVZafc1We
— Ian Rapoport (@RapSheet) March 13, 2021
Smith signed with the Packers in 2019 and combined with Za’Darius Smith to give Green Bay one of the best outside rush duos in the league. Preston had 12 sacks, while Za’Darius had 13.5 sacks. While the latter was still quite productive in 2020, finishing with 12.5 sacks, the former had just four sacks.
Combined with the emergence of 2019 first-round pick Rashan Gary, it was believed that Preston Smith would be playing elsewhere in 2021. But the restructure means that, for at least one more year, the Smith Bros. will still be a thing at Lambeau Field.