The Raiders and new quarterback Geno Smith have agreed to a new deal.

Smith, 34, will ink a two-year, $75 million extension that keeps him under contract through the 2027 season. The value of the extension can increase to up to $85 million if certain incentives are met.

The Raiders acquired Smith, who previously played for coach Pete Carroll in Seattle, from the Seahawks on March 7 for a third-round pick.

Smith signed a three-year, $75 million contract with Seattle in March 2023. He had one year left on the deal and was due a $16 million signing bonus March 16. His 2025 salary of $14.8 million was not guaranteed on his previous contract.

This is a developing story. Check back for updates.

Contact Vincent Bonsignore at [email protected]. Follow @VinnyBonsignore on X.