NFL Free Agency: Smith to Jets, Tagovailoa signs
What happened
NFL free agency is underway, with Geno Smith traded to the Jets and Tua Tagovailoa signing a high-profile deal reported.
Why it matters
The Raiders are sending Smith and a seventh-round pick to the Jets for a sixth-round selection in the upcoming draft. Las Vegas will also retain most of Smith's 2026 base salary. The Jets will only pay him a little over the league minimum as a result of a restructured contract. Smith is returning to the Jets, where he began his NFL career as a second-round pick in 2013. After an unsuccessful stint with the Jets, he bounced around as a backup before finding success with the Seahawks. He now returns as a possible bridge quarterback for the Jets. The Dolphins released Tagovailoa and he signed a one-year deal with the Falcons for the veteran minimum. Miami is still responsible for the majority of his $54 million salary for 2026. Tagovailoa will compete with Michael Penix Jr. for the starting job in Atlanta. Tagovailoa's new contract with the Dolphins includes a $42 million signing bonus. In 2026, he will have a base salary of $39 million, a $15 million signing bonus, and a $250,000 workout bonus. His cap hit for 2026 is $56,267,647.
Key numbers
- Las Vegas will also retain most of Smith's 2026 base salary.
- Smith is returning to the Jets, where he began his NFL career as a second-round pick in 2013.
- Miami is still responsible for the majority of his $54 million salary for 2026.
- Tagovailoa's new contract with the Dolphins includes a $42 million signing bonus.
What happens next
- Las Vegas will also retain most of Smith's 2026 base salary.
- The Jets will only pay him a little over the league minimum as a result of a restructured contract.
- Tagovailoa will compete with Michael Penix Jr.
Sources
Quick answers
What happened in NFL Free Agency: Smith to Jets, Tagovailoa signs?
NFL free agency is underway, with Geno Smith traded to the Jets and Tua Tagovailoa signing a high-profile deal reported.
Why does NFL Free Agency: Smith to Jets, Tagovailoa signs matter?
The Raiders are sending Smith and a seventh-round pick to the Jets for a sixth-round selection in the upcoming draft. Las Vegas will also retain most of Smith's 2026 base salary. The Jets will only pay him a little over the league minimum as a result of a restructured contract. Smith is returning to the Jets, where he began his NFL career as a second-round pick in 2013. After an unsuccessful stint with the Jets, he bounced around as a backup before finding success with the Seahawks. He now returns as a possible bridge quarterback for the Jets. The Dolphins released Tagovailoa and he signed a one-year deal with the Falcons for the veteran minimum. Miami is still responsible for the majority of his $54 million salary for 2026. Tagovailoa will compete with Michael Penix Jr. for the starting job in Atlanta. Tagovailoa's new contract with the Dolphins includes a $42 million signing bonus. In 2026, he will have a base salary of $39 million, a $15 million signing bonus, and a $250,000 workout bonus. His cap hit for 2026 is $56,267,647.
