According to Adam Schefter of ESPN.com, the Redskins have an agreement in place with Smith on a four-year contract extension that will run through the 2022 season. Smith will be 34 years old when the 2018 season begins in September. The deal is worth $94 million with $71 million in guarantees, per Ian Rapoport of the NFL Network. However, it’s unlikely all of that money is fully guaranteed.
Though the trade cannot become official until the start of the league year in March, the former Kansas City Chiefs quarterback was dealt to Washington in an agreement reached Tuesday night. The Chiefs will receive a third-round pick and a currently unnamed player from Washington exchange for Smith, per multiple reports.
Cousins had played under the franchise tag in each of the last two seasons for Washington. The acquisition of Smith guarantees that Cousins will hit the free agent market in March.