The Seattle Seahawks have restructured Geno Smith's contract, converting his $9.6 million roster bonus into a signing bonus and creating $4.8 million in 2024 salary cap space, according to a source.

The restructure will spread the $9.6 million evenly over the next two seasons, while his cap hit this season will drop from $31.2 million to $26.4 million.

The quarterback's cap hit jumps to $38.5 million, however.