The NFL informed teams today that the salary cap for the 2023 season will be set at $224.8 million. That’s up $16.6 million from this year.
For the Seahawks, that means they are working with just over $31 million in cap space, which is the seventh-most in the league.
However, they will need around $10 million of that space to sign their 2023 rookie class – and another large chunk will go towards re-signing their own pending free agents.
At the top of that list is veteran quarterback Geno Smith, who’s coming off the first Pro Bowl season of his career. Spotrac is projecting that his market value is $39.3 million per year. If Seattle can’t work out a deal with Smith they may use the franchise tag in order to keep him – but that’s projected to be over $32 million this year for quarterbacks. A longer deal (two or three years) with a back-loaded structure would be ideal.
