Per NFL Network's Ian Rapoport, Smith has agreed to a two-year extension with the Raiders that will keep him under contract through 2027. Smith's new deal is worth $85.5 million with $66.5 million guaranteed, according to Fox Sports' Jordan Schultz.

Geno Smith, who was traded by the Seahawks to the Raiders after contract negotiations between the two sides broke down, finally has his long-awaited new deal.

Geno Smith will be a member of the Las Vegas Raiders for the foreseeable future. The veteran quarterback, who was recently traded from the Seattle Seahawks to Las Vegas, has agreed to a two-year, $75 million extension that is worth up to $85.