Overview
- The decision comes before a March 13 trigger that would have added $8 million in guarantees, creating roughly $8 million in cap savings and about $18.5 million in dead money, per Over the Cap.
- Las Vegas tried to trade Smith in recent days but found no partner and will proceed with a release at the start of the league year barring a deal, according to multiple reports.
- Smith went 2-13 in 15 starts in 2025 with 3,025 yards, 19 touchdowns and an NFL‑high 17 interceptions as the 3-14 Raiders finished last in points and yards and allowed 55 sacks.
- The quarterback reset follows a broader overhaul that included firing Pete Carroll after the season and hiring Klint Kubiak as head coach last month.
- Smith will enter free agency when the new league year begins March 11, and multiple teams are expected to consider him as a veteran option or bridge starter.