NFL

Giants’ chance on Geno Smith could cost as little as $325K

It turns out Geno Smith’s deal with the Giants is not as rich as had been reported.

The actual contract is a low-risk, one-year deal by the Giants that does not even guarantee Smith’s spot on the roster. It had been reported Smith’s deal was worth $3 million, but it actually is worth at most $2 million, and Smith likely will make less than that.

The deal signed Monday has a base salary of $775,000 with $100,000 fully guaranteed. It also has a $200,000 roster bonus that was paid out Wednesday, a $25,000 workout bonus and $800,000 in play-time incentives. In addition, he has a $12,500 per-game bonus if he is active for that game. That could add up to an another $200,000, bringing the max value to $2 million.

This means Smith will be competing with Josh Johnson for the No. 2 quarterback job. That could be a tough task for Smith, who is recovering from knee surgery and may not be a full-go by training camp. If the Giants decide to part ways with him at the end of training camp, it only would cost them $325,000.

For Smith, this is a sign he is betting on himself and expects to be healthy for training camp — confident he can beat out Johnson to be Eli Manning’s backup. Teams typically have two quarterbacks active for a game, so if Smith is the No. 2 quarterback, he could hit those bonuses for being on the 46-man gameday roster even if he does not play.

Smith spent the past four years with the Jets, who drafted him in the second round of the 2013 NFL Draft. He started 30 games for the Jets, but only one in the past two years. He tore the ACL in his right knee during that start, against the Ravens last year.