The New York Jets are looking everywhere for a new quarterback, and they might end up back with an old flame. According to reports, the team is considering a reunion with Geno Smith, whom they originally drafted back in 2013. Since Smith is expected to be released by his current team, the Raiders, he could be a relatively inexpensive option.

“The Jets will be in on the group of quarterbacks who were cut by other teams and have significant money left on their contracts, which makes them much cheaper to sign (as in, they’ll likely be signed for the minimum salary, $1.3 million). That includes Kyler Murray, Geno Smith and, if/when he’s cut, Tua Tagovailoa,” Zack Rosenblatt of The Athletic reported.

As Rosenblatt notes, contract offsets would allow a team like the Jets to sign Smith for the league minimum, making him a bargain despite the large sums remaining on his Raiders deal.

Even though Smith earned a massive $40 million last year, no one expects a new team to offer him more than the $18 million he’s already set to get. Because of how NFL contracts work, he could potentially sign with a new team for a “bargain” price of just $1.3 million, making him a very cheap addition for any team that wants him.

Geno Smith’s first run with the Jets ended years ago on a strange note after a locker-room fight left him with a broken jaw. He spent a long time as a backup for several teams before finally proving he could still play at a high level in Seattle. However, his recent time in Las Vegas was disappointing, leading to his current availability.

Bringing Smith back would be a low-cost move, but it comes with a lot of pressure. If the Jets struggle with an old draft pick leading the way, the media and fans might be very critical. Still, with a new coaching staff in place, the team might decide that a familiar face is worth the risk, especially if it helps them save money while they try to turn the franchise around. 

While Smith presents a low-cost veteran option, the Jets are also weighing a move for a younger player with higher upside, though that comes with its own financial risks, as seen in the case of Malik Willis.

The Jets might not be able to hold onto Malik Willis because of the price tag

As NFL free agency approaches, the New York Jets are searching for a new leader under center, but one prominent insider is warning against a potential bidding war for Malik Willis. Zack Rosenblatt of The Athletic recently tempered expectations regarding the Green Bay Packers’ backup, suggesting that the Jets might find the price tag too steep for such an unproven player.

While Willis has shown flashes of stardom during his time in Green Bay, Rosenblatt notes that the actual “proof” on tape is still very thin. He wrote:

“He is undoubtedly the most intriguing quarterback to come available this offseason. His tape from last season is tantalizing — he showed impressive mobility, arm strength, and command of the Packers’ offense — but there also isn’t much of that tape to go off,” Rosenblatt wrote. 

He’s started three games in the last two years in relief of Jordan Love. He was stellar in those three games, but that’s the sample size. His tenure with the Titans can pretty much be ignored. So the Jets (and other teams) will have to decide if it’s worth banking significant money ($20 million to $30 million per year, most likely) on a lottery ticket.

“That’s something the Jets just did last year with Fields. The potential for Willis to play somewhere close to this level (his EPA per attempt in 2024-25 would be far and away the best in the NFL if he qualified) is hard to ignore. The Jets would potentially be bidding against at least two teams that have coaches he’s familiar with (Dolphins and Cardinals), which would only drive the price up more.”

At first glance, Willis appears to be an ideal fit. His athleticism allows him to extend plays and create opportunities outside the pocket, and his youth suggests he still has room to grow into a long-term starter. However, his projected market value could complicate things. Reports suggest he may command more than $20 million annually, with some projections reaching as high as $44 million per year.

At that price, the Jets may be reluctant to make such a large commitment, especially since they hold three first-round picks in the 2027 NFL Draft. That draft capital gives them the flexibility to find a long-term franchise quarterback next year, making a costly investment in an unproven player like Willis an unnecessary risk.