Preston Smith inks reported 4-year, $52.5M extension with Packers

The Green Bay Packers re-signed pass-rusher Preston Smith to an extension, the team announced Monday.

It's a four-year extension worth $52.5 million in new money, a source told NFL Network's Ian Rapoport.

Smith, who was under contract for 2022, will now receive over $65 million across five years, Rapoport adds. His deal could see him make up to $71 million over the duration of his contract.

The linebacker announced he would be signing a new contract earlier Monday on Instagram, per ESPN's Rob Demovsky.

Smith's deal is expected to lower his 2022 cap hit, which should give the Packers additional wiggle room as they work through a cap crunch. He was set to account for a $19.7-million cap charge before striking his new pact, per Spotrac.

The 29-year-old enjoyed a bounce-back campaign in 2021 after he finished with just four sacks in a disappointing 2020. Smith tallied nine sacks last season, trailing only Rashan Gary (9.5) for the team lead.