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.

Trade Context: The Patriots' decision appears strategically motivated, especially given their recent signing of Joshua Dobbs. With Dak Prescott firmly positioned as the Cowboys' starting quarterback, this trade involved Dallas acquiring Milton for a fifth-round pick in 2025, aiming to bolster their backup options.