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Source: Green Bay Packers sign pass-rusher Preston Smith to 4-year, $52.5 million extension

GREEN BAY, Wis. -- Preston Smith helped extend his career with the Green Bay Packers, and the team picked up much needed salary-cap space when they came to an agreement on a new contract Monday.

Smith, who had one year and $12.5 million left on his existing deal, signed a four-year, $52.5 million extension, a source told ESPN. Smith will make $25 million over the next two seasons with the chance to earn $31 million with incentives in 2022 and 2023 combined. The entirety of the deal could earn Smith up to $71 million over five seasons should he finish the deal and reach all of the incentives.