Smith is one of many players who will report to training camp on July 27 fighting for a job. Both he and returning backup Josh Johnson will fight to be Eli Manning's backup, with rookie Davis Webb serving as the No. 3 in his developmental season.
Smith signed a one-year, $1.2 million deal with the Giants. Only $300,000 was guaranteed at signing. The Giants would save $787,500 in cap space if they release Smith at the end of the preseason.
Smith toiled away as the Jets' backup behind Ryan Fitzpatrick, who was horrible.