Smith only has $500,000 in guarantees on his three-year, $15 million contract, NFL.com's Gregg Rosenthal reports.
The Eagles signed Smith and Alshon Jeffery in March to bookend slot receiver Jordan Matthews (knee), but subsequent developments -- namely a strong offseason from Nelson Agholor -- suggest the former 49er may now have to compete for a top-three spot on the depth chart. If Agholor outplays Smith during training camp and fourth-round rookie Mack Hollins appears ready to serve as a part-time deep threat, the Eagles might even consider releasing the 28-year-old speedster before he ever plays a regular-season game for them. That being said, Smith still has every opportunity to prove he's worthy of the role he was signed for.