It’s official. Aaron Rodgers has signed a new contract with the Packers, setting him up to return to Green Bay next season.
After conflicting reports about whether or not the reigning MVP had inked his deal last week, the extension became official on Tuesday morning. It will make Rodgers the highest-paid quarterback in the NFL, per NFL Network’s Ian Rapoport and Tom Pelissero.
Sign up here!
Rodgers’s new contract will reportedly pay him $150.8 million over the next three years, for an average of just over $50 million per year. The first two years of the extension are fully guaranteed at signing, and are due to pay him $42 million in 2022 and just north of $59.5 million in 2023.
In 2024, Rodgers stands to make $49.3 million, though that salary is not fully guaranteed at this time. The new contract also contains two additional years that would be re-worked should the 38-year-old want to remain with the Packers beyond 2024.
After a week of going back and forth with the #Packers, Aaron Rodgers’ complicated contract pays him $50M per year over 3 years — $150M. Plus there are two low-money option years that will be replaced. https://t.co/VlnbubjhxY
— Ian Rapoport (@RapSheet) March 15, 2022
On first read of #Packers QB Aaron Rodgers’ new contract, he gets:
$42 million in 2022
$59.515M in 2023
$49.3M in 2024
So that’s $150.815M over the next three years, and the first two are fully guaranteed at signing.
— Tom Pelissero (@TomPelissero) March 15, 2022
It’s important to note that the second year of Rodgers’s extension is too sizable for the Packers to pay as a base salary. According to ESPN’s Dan Graziano, Green Bay would likely have to covert the quarterback’s money in 2023 to a signing bonus.
Aaron Rodgers’ new deal includes a guaranteed base salary of $59.465 million in 2023. Obviously if he wants to keep playing, that will have to be converted into signing bonus. The size of those numbers means the Packers and Rodgers will keep going year-to-year.
— Dan Graziano (@DanGrazianoESPN) March 15, 2022
As a part of the extension, Rodgers saved the Packers approximately $18 million in cap space in 2022, per NFL Network’s Mike Garafolo. However, his hit against the cap will steadily increase over the duration of the deal.
Now that he’s finally put pen to paper, Rodgers can finally put the rumors about his future dating back to the 2021 preseason to rest. The 38-year-old is coming off one of the best years of his career that saw him throw for 4,115 yards, 37 touchdowns and only four interceptions on his way to winning a second straight MVP.
However, the Packers came up short of a Super Bowl once again, as they were eliminated in the divisional round by the 49ers.