The Green Bay Packers and New York Jets finally agreed to the terms of an Aaron Rodgers trade. Before the trade can become official, however, Rodgers and the Packers needed to come to an agreement on a new contract that would make it possible for him to be traded to New York. NFL Network‘s Tom Pelissero reported the details of the new Aaron Rodgers contract on Twitter.
Aaron Rodgers’ Contract with the Green Bay Packers Can Now Be Moved to the New York Jets
Of course, everyone is familiar with the three-year $150 million that Rodgers signed with the Packers last offseason. While Rodgers is not now taking a pay cut, he is allowing most of his remaining salary to be shifted to bonuses and taking the Packers off the hook for his 2024 money entirely:
Aaron Rodgers signed his revised contract with the #Packers before 4 p.m. ET Tuesday, per source. So everything remains on schedule: Trade papers can be filed after 4 p.m. ET today and Rodgers will officially become a member of the #Jets.
— Tom Pelissero (@TomPelissero) April 26, 2023
By reworking the deal this way, Green Bay saves $14.575M in 2023 cap space instead of getting a credit in 2024.
For at least the next couple days, Rodgers is due $1.215 million in 2023 and $107.6 million in 2024. This will obviously change.
— Tom Pelissero (@TomPelissero) April 26, 2023
“The restructure pushed all but the minimum salary and a small workout bonus into 2024, so New York will need to rework it again. Green Bay will carry a roughly $40 million dead cap hit in 2023 and Rodgers will be off the books in 2024.
“By reworking the deal this way, Green Bay saves $14.575M in 2023 cap space instead of getting a credit in 2024. For at least the next couple days, Rodgers is due $1.215 million in 2023 and $107.6 million in 2024. This will obviously change.”
According to Spotrac, the Packers now have just over $12 million in cap space. They still need to sign their draft picks this year as well as their practice squad, so it is possible more extensions (Rashan Gary perhaps) happen to help create some more space.
As for Rodgers, he will almost certainly restructure this deal with the Jets. The details of that new contract have yet to be hammered out, but will almost certainly be done sometime this offseason.
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