The Green Bay Packers and three-time MVP Aaron Rodgers have come to an agreement on a new contract. Ian Rapaport was among the first to break the story.
Packers, QB Aaron Rodgers agree to terms on reworked contract. (via @RapSheet) pic.twitter.com/6AkGISMDi1
— NFL (@NFL) July 29, 2021
While the financial aspects of the new deal have not been made public, here is what is known about the agreement between the two parties.
The Packers Have Voided the Final Year of Rodgers’ Current Deal
Aaron Rodgers’ contract now expires at the end of the 2022 season. Earlier this month, Rodgers and Davante Adams made similar Instagram posts indicating that this season would be their last in Green Bay. At the end of the 2021 season, the Packers and Rodgers will be at a crossroads.
One option would be for them to extend the deal, keeping Rodgers in Green Bay long term. This, however, does not seem likely at the moment. The more probable option is that the Packers will agree to trade Rodgers ahead of the 2022 season.
The Packers Cannot Force Rodgers to Take Less Income
As part of the agreement, the Packers cannot pursue prorated portions of Rodgers’ signing bonus. In other words, the Packers cannot convert part of his base salary to a signing bonus, nor can they extend his signing bonus over the course of the contract. Whatever the new financial number is of the agreement is what it will be for the remainder of the deal.
The Cap Hit in 2023
Due to the Packers making most of Rodgers’ 2019 salary a signing bonus, they can still take a $2.85 million cap hit even if Rodgers is not on the roster in 2023. On Rodgers’ end, he has the ability to negotiate a deal that would pay him north of $25.5 million per year after the 2022 season.
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