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.
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.
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.
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.
Information about Rodgers’s new deal comes after the Packers quarterback announced he would be returning to Green Bay last week. NFL Network reported at the time that the four-time MVP would be signing a four-year, $200 million 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.
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