The Green Bay Packers haven’t done anything to Aaron Rodgers’ contract this offseason. While there have been plenty of rumors and speculation, nothing has been officially completed up to this point, probably because this is a complex, multi-layered situation with so many moving parts, both in the short term and long term.
Also, just because the Packers haven’t done anything with his deal doesn’t mean they won’t. They haven’t needed to so far, possibly by design. But options remain.
Here are the two most likely reasons why the Packers haven’t done anything to the MVP’s contract yet, in no particular order:
1. The Packers want future flexibility: Not touching Rodgers’ contract now provides financial flexibility. Sure, that could mean moving on and transitioning to Jordan Love at any point after the 2021 season. But playing it year by year with an aging three-time MVP and a young first-round pick is almost certainly the team’s preferred option, especially with three years left on Rodgers’ deal. His cap hit rises to almost $40 million in 2022, but the current structure of his contract allows the team to save a lot of money on the cap by moving on after next season. Coincidentally, the 2022 season would also be Love’s third, and the team must decide on his fifth-year option following his third season. If Love is the future, the team will probably want to see him play before making the decision on his option. If Rodgers is great again, or Love isn’t it, the Packers can work on restructuring or extending Rodgers’ deal next offseason. The team, with Rodgers under contract through 2023, might just want more time to let the variables at the game’s most important position become more clear. And the team might not want to be financially tied to the older quarterback in this equation for more than a few years at a time, copying a strategy the Patriots once used successfully with Tom Brady.
2. The Packers are working on an extension: Adding years and a lot of money to a contract takes time, especially for a 37-year-old quarterback who is also the NFL’s MVP. This recalibration could take months to complete. And we have reports from as early as January suggesting the team was interested in getting something done on his deal, so this gap in time could just be the result of the negotiation process between team and player playing out. There are massive new quarterback deals to consider (Patrick Mahomes, Dak Prescott), providing leverage for Rodgers, but the Packers have to be careful about committing too much money long-term to a player of Rodgers’ age, even if he did just have an incredible season. Rodgers might be signed through 2023, but tacking on years could lower his cap hits this year and the next while smoothing out the overall effect on the cap, especially with the new television money likely to hit the cap in 2023. The Packers can be confident in Rodgers playing at an elite level for several more years, especially after he enjoyed an injury-free season playing in a quarterback-friendly offense that protected him by getting the ball out of his hand on time. Even entering his age-38 season, there is nothing to suggest Rodgers is slowing down mentally or physically. And remember, future Hall of Fame quarterbacks like Rodgers are now playing well into their 40s. An extension looks far less risky now.
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