The Green Bay Packers made the Aaron Rodgers contract extension official on Tuesday, and no one is happier than general manager Brian Gutekunst.
“We are very pleased to be able to come to an agreement with Aaron that keeps him in Green Bay,” Gutekunst said in an official statement.
“His play on the field and leadership in our locker room remain vital in our pursuit of another Super Bowl title. The agreement also allows us to maintain and enhance what we feel is already a very competitive roster.”
The contract is slightly different than what was originally reported as a four-year deal worth $200 million. The deal signed Tuesday is essentially a three-year deal worth $150 million, including two voidable years in 2025 and 2026. The way it is structured will create immediate cap space but carry a ton of dead money down the road.
The latter part of Gutekunst’s statement is interesting. Green Bay believes this deal will help the team continue to build to a roster that made them Super Bowl favorites just a year ago. Not all of this is just general manager talk, as Rodgers’ new contract did make it possible for the team to re-sign All-Pro linebacker De’Vondre Campbell to a five-year, $50 million deal. According to ESPN’s Jeremy Fowler, they are also having ongoing conversations with corner Rasul Douglas.
Rodgers’ salary cap number was originally going to be $46.7 million for 2022 but has now been reduced to $28.5 million. The team entered the day $21.2 million over the cap.
That can only mean the Packers aren’t done. They are still close to $8 million over the cap after using a restricted free agent tender on wide receiver Allen Lazard. Green Bay may have to make more tough decisions to get under the cap if they hope to reach a deal with Douglas, who was a breakout player on Green Bay’s defense last season. They have already let go of starting right tackle Billy Turner and premier edge rusher Za’Darius Smith.
Cornerback Jaire Alexander is a candidate for an extension, which would create some immediate cap relief. But when looking at deals being handed out to corners around the league, the Packers will probably have to make Alexander the highest-paid corner in the NFL. They also hope to work out a deal with wide receiver Davante Adams, who is also expecting to be the highest-paid player at his position. That deal is now on the back burner after negotiations hit a stalemate.
Whichever way you look at it, Green Bay is content with putting off potential salary cap issues for as long as possible. One source told Tom Silverstein of the Milwaukee Journal Sentinel that Rodgers’ dead money cap hit at the end of his new contract is at $75 million. Roster-building will be especially difficult when a quarter of the money is tied to one player.
Ultimately, the Packers will have to enter rebuild mode after Rodgers calls it quits.
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