The Rodgers Rate: Aaron Rodgers Signs Massive Deal with Packers

It wasn’t without its fair share of drama, but the best quarterback in the National Football League has finally signed his contract.

And it is something to behold.

While the deal is reported to be $150 million over three years, Aaron Rodgers’ deal with Green Bay is a two-year deal worth a whopping $123.8 million.

Aaron Rodgers’ #Packers Extension
– 2 years, $123.8M
– $101.5M fully guaranteed at sign
– 2025-2026 option years

Cap Hits
2022: $28.5M
2023: $31.6M
2024: $40.7M

There’s $76.8M of dead cap in 2025.

Breakdown: https://t.co/Lh9Hfbp70e

— Spotrac (@spotrac) March 15, 2022

More importantly, the deal lowers Rodgers’ 2022 cap hit from $46.7 million to $28.5 million. The Packers lowered the cap hit by converting their future Hall of Fame QB’s salary into a roster bonus and adding two voidable years to the end of his deal. With the guaranteed money front-loaded and the voidable years at the end, Green Bay’s management is more or less signaling that they expect Rodgers to play for another two years at most.

This strategy is not without its risks. After all, as NFL Media’s Tom Pelissero reports, if Rodgers retires or leaves the Packers after the 2023 season, the Pack will take on a $68.205 million dead cap hit in 2024.

The tradeoff for cap savings now: If Aaron Rodgers retires or the #Packers move on after the 2023 season, they would have a $68.205 million dead cap hit on the books in 2024. https://t.co/su8MOA6evy

— Tom Pelissero (@TomPelissero) March 15, 2022

But hey, if Rodgers leads the Packers to a Super Bowl in the next two years, no one will care about the 2024 dead cap hit. To do that, though, the Packers will have to use a chunk of the cap space they just saved on Aaron Rodgers by signing his #1 receiver, Davante Adams.