Aaron Rodgers told the media Wednesday he had agreed to a restructured contract. We now know the details of that new contract.
Per NFL Network’s Tom Pelissero, it is essentially a 5-year deal worth $112.5 million with $75 million guaranteed. Rodgers gets a $35 million roster bonus that is due in four days and his base salary for 2023 will be $1,838,888.
Full breakdown on Aaron Rodgers’ new two-year, $75 million fully guaranteed deal:
$35 million roster bonus in 4 days
$1,838,888 2023 base salary
$38,161,1112 2024 base salaryNo-tag clause
No-trade clause https://t.co/Us1T8MpSOz— Tom Pelissero (@TomPelissero) July 26, 2023
Aaron Rodgers’ new contract is technically a five-year deal, including two option years to spread out bonus proration and create a 2023 cap number of just under $9 million. Maximum flexibility for the #Jets to build around him.
— Tom Pelissero (@TomPelissero) July 26, 2023
The remainder of the guaranteed money, a total of $38,161,112, will be his base salary for 2024. His contract also includes a non-guaranteed base salary of $37.5 million for 2025 and four additional void years for cap purposes, per Field Yates of ESPN.
Aaron Rodgers' new deal includes about a $35M pay reduction over the next two seasons compared to his old deal. A major discount for the Jets on this deal. https://t.co/XWeqo3Ugyt
— Field Yates (@FieldYates) July 26, 2023
This means his cap hits for the next two seasons are $8,838,888 for 2023 and $17,161,112 for 2024. That should currently put the Jets at about $16 million in cap space for 2023 and around the same amount for 2024.
Two other key aspects of this deal are that Rodgers has both a no-tag and a no-trade clause.
In terms of total compensation, Rodgers took a pay cut, voluntarily at that, of about $35 million over the next two seasons. When the Jets traded for Rodgers, they originally picked up and moved his $58.3 million option bonus to 2024, creating a total compensation of almost $107 million for next season.
Was told a few months ago that Aaron Rodgers’ reworked contract would make him a “folk hero” amongst #Jets fans once deal became official, which was reported at time.
Not even I saw $35m less coming. Folk hero underselling it.
— Connor Hughes (@Connor_J_Hughes) July 26, 2023
This will now give the Jets plenty of room to acquire more talent and build the roster for what should now be expected to be a two-year run, at least, with Rodgers as their quarterback.
