Aaron Rodgers takes a pay cut and agrees to a 2-year, $75 million deal with the Jets, AP source says

 

FLORHAM PARK, N.J. (AP) — Aaron Rodgers has signed a new contract with the New York Jets, and he's accepting a salary cut to help the team win a Super Bowl.

According to a person familiar with the situation, Rodgers agreed to a modified two-year, $75 million guaranteed contract with the Jets on Wednesday.

    On Wednesday, Aaron Rodgers and the New York Jets agreed to a modified two-year, $75 million guaranteed contract.

    The four-time NFL MVP's previous contract with Green Bay had over $110 million in guaranteed money outstanding.

    It looks to also confirm that his time with the Jets would likely extend beyond this season.

    Rodgers had earlier agreed to a restructured deal, which aided in the trade's progress.


On his previous contract with Green Bay, the four-time NFL MVP had roughly $110 million in guaranteed money remaining. However, Rodgers is accepting less money in New York, implying that his time with the Jets would likely extend past this season.

The individual spoke on the condition of anonymity because the organisation did not publicly disclose the deal, which would save the Jets approximately $35 million on Rodgers' pay over the next two seasons. The NFL Network reported first that the parties had agreed to a new contract that contains no-franchise tag and no-trade restrictions. The pact also includes two option years to help prorate a $35 million roster bonus Rodgers will earn on Sunday, in addition to his $1.8 million salary for this season.

The modified contract comes after Rodgers verified a ProFootballTalk rumour that he had agreed to a restructured contract on Tuesday night.

"Yeah, there's going to be something hitting probably later on today," Rodgers said.

It turned out to be a whole new contract for a guy who has often intimated he was more than just a one-year rental for New York, which hasn't gone to the Super Bowl since its last victory in 1969, led by Joe Namath.


 

"The team gave up significant pieces for it to be just a one-year deal," Rodgers stated a few hours before the contract was announced. "I am aware of it. I believe there was some understanding of this. Again, anything might happen with my body or our success this year, but I'm having a great time, so I don't view this as a one-year thing."

In April, the Jets traded the Packers a first-, second-, and sixth-round selection in this year's draughts, as well as a conditional second-round pick next year that could become a first-round pick if Rodgers plays at least 65% of the snaps. This year, Green Bay handed up first and fifth-round selections in addition to the quarterback.

Rodgers already agreed to a restructured deal, which aided in the trade's progress. He was owed a $58.3 million option bonus, but it was postponed until next year. As a result, the Jets were only had to pay Rodgers the bare minimum for his first three months with the team, which cost only $1.2 million against the salary limit, allowing the organisation to make other roster changes and additions.

However, because of the restructure, Rodgers' 2024 salary would have counted for $107.6 million against next year's limit - a massive penalty.

Instead, the Jets and Rodgers were able to reach an agreement that satisfied both parties. It also offers Jets supporters optimism that a winner may emerge soon after the franchise has missed the playoffs for the past 12 years, the NFL's longest active postseason drought.

"Change is difficult, especially when it's that drastic — 18 years in one place," Rodgers remarked of his time in Green Bay. "But if you can embrace it and lean into it, there are some really beautiful things on the other side." And thus far, the folks I've met have been wonderful, both in Jersey and in the city. And I'm really having a great time."