After days of speculation, Aaron Rodgers' contract extension with the Green Bay Packers is official.
The team announced the deal Tuesday, and ESPN reported that it will be a three-year, $150 million deal plus two voidable years in 2025 and 2026. The void years will allow Green Bay to be flexible with the salary cap ahead of the new league year opening on Wednesday at 4 p.m. ET.
"We are very pleased to be able to come to an agreement with Aaron that keeps him in Green Bay," Packers general manager Brian Gutekunst said in a 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."
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Under the new contract, Rodgers' cap hit for 2022 will be lowered by around $18 million, according to ESPN. The 38-year-old Rodgers will make a fully guaranteed $41.95 million in 2022. He is fully guaranteed $59.465 million in 2023, and $49.25 million in 2024 as long as he avoids significant injury.
All in all, the deal essentially confirms that Rodgers will finish his career in Green Bay. The Packers would hold $68 million in dead cap if Rodgers is traded, released or retires in 2023.
The two-time reigning MVP has only elevated his play since the team drafted quarterback Jordan Love in the first round in 2020. Love was supposed to be Rodgers' successor, but that is now obviously in question following this extension.
Green Bay has made a flurry of other moves since the legal tampering period opened on Monday, reportedly re-signing key defenders De'Vondre Campbell and Preston Smith. The team cut defensive end Za'Darius Smith and O-lineman Billy Turner in an effort to get under the salary cap, which will be slightly easier after finalizing Rodgers' deal.
The Packers also still have to deal with star receiver Davante Adams, who was franchise tagged but is seeking a long-term contract. Green Bay hasn't been to the Super Bowl in 11 seasons, and securing Adams is likely the only way it can end that drought.