Last year was all about the Aaron Rodgers contract situation, and this offseason appears to be shaping up that way again. In an interview with the Pat McAfee show, Rodgers made it clear he was not interested in staying in Green Bay for a rebuild. That means all the focus is now once again on Rodgers’ contract and what it all means in terms of salary cap numbers if he either remains in Green Bay or ends up being traded this offseason.
Aaron Rodgers’ Contract Details and Bonuses
Ahead of the 2022 NFL season, Rodgers and the Green Bay Packers agreed to terms on a three-year, $150.815 million contract extension. The three-year extension began in 2022, with two further option years. If both options are picked up, Rodgers would be under contract until 2026.
The extension was a complicated one, containing a $40.8 million signing bonus as part of $101.515 million in full guarantees. The fully guaranteed part of the deal included Rodgers’ salary in 2022 and 2023, his signing bonus, and an option bonus worth $58.3 million in 2023. The 2023 option bonus adds the 2025 year to the deal. That option must be exercised between March 17, 2023, and Week 1 of the 2023 season.
There is then another option bonus in 2024 that is worth $47 million and exercises the final year of the contract in 2026. That becomes fully guaranteed on the fifth day of the 2024 waiver period. It is also guaranteed for injury as of the day the contract was signed.
How Will Rodgers Count Against the Packers’ Salary Cap?
As it stands, Rodgers is due to count for $31.623 million against the Packers’ salary cap in 2023. That includes the $58.3 million option bonus prorating across the deal at $14.575 million per year for the next four years. The $31.623 million cap number is made up of the following:
- Base Salary: $1.165 million
- Prorated Signing Bonus: $12.982 million
- Prorated Restructure Bonus: $2.852 million
- Prorated Option Bonus: $14.575 million
- Workout Bonus:Â $50,000
With the added option bonus of $47 million in 2024, Rodgers’ salary cap numbers for the next three years are projected to be:
- 2024: $40.702 million
- 2025:Â $59.302 million
- 2026:Â $53.452 million
What does Rodgers’ Contract Look Like if he is Traded?
A potential trade this offseason has a lot of ways it could go down, and the wording of the option bonus needing to be exercised before Week 1 is crucial. That option bonus will make a big difference to how both sides have to pay Rodgers in the event of a trade.
Firstly, with the $58.3 million option bonus being fully guaranteed, the Packers cannot realistically release Rodgers. If they did, it would cost them $99.779 million in dead money as a pre-June 1 release. If he were designated a post-June 1 release, Rodgers would count for $75.299 million against the cap in 2023 and $24.480 million in 2024.
So that leaves trading Rodgers as the only option. Let’s handle the simple part of the deal first. If Rodgers is traded before June 1, the dead money left in Green Bay would be $40.314 million. That is made up of the remaining restructure bonus of $2.852 million, as well as the remaining signing bonus proration accelerating onto the cap in 2023. If Rodgers were traded after June 1, that dead money would be split as $15.834 million in 2023 and $24.480 million in 2024.
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If the Packers had to exercise the option bonus first, then the dead money pre-June 1 would be $99.779 million, and $75.299 million as a post-June 1 trade. Both of those numbers are essentially no-go situations for Green Bay this offseason.
For the team acquiring Rodgers, unless the Packers negotiate the deal to retain some of the cap hit, they take on the remaining base salaries, the two option bonuses, a $50,000 workout bonus per year, and two $5 million roster bonuses in 2025 and 2026. As it stands, the cap numbers for the team acquiring Rodgers would be as follows:
- 2023: $15.79 million
- 2024: $32.50 million
- 2025:Â $51.10 million
- 2026:Â $45.53 million
If the team acquiring Rodgers wanted to release him next offseason before the second option bonus, it would cost them $43.725 million in dead money as a pre-June 1 cut. As a post-June 1 cut, it would be $14.575 million in dead money in 2024 and a further $29.15 million in 2025.
Rodgers’ Net Worth
Depending on the source you look at, Rodgers’ reported net worth varies from around $120 million to over $200 million.
Over the course of his career so far, Rodgers has reportedly earned a total of $305.608 million. If Rodgers simply plays out the remainder of this contract, he will have earned over $450 million in cash.
These contract values do not include any off-the-field endorsements that Rodgers has had during his career. The value of all these endorsements is not publicly reported making Rodgers’ net worth nothing more than an estimate at this stage.