New York Jets' newest quarterback Aaron Rodgers will be playing on the minimum salary in 2023, but after the Green Bay Packers converted his 2023 option bonus to 2024 salary, he will be set for a big payday next season.
“It appears the Packers converted Aaron Rodgers' $58.3M 2023 option bonus into 2024 salary, which means he's scheduled to make $1.165M this year and $107.55M next year,” wrote ESPN's Dan Graziano on Thursday.
“So he'd only count $1.165M against the Jets' cap this year, and obviously they'll restructure next year. Jets can also rework Rodgers' deal THIS offseason, and I would expect that to happen so he's not just playing on the minimum in 2023.”
From the looks of things, Rodgers will have his contract reworked to more reflect his value in 2023, and because of the Packers' conversion, he will be getting paid handsomely next season as well.
Green Bay gave Rodgers a massive new contract last year, and part of the calculations of trading him this year was getting the contract off their salary cap.
Packers general manager Brian Gutekunst acknowledged that the $40.3 million in dead cap from trading their generational QB puts them tight against the cap heading into the draft, according to Pro Football Talk.
But, the team will save against the cap in 2024, making the team major players in free agency next year.
“It will certainly help us next year,” Gutekunst said, according ESPN's Rob Demovsky. “Excited to move past this part and have some assets for next year.”
Although Aaron Rodgers' contract is cheap for the Jets in 2023, he will earn it all back in 2024, and if his contract is restructured this offseason, his first two seasons in New York could be quite lucrative.
“The Jets think he'll be worth it,” wrote Michael David Smith of Pro Football Talk on Thursday. “The Packers are glad someone else is paying him.”
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