A source told ESPN that the Green Bay Packers have made a significant long-term contract offer to Aaron Rodgers that will change the quarterback market.
The terms of a potential new contract can always change, but a three- or four-year deal would improve Green Bay’s salary cap, and Rogers, 38, will have contract clarity even after 40 years.
Just nine days before the start of the new league year, Green Bay topped the limit by more than $27 million. The Packers were expected to offer Rodgers a new deal at some point this offseason, with the dual intention of hitting the salary cap as well as providing market-level compensation to the two-time active league MVP.
The Broncos are also being put forward as a potential contender for Rodgers. A source told ESPN that Denver is ready to compete for his acquisition, either through a new contract or compensation for a draft pick.
Rodgers is weighing his options but is expected to make a decision about his future in the NFL soon. He hinted earlier on The Pat McAfee Show that he would like to make a decision before the end of the franchise tender on Tuesday, when the Packers must decide whether to use the tag on star wide receiver Davant Adams.
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Whatever Rogers decides will create extra space in the cap. If he does not play in Green Bay, the Packers will receive between $19.3 million and $26.9 million in salary cap savings, depending on the timing of the decision.
Rodgers has one year left on his contract and will be looking at $46.1 million against the ceiling, a figure that will no doubt be brought down by an extension if he decides to return. To that end, Packers Vice President of Football Operations Russ Ball negotiated a contract with Rodgers’ agent David Dunn.
Kansas City’s Patrick Mahomes is currently the highest paid quarterback in the NFL, with a $450 million contract that carries an average annual value of $45 million. Buffalo’s Josh Allen is the league’s second-highest-paid quarterback in both total value (over $258 million) and average annual value ($43.006 million).
Atlanta’s Matt Ryan is the only player in the league to have a bigger cap than Rodgers; his current deal with the Falcons is $48.7 million.
Packers general manager Brian Gutekunst said last week that Green Bay had not received any trade offers for Rodgers, stressing that “not a single person” called to inquire about the star quarterback’s availability.
One source told ESPN that the Packers will want so much in compensation – top picks in the draft and key young players – that it could be difficult for a team acquiring Rodgers to make a trade.
League sources told ESPN’s Adam Schefter last week that the Packers were not involved in any trade scenarios regarding Rodgers and are awaiting his decision.
Several league executives believe the Steelers at least made inquiries about Rodgers, but the extent of their involvement is still unclear.
The Packers started the offseason nearly $50 million above the salary cap, and that doesn’t include the contracts of Adams, linebacker De’Vondra Campbell and defenseman Rasool Douglas.
Renegotiations with left tackle David Bakhtiari, defenseman Kenny Clarke and running back Aaron Jones have now topped the limit by $27.5 million, according to ESPN Stats & Information research.
The Packers will almost certainly use the franchise tag on Adams if the long-term deal isn’t completed by 4 p.m. ET Tuesday. Green Bay wants to keep Adams whether Rodgers returns or not.
Rob Demovski of ESPN contributed to this report.