According to sources, NFL Network's Ian Rapoport and Tom Pelissero claimed Tuesday that Rodgers' agreement is signed. After signing, the team announced.
Last Thursday, Rodgers returned to Green Bay with a four-year deal that would make him the NFL's highest-paid player per year.
After negotiating with the Packers for a week, Rodgers will receive $50 million per year for the first three years. Rapoport observed that the agreement's two back-end cap placeholders may be renegotiated.
"We are very pleased to come to an agreement with Aaron that keeps him in Green Bay," Packers general manager Brian Gutekunst said.
"His skills on the field and locker room leadership remain important in our quest of another Super Bowl win. The arrangement lets us keep and improve our competitive roster."
In 2022, Rodgers had a base salary of $26.47 million and a salary-cap figure of $46.664 million. The new agreement raises his income this season and lowers the cap number.
Pelissero reports that the Packers' quarterback will make $42 million in 2022, $59.515 million in 2023, and $49.3 million in 2024, totaling $150.815 million.
After three years, Rodgers could retire at 41 or the Packers might renegotiate.
The revised agreement decreases Rodgers' salary charge in 2022 to $28.5 million, $18 million less than expected, giving the Packers budget flexibility to remain Super Bowl contenders.
The Packers have sought to get under the salary cap to make last-day free agency moves. Green Bay released Rodgers, Preston Smith, Za'Darius Smith, and Billy Turner.
Green Bay could only offer the back-to-back MVP a raise while keeping the NFC North winners' squad substantially intact by deferring Rodgers' hefty salary hits.