The deal was for an incredible $150M, however it lowered his cap hit significantly for 2022 ($28M) and 2023 ($31M). It was announced Thursday that there will be a change in his payout:
As part of his contract extension this offseason, Aaron Rodgers received a $40.8M bonus that was due to be paid by December 31st.
Green Bay recently tweaked the deal, paying Rodgers $20.8M by June 20th and $20M more by September 30th.
Monday will be a great day for Rodgers.
— Field Yates (@FieldYates) June 16, 2022
It appears Aaron Rodgers will get a fat paycheck on June 20. Per Ken Ingalls:
Aaron Rodgers will earn $42.0M cash in 2022, yet only $9.36 million counts on the 2022 cap
2023: $59.5M cash, $15.74M on cap
2024: $49.3M cash, $17.97M on cap
Huge built-in cap proration here! If he plays 3 years & retires the Packers end up with $76.8M dead cap over 2025-2026.
Does Rodgers play 3 more years? Probably not…
So if it ends up being 1 & Done for Rodgers, the Packers are left with “only” $40.31M of dead cap in 2023-2024.
If it’s 2 years & Done, then they are are hit with $68.21M of dead cap in 2024-2025.
Consequently, only $9M of the $42M of cash counts this year. The remaining $19M of cap hit this year is previous prorations from his last contract. That’s how it counts total of ~$28M.
In conclusion, the Green Bay Packers are looking at one possibly two more years of Rodgers under center.