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Rodgers' all but guaranteed to play in 2024 (Contract Details)


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i had assumed the GB contract restructure was more of a placeholder to facilitate the trade, allowing GB to wipe their slate clean after this year and the jets to absorb rodgers with minimal cap space.  and sometime in the near future, he will restructure again to bring some of that now 2024 payment forward as a signing bonus.

are there prohibitions on restructuring the contract again so soon, meaning they can't rework his contract until next year?

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answering my own question (from the link):

Rodgers was traded to the Jets on April 26, 2023. Prior to the trade the Packers reworked the contract to carry a $1.165 million salary cap charge for 2023. That is just a placeholder to facilitate the trade and the Jets and Rodgers will work out a new contract in the days following the trade.

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1 minute ago, Sperm Edwards said:

Holy crap. This is incredible. If the 2nd/3rd years last out as delayed woulda-been 1st/2nd years here, the (effectively) free 1st year makes the contract year to year, for as long as he wants to play:

1 year $1MM

2 years $59MM ($30MM/yr)

3 years $107MM ($36MM/yr)

Previously was:

1 year $59MM

2 years $107MM ($54MM/year)

 

So this isn’t just a restructuring — it’s an enormous pay concession by Rodgers. 

And every year the CAP goes up, allowing the future $ to be less impactful to operations. This is great news, putting off the "retirement" anxiety for next year and maybe even '25 if JD can keep things fun (aka winning) for Rodgers

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6 minutes ago, Pac said:

I think this is still in a state of flux.  My understanding from what I've read is we won't get a definitive answer on how it really looks for a bit. 

-----  Aaron Rodgers did his new team a solid by restructuring his massive contract, allowing the New York Jets to execute the blockbuster trade without having to make significant moves to stay under the salary cap.Before the trade, Rodgers and the Green Bay Packers converted a $58.3 million option bonus, payable in 2023, into a 2024 base salary, a source told ESPN's Dan Graziano. As a result, he's making only $1.165 million this season -- the base-salary minimum. That also represents his cap charge.

Under his previous contract -- the three-year, $150 million extension from last year -- the Jets would've inherited a $15.8 million cap charge.That's relatively low for a player of his stature, but it would've put the Jets several million dollars over the cap. By pushing the $58.3 million option bonus into next year -- the bonus is fully guaranteed -- Rodgers' 2024 compensation balloons to $107.55 million. That consists of an original $47 million option bonus, plus $1.21 million in minimum salary, plus the $58.3 million bonus from this year.

** rest of above article   >  https://www.espn.com/nfl/story/_/id/36302941/source-aaron-rodgers-contract-restructure-helps-jets-cap

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1 minute ago, jtomm said:

-----  Aaron Rodgers did his new team a solid by restructuring his massive contract, allowing the New York Jets to execute the blockbuster trade without having to make significant moves to stay under the salary cap.Before the trade, Rodgers and the Green Bay Packers converted a $58.3 million option bonus, payable in 2023, into a 2024 base salary, a source told ESPN's Dan Graziano. As a result, he's making only $1.165 million this season -- the base-salary minimum. That also represents his cap charge.

Under his previous contract -- the three-year, $150 million extension from last year -- the Jets would've inherited a $15.8 million cap charge.That's relatively low for a player of his stature, but it would've put the Jets several million dollars over the cap. By pushing the $58.3 million option bonus into next year -- the bonus is fully guaranteed -- Rodgers' 2024 compensation balloons to $107.55 million. That consists of an original $47 million option bonus, plus $1.21 million in minimum salary, plus the $58.3 million bonus from this year.

** rest of above article   >  https://www.espn.com/nfl/story/_/id/36302941/source-aaron-rodgers-contract-restructure-helps-jets-cap

 

 

yes, but the critical parts are:

The Jets and Rodgers' agent, David Dunn, already are having discussions about restructuring the deal again, Rodgers confirmed after Wednesday's news conference. Chances are, he will have a new deal in place by training camp.

Rodgers, 39, didn't commit to playing in 2024, but he strongly hinted that he plans to, saying, "They definitely gave up some picks for me to be here, so this isn't like one-and-done in my mind."

The compensation package included a 2023 second-round pick and a 2024 conditional second-rounder that improves to a first-rounder if he plays at least 65% of the offensive snaps.

For now, though, the placeholder contract allows the Jets cap room to sign draft picks and pursue free agents. They are $7.4 million under the cap, according to NFLPA data. On Wednesday, they created about $3.5 million in space by tweaking defensive end John Franklin-Myers' contract, a source told ESPN's Field Yates.

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6 minutes ago, slimjasi said:

But Douglas is a easily the best GM we have had in my lifetime. He’s made mistakes, but he has us on a path towards relevancy and he has managed to draft some terrific players and just got us the best QB we have ever had. He got Aaron Rodgers to believe (rightly or wrongly) that he could win another SB here. 

Planning the Rodgers coup was very impressive.

* Hiring his close buddy Hackett to "run it back" to Rodgers MVP seasons

* Subtly letting AR representatives through Hackett that the Jets were all in on Rodgers.

* Reaching general terms with GB to begin discussions with Rodgers. Woody, Saleh & JD fly out personally to Rodgers

* Prioritizing a deal with Lazard quickly with the understanding Rodgers was coming to NY

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18 minutes ago, slimjasi said:

Guys - talk about the W/L record all you want to. Talk about whiffing on Zach Wilson. Talk about Becton not being able to stay healthy. All that. All fair. 
 

But Douglas is a easily the best GM we have had in my lifetime. He’s made mistakes, but he has us on a path towards relevancy and he has managed to draft some terrific players and just got us the best QB we have ever had. He got Aaron Rodgers to believe (rightly or wrongly) that he could win another SB here. 
 

Lets see what Rodgers has in the tank before making jds bust in Canton 

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1 minute ago, jetblue95 said:

 

yes, but the critical parts are:

The Jets and Rodgers' agent, David Dunn, already are having discussions about restructuring the deal again, Rodgers confirmed after Wednesday's news conference. Chances are, he will have a new deal in place by training camp.

Rodgers, 39, didn't commit to playing in 2024, but he strongly hinted that he plans to, saying, "They definitely gave up some picks for me to be here, so this isn't like one-and-done in my mind."

The compensation package included a 2023 second-round pick and a 2024 conditional second-rounder that improves to a first-rounder if he plays at least 65% of the offensive snaps.

For now, though, the placeholder contract allows the Jets cap room to sign draft picks and pursue free agents. They are $7.4 million under the cap, according to NFLPA data. On Wednesday, they created about $3.5 million in space by tweaking defensive end John Franklin-Myers' contract, a source told ESPN's Field Yates.

This makes sense because I can't see how he plays for nothing this year. But getting to start from scratch is a massive win for the Jets. 

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1 minute ago, football guy said:

No. He essentially asked GB to convert his 2023 option bonus due by September of this year into 2024 salary. They subsequently eliminated the "dummy" years from his contract. This is important for a few reasons: 

  1. If Rodgers were to get traded with the option in-tact, the Jets would've been responsible for picking up the option, which would mean Woody hands him a $58 million check. Some of that money (about $15 million) would be on the cap this year. 
  2. Bonus money is very hard to recover, so that money would've been on the books for next year and the following (about $20 million in salary cap for 2024 and 2025) regardless if he were to retire or not. 
  3. Since its guaranteed salary, the Jets are not required to pay Aaron if he retires. Meaning his 1-and-done would cost us a total of $1.165 million + the draft picks. There is also not a hard deadline for payouts, meaning both sides can remain flexible. 
  4. Rodgers essentially faces the same thing next year as he did this year, but makes it less complicated. Does he turn down $60 million next year? Probably not. 
  5. Assuming Rodgers were to come back, they'll renegotiate the contract to eliminate the unguaranteed salary, and he'll get paid $60 million guaranteed while tacking on 2 additional void years to prorate the salary next year (my guess would be $20 million cap hits for 2024, 2025, 2026). 

 

i know you have some sources, so maybe you are hearing otherwise.

but multiple reports are this is just a placeholder to facilitate the trade, and in all likelihood, rodgers' contract will be restructured again prior to the start of this season.  

is this thinking inaccurate?

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Just now, bitonti said:

Lets see what Rodgers has in the tank before making jds bust in Canton 

Agreed and he's far from Canton. 

I'm just saying that compared to some of the bozos we have had in this front office, this guy at least has enacted a sensible plan. We all know he has had some major draft whiffs, but all GMs have.  

Maybe it all goes to poop because Rodgers is washed, but I personally think Rodgers will be good here. Not prime Rodgers, but good. We'll find out soon enough. 

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1 minute ago, football guy said:

This makes sense because I can't see how he plays for nothing this year. But getting to start from scratch is a massive win for the Jets. 

My understanding is that this also gave the Packers cap relief. I want to say it helped everyone involved. I may be misinformed though, just paraphrasing tweets at this point.

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