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Aaron Rodgers contract details: Jets QB reportedly takes $35 million pay cut under restructured deal

The 2023 NFL offseason champions reside at 1 Jets Drive in Florham Park, N.J.

New York has been stacking wins all spring and summer, and it continued Wednesday. After the team acquired Aaron Rodgers in a blockbuster trade with the Packers last March, questions centered around the future Hall of Fame quarterback’s timeline. 

After a reported contract restructure, it appears Rodgers will be a member of Gang Green for at least the next two seasons.

MORE: Aaron Rodgers explains what led to fallout with Packers, GM Brian Gutekunst

He has 75 million reasons to stay longer term, and he has given Jets fans 35 million reasons to be hopeful about the marriage between quarterback and team. 

It has been reported that Rodgers has been reenergized following his departure from Green Bay. He told New York media on Wednesday he doesn’t see his Jets tenure as a “one year and done thing.” 

Here is everything you need to know about Aaron Rodgers’ new deal in Gotham:

Aaron Rodgers contract details

The Jets should be thrilled with their Rodgers investment to this point. No. 8 will need to perform on the field, of course, but the team couldn’t ask for a better start. 

Rodgers on Wednesday agreed to a new, two-year, $75 million contract, according to NFL Network’s Tom Pelissero. His previous contract had two years and $110 million remaining, which means Rodgers reportedly agreed to a $35 million pay cut.

The reworked contract is fully guaranteed, Pelissero reported. 

Pelissero also reported that Rodgers’ reworked deal is spread out over five years and carries a cap hit of just over $8.83 million in 2023. That gives the Jets flexibility to continue building out the roster around Rodgers. 

The Jets have been compiling cap space to build a roster capable of competing for a Super Bowl title. With four-time league MVP Rodgers and other stars, such as Quinnen Williams, taken care of, the team can now focus on winning games. 

NFL’s highest-paid QBs

It comes as no surprise that salaries for NFL quarterbacks are on the rise, but Rodgers tumbled down the list with his new deal.

MORE: How Justin Herbert’s contract compares to those of Lamar Jackson, Patrick Mahomes, others

Prior to the restructure, Rodgers’ contract was No. 4 on the list at $50.3 million in average annual value (AAV). After the reported new deal, he is tied for 12th with another QB the Jets targeted this offseason, Derek Carr, at $37.5 million.

All figures according to Spotrac: 

Rank Player AAV
1 Justin Herbert $52.5 million
2 Lamar Jackson $52 million
3 Jalen Hurts $51 million
4 Russell Wilson $48.5 million
5 Kyler Murray $46.1 million
6 Deshaun Watson $46 million
7 Patrick Mahomes $45 million
8 Josh Allen $43 million
T-9 Dak Prescott $40 million
T-9 Daniel Jones $40 million
T-9 Matthew Stafford $40 million
T-12 Aaron Rodgers $37.5 million
T-12 Derek Carr $37.5 million

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