$150,000,000 Giant Aaron Rodgers in Need of Breathing Space as Jets Salary Cap Crisis Hits Rock Bottom

In March 2022, Aaron Rodgers made NFL history by becoming the first player to earn $50 million per year. Green Bay Packers made it possible by signing him to a widely reported $150.815 million contract, including two additional years in 2025 and 2026 said to be below market value. In March 2023, Rodgers announced his intention to play for the New York Jets, and whichever team holds his rights will owe him a $58.3 million roster bonus. However, if he retires, the bonus will be canceled.

The New York Jets are considering acquiring superstar quarterback Aaron Rodgers, but they must first deal with the complexities of the NFL salary cap. Former Jets GM and current NFL analyst, Mike Tannenbaum, suggests that the team may have to make cuts or restructure existing contracts to create enough salary cap space to accommodate Rodgers’ contract and make the trade possible.

Blockbuster Trade or Bust: The ongoing negotiations over Aaron Rodgers

Mike Greenberg and Mike Tannenbaum discussed the current trade negotiations between the Green Bay Packers and the New York Jets involving Aaron Rodgers on a recent ESPN segment.

Greenberg notes that the Packers and Jets are still at a standstill over compensation for Rodgers, with April 27th, the first day of the NFL draft, looming as a potential deadline.

According to recent reports by Rich Cimini, the NY Jets have around $9.5 million left in their budget for player salaries after the end of the free agency period. This is certainly a noteworthy amount and not something to be dismissed. However, this sum won’t be enough to cover the whopping $16 million charge that comes with Rodgers’ existing contract.

However, Tannenbaum reassures Greenberg that the Jets’ salary cap situation will not be an issue when it comes time to formalize the trade, as they have plenty of levers to pull, such as moving on from other players like Corey Davis.

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Previous reports have also hinted at releasing wide receiver Braxton Berrios as a way of freeing up additional space in the Jets’ salary cap. It suggests that the Jets need to create additional salary cap space to accommodate Rodgers’ contract.

Jets cap space: A window of opportunity to strengthen their roster

Looking further ahead, the Jets‘ cap space situation in 2024 is also worth noting. While the team has significant cap liabilities, their top 51 players only account for $143,609,359 of their total cap space. This leaves them with a team cap space of $112,390,641, which they could potentially use to shore up their offense, defense, or special teams.

On the other hand, as per reports, the Packers might wait until after June to trade Rodgers to avoid incurring a dead-money hit-off over a $40.3 million split over two years. Waiting will give the Packers more financial options. The Packers must trade Rodgers before the start of the regular season, as keeping him on the team would result in the team having to pay his option bonus of $58.3 million. This gives the Packers leverage in negotiations with the Jets, who would need Rodgers before the regular season starts.

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All in all, the Jets are playing a strategic game to position themselves for a winning future, keeping fans guessing.