Rodgers, who will be 40 years old when the deal expires after the 2023 season, praised the Packers on Instagram for an “amazing ride” late Wednesday afternoon.
The total maximum value of the deal is between $176 million and $180 million, based on $4 million in incentives tied to helping the Packers make the playoffs and finishing top three in quarterback rating, the source told Schefter.
An important feature of the deal for Rodgers was the cash flow in the first year, according to Schefter. Rodgers will receive $67 million by the end of the 2018 calendar year and an additional $13 million before March 17, 2019, according to Schefter.
The two sides had been working on this since before the combine in early March, when Gutekunst said he expected a deal to get done this offseason.
When Atlanta Falcons quarterback Matt Ryan signed an extension on May 3 that averaged $30 million per season, it cleared the way for the Packers to once again make Rodgers the highest-paid player in the NFL. That came after Jimmy Garoppolo’s deal for $27.5 million a year with the 49ers in February and Kirk Cousins’ $28 million a year deal with the Vikings in March.
Click here to read more.
SOURCE: ESPN, Rob Demovsky