NFL free agency: Breaking down Aaron Rodgers's contract, Randy Gregory's flip and more

NFL free agency: Breaking down Aaron Rodgers’s contract, Randy Gregory’s flip and more

With Day 2 of free agency (mostly) in the books…

I spent probably two hours looking at the Aaron Rodgers contract on Tuesday morning and came to two conclusions. One, the fact that I haven’t taken a math class since high school has had its effects. Two, the contract proves, once again, that you can make numbers say whatever you want. Here’s the broad strokes of the deal, for those who haven’t seen it yet:

    • 2022: $1.15 million base, $40.8 million bonus roster.
    • 2023: $59.465 million basis.
    • 2024: $49.25 million base.
    • 2025: $15.85 million base, $5 million bonus option.
    • 2026: $10 million base, $5 million bonus option.

The first two years are fully guaranteed, and the third is guaranteed for injury and vests to a full guarantee next year (meaning the first three years are all essentially guaranteed). So if you add it up, that’s $186.77 million over five years ($37.35 million per year), or, if you subtract what was existing and folded in, a four-year extension with $159.79 million in new money ($39.95 million per year). But … if you consider the final two years to be placeholders that he’ll never play on (likely), then this looks like a three-year, $150.815 million deal ($50.27 million per year), or a two-year extension with $123.84 million in new money ($61.9 million per year). And from there, I could get into the cap ramifications, and how the ’23 and ’24 base salaries convert into option bonuses. But instead, just trust me when I say this saves them a lot on the cap the next couple years but will make some year down the line pretty tough for them financially. Now let’s call it a night on all the arithmetic.

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