Jason La Canfora of CBS Sports is hearing similar information. He states the timeline remains fluid, however, with the possibility it might not get finalized for a few months. Assuming a deal is indeed reached, Rodgers is expected to make around $25 million per season.
UPDATE: Monday, Apr. 1, at 7:12 a.m. ET by Brandon Galvin
NFL's Ian Rapoport has the latest on Aaron Rodgers' contract negotiations with the Green Bay Packers.
Rapoport later reported one of the holdups in the negotiations:
The two sides are also still haggling over how much money will come to Rodgers in the next two seasons, among other issues. Per the terms of the current deal that runs out in 2014, Rodgers is set to earn $19.75 over those two years. That makes him underpaid based on his status and performance.
---End of update---
The 2011 league MVP is actually under contract for two more seasons but would receive far below fair market value for his services. He's slated to make $9.75 million in 2013 and $11 million in 2014 under his current deal, according to La Canfora's report.
In a world where Joe Flacco is making more than $20 million per year following an extension he signed in the offseason, Rodgers definitely deserves a raise. There's also no doubt he's worthy of the "highest-paid" distinction.
At 29 years old, he's in the middle of his prime. He has finished with a quarterback rating of above 100 in four straight seasons, has accounted for 171 passing touchdowns and just 46 interceptions in his career, and should have nearly a decade of strong play left.
That impressive touchdown-to-interception ratio is even more eye-popping over the past two seasons, in which he has tallied 84 passing touchdowns and just 14 interceptions. With that kind of output from Rodgers, it's no surprise the Packers ranked in the top five in scoring both years.
Rodgers is also durable (two missed games in five years), handles himself like the face of a franchise should and keeps the Packers in Super Bowl contention every season that he's under center.
No matter how you analyze the situation, locking Rodgers up with a long-term deal is the right move for Green Bay.