Packers' Updated Salary Cap After Aaron Rodgers' Reported 4-Year, $200M Contract

The Aaron Rodgers saga reportedly has a happy ending for the Green Bay Packers, while the reigning two-time NFL MVP could end up getting a massive raise to return to the club. 

Per NFL Network's Ian Rapoport, Rodgers has agreed to terms on a four-year, $200 million contract ($153 million guaranteed) to remain with the Packers. 

However, Pat McAfee of The Pat McAfee Show and Matt Schneidman of The Athletic reported the four years and $200 million figures are not accurate. 

Rodgers also took to social media to deny that he had signed a new contract.

Schneidman noted Rodgers is coming back to the Packers, but no deal has been agreed to at this point and "details are still being ironed out." 

An extension for Rodgers would certainly make sense if it happens to lower his cap figure for 2022. He's currently set to count $46.7 million against the cap, per Spotrac.

Green Bay is currently $29.8 million over the cap having already restructured the contracts of Aaron Jones, Kenny Clark and David Bakhtiari. 

ESPN's Adam Schefter previously reported the Packers were "prepared to go all-in" for Rodgers, including spending close to the cap this year and pushing money into future years to use a similar approach the New Orleans Saints took in the last few years of Drew Brees' career. 

Following the Packers' loss to the San Francisco 49ers in the NFC Divisional Round, Rodgers was asked about his decision-making process for the 2022 season. 

"I'm not going to hold the team back from anything," Rodgers told reporters. "And once I commit—and if it's committing to move forward here—it will be a quick decision."

Tuesday makes sense as the latest possible day for Rodgers to give the Packers a response one way or another, because they have other things to take care of. 

Rapaport reported the team is expected to use the franchise tag on Davante Adams. The deadline to use the tag is at 4 p.m. ET; otherwise Green Bay's star receiver would become an unrestricted free agent. 

The franchise-tag value for wide receivers is $18.4 million, though the Packers would have until July 15 to sign Adams to a long-term extension that could lower his cap hit this season. 

Ultimately, the most important piece of the offseason puzzle for the Packers was getting Rodgers back. They appear to have done that, and they can figure out the rest as they look ahead to the start of free agency next week and the draft in April. 

Rodgers, who turned 38 on Dec. 3, is coming off one of his best seasons. He completed 68.9 percent of his attempts for 4,115 yards and 37 touchdowns to win his second successive MVP award and help the Packers earn the No. 1 seed in the NFC playoffs for the second consecutive year. 

Green Bay has gone 39-10 in the regular season over the past three years.