Report: Jets Pick Up Aaron Rodgers' $58.3M Contract Bonus To Open $43.7M of Cap Space

The New York Jets are reportedly set to create significant salary-cap space after agreeing to acquire future Hall of Fame quarterback Aaron Rodgers from the Green Bay Packers on Monday.

According to NFL Network's Ian Rapoport, the Packers will pick up Rodgers' guaranteed option bonus of $58.3 million, converting it into a signing bonus, creating $43.7 million in cap space and making his 2023 cap hit just $15.7 million.

Rapoport added that Rodgers plans to take his physical Wednesday, which would allow the trade to become official before the first round of the 2023 NFL draft on Thursday.

Per ESPN's Adam Schefter, the Packers are sending Rodgers, the No. 15 overall pick in the 2023 draft and a 2023 fifth-round pick (No. 170) to the Jets for the No. 13 overall pick in the 2023 draft, a 2023 second-round pick (No. 42), a 2023 sixth-round pick (No. 207) and a conditional 2024 second-round pick that becomes a first if Rodgers plays 65 percent of the Jets' offensive snaps in 2023.

The Jets currently own the longest active playoff drought in the NFL at 12 seasons, which is five more than the Denver Broncos in second place.

New York was in prime position to reach the playoffs last season at 7-4, but it lost its final six games of the season to finish 7-10, and it can be argued that mediocre quarterback play from Zach Wilson and Mike White was the main culprit.

In response, the Jets traded for one of the greatest quarterbacks of all time in Rodgers, who is a 10-time Pro Bowler, four-time first-team All-Pro, four-time NFL MVP and one-time Super Bowl champion.

Rodgers will turn 40 during the 2023 season, and he is coming off something of a disappointing 2022 campaign, as he went just 8-9 and threw for 3,695 yards, 26 touchdowns and 12 interceptions.

That production was a far cry from what he accomplished during back-to-back MVP seasons in 2020 and 2021, but it still would have been significantly better than what the Jets got from their quarterbacks last season.

Because of that, trading for Rodgers may prove to be a worthwhile gamble for the Jets in terms of pushing them into the playoffs for the first time in over a decade.

The Jets already have plenty of quality pieces in place, including head coach Robert Saleh, who looks to be the real deal.

New York also boasts a supremely talented defense led by cornerback Sauce Gardner and defensive tackle Quinnen Williams, plus young offensive weapons like wide receiver Garrett Wilson and running back Breece Hall should benefit from playing alongside a legendary quarterback.

Still, the Jets face an uphill climb in a talent-laden AFC, as they are chasing the Buffalo Bills and Miami Dolphins in the AFC East and must also contend with other AFC powers like the Kansas City Chiefs and Cincinnati Bengals should they reach the playoffs.

Rodgers may only be a short-term band-aid under center, but given how little success the Jets have enjoyed over the past 12 years, the desire to swing for the fences is understandable.