Aaron Rodgers has signed a contract extension; the Packers QB will earn $150.8M over the next three years.

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According to sources, NFL Network's Ian Rapoport and Tom Pelissero claimed Tuesday that Rodgers' agreement is signed. After signing, the team announced.

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Last Thursday, Rodgers returned to Green Bay with a four-year deal that would make him the NFL's highest-paid player per year.

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After a week of negotiations with the Packers, Rodgers will earn $50 million per year for the first three years. Rapoport noted that the agreement has two cap placeholders on the back end that might be renegotiated.

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"We are very pleased to be able to come to an agreement with Aaron that keeps him in Green Bay," Packers general manager Brian Gutekunst said.

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"His skills on the field and locker room leadership remain important in our quest for another Super Bowl win. The arrangement lets us keep and improve our competitive roster."

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Pelissero reports that the Packers quarterback will make $42 million in 2022, $59.515 million in 2023, and $49.3 million in 2024, totaling $150.815 million.

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After three years, Rodgers could retire at 41 or the Packers might renegotiate.

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The revised agreement decreases Rodgers' salary charge in 2022 to $28.5 million, $18 million less than expected, giving the Packers budget flexibility to remain Super Bowl contenders.

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The Packers have worked to get under the salary limit to make free agency moves during the last day. Rodgers, Preston Smith, Za'Darius Smith, and Billy Turner were released by Green Bay. Changes freed $45 million in cap space.

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Green Bay could only offer the back-to-back MVP a raise while keeping the NFC North winners' squad substantially intact by deferring Rodgers' hefty salary hits. The Packers will worry about the expense when the cap rises.

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