Aaron Jones formally declared that his contract would be terminated due to the new signing’s salary and…
With the completion of running back Aaron Jones’ contract restructure, the Green Bay Packers made significant progress toward paying less than the salary cap.
ESPN reports that Jones consented to a $5 million pay reduction in 2023 and that the Packers would turn his $7 million roster bonus into a signing bonus. According to Ken Ingalls, the Packers could save about $11.8 million this year on the salary cap thanks to the addition of a void year.
Prior to restructuring The Packers were projected by Over the Cap to be approximately $16.5 million over the $225 million salary cap in 2023. General manager Brian Gutekunst and executive vice president Russ Ball made the majority of the salary cap deficit disappear in one move, but more actions of this nature will be needed before the
In 2023, Jones’ pay was reduced from $16 million to $11 million. By converting his roster bonus and base salary into a signing bonus that can be prorated over the remaining years of the contract, the team further pushed money out. Jones has contracts through 2023 and 2024, with void years in 2025 and 2026. In order to take full advantage of the five-year proration, the Packers may choose to add a third void year.
A $8.5 million signing bonus was given to Jones as part of the restructuring. Over the remaining four (or five, if an additional void year is added) years of his contract, the full bonus will be prorated.
The renegotiated contract should keep the Packers in the hunt even if they decide not to add another void year to his deal.
