Latest On Aaron Rodgers' New Deal: Report

Aaron Rodgers has now reportedly signed his extension with the Green Bay Packers and new details about the contract are being revealed.

NFL Network's Ian Rapoport and Tom Pelissero are now reporting that Rodgers' new contract is a three-year, $150.8 million deal as part of a four-year extension.

Rodgers was already signed for the 2022 NFL season prior to reaching an agreement with Green Bay last week.

"The contract is a 4-year extension, a complicated one, with two dummy years — placeholders — on the back end. It lowers his cap number and gives GB plenty of room to work," Rapoport tweeted.

"After a week of going back and forth with the #Packers, Aaron Rodgers’ complicated contract pays him $50M per year over 3 years — $150M. Plus there are two low-money option years that will be replaced," Rapoport added.

Pelissero reports Rodgers will receive $42 million in 2022, $59.515 million in 2023 and $49.3 million in 2024, equaling $150.815 million over the next three years, with the first two years fully guaranteed upon signing.

Rapoport added that if Rodgers continues playing past the 2024, he will likely have the "final two years (on a 4-year extension, 5 years total)" redone.

NFL Network's Mike Garafolo reports the Packers will be penalized by $46.7 million less in 2022 as part of the deal, with cap numbers equaling $28.5 million this season, $31.6 million (up from $7.7 million previously projected on a voidable year) and $40.7 million in 2024.

The Packers also extended linebacker Preston Smith and released linebacker Za'Darius Smith and offensive lineman Billy Turner, all of which freed $45 million in cap space for the upcoming season, Pelissero reports.

The Packers intended to franchise tag Davante Adams last week but the star wide receiver informed the team on Monday (March 13) that he would not play on the franchise tag in 2022, Pelissero reported via NFL.com.

Last week, Rapoport reported Rodgers agreed to terms on a four-year, $200 million deal, including $153 million guaranteed, which will make him the highest-paid player in NFL history and reduce his cap number.

Rodgers' new deal with Green Bay was initially reported by former NFL punter and media personality Pat McAfee -- whose show features Rodgers as a weekly guest during the NFL season -- according to "my source(s)."

McAfee did, however, refute the four-year $200 million deal reported by Rapoport -- another frequent guest on his show -- as "not accurrate... according to my sources."

"BREAKING: According to my sources.. @AaronRodgers12 will officially be returning to the Green Bay Packers. There is no deal in place currently but there is said to be a Cap Friendly deal on the way. Retirement was a real consideration & in the end," McAfee tweeted.

On March 7, a source confirmed to ESPN that the Packers offered Rodgers a new contract that would change the NFL's quarterback market amid his looming decision on his future with the franchise.

Green Bay was set to enter the new NFL year more than $27 million over the salary cap and was expected to offer Rodgers a new deal during the offseason amid reports that he could seek other options.

The reported contract offer comes amid reports that three AFC teams were reportedly "viable possibilities" to acquire Rodgers via trade should he decide to move on from the Packers this offseason.