Report: Jets still restructuring Aaron Rodgers' contract

"Per a source with knowledge of the situation, the Jets and Rodgers have still not worked out a revised contract, following the reconfigured deal when the trade from Green Bay was finalized," wrote Mike Florio of NBC Sports.

When Green Bay dealt Rodgers—who has two years remaining on his contract— to New York, he moved his 2023 option bonus ($58.3M) to 2024, so he could ease the financial burden and make the trade happen. Consequently, Rodgers' 2023 cap hit is only $1.215M, and his 2023 base salary is $1.165M, per Spotrac. However, he's owed $107.6M in 2024.

Rodgers recently suggested he doesn't view New York as a one-and-done deal. "It's not just a one-year thing where you can be competitive," he said, via Rich Cimini of ESPN.

Since Rodgers could stay in New York for a few more seasons, the Jets must spread money throughout his contract to avoid depleting cap space. Spotrac projects New York will be $20.172M over the cap in 2024. The Jets could also ask Rodgers to take a pay cut, but it's unclear if he's willing to do that.  

New York still has time but should be proactive because it wants to take advantage of an opportunity. It has a talented, young roster, which includes cornerback Sauce Gardner and wide receiver Garrett Wilson. This young core may rejuvenate Rodgers, who could transform them into a legit contender.

So the Jets should solidify their future and find a way to give Rodgers a team-friendly deal and keep the four-time MVP happy.