The NFL has a new “record-breaking contract extension.” Green Bay Packers quarterback Aaron Rodgers has agreed to terms on a four-year extension worth $134 million. Atlanta Falcons quarterback Matt Ryan signed a five-year deal worth $150 million, and so the record is APY ($33.5M > $30M).
As with boxing championships, it feels like you can always come up with another version of “record-breaking” so that three or four players hold the crown at the same time. Jimmy Garoppolo briefly held the record for total money and APY with his February extension, but was surpassed by Kirk Cousins in March with his Vikings deal. That was followed by Matt Ryan’s deal in May. Additionally, Cousins deal set the record for most fully guaranteed money. Rodgers deal includes more than $100 million in guarantees, but that’s not all fully guaranteed.
The 49ers went out on a limb when they signed Garoppolo to his mega extension. They have not played a regular season football game since the deal was done, so we don’t know whether it is a bargain or a bad deal, or just sort of par for the course. We might not have a final answer by the end of this season, but I have a feeling we’ll have a good idea. And if things turn out the way we hope, Garoppolo’s deal could turn into a relative bargain within the next couple years.