Report: Aaron Jones Chose Vikings Over Packers’ Massive Pay Cut

Here are the financial details that played a role in Aaron Jones’ release from the Packers and his signing with the rival Vikings.

GREEN BAY, Wis. – Money talks. Always does, always will. That was the case for Aaron Jones, who was released by the Green Bay Packers on Monday and signed with the Minnesota Vikings on Tuesday.

The Athletic’s Matt Schneidman had the details.

Jones was due a base salary of $11.1 million this season, part of a supersized salary-cap charge of about $17.58 million that was the second-highest in the league among running backs.

With general manager Brian Gutekunst and Jones’ agent, Drew Rosenhaus, unable to reach a compromise, Gutekunst pivoted to 2022 NFL rushing champion Josh Jacobs and released Jones on Monday.

According to Schneidman, the Packers’ final offer included a base salary of a “little less” than $4 million. Even bumping up the incentives from $1 million to $2 million would have left Jones maxing out at less than half of what he had been due in Green Bay.

So, Rosenhaus no doubt checked out the market to see what Jones was worth around the league. The Vikings gave him a $6 million base and $1 million in incentives for a total value of $7 million. That’s still significantly less than the $12 million he could have made in Green Bay but it’s better than what the Packers were offering.

So, Jones will be packing his smile, sombrero and sunglasses to play for the Packers’ bitter rivals to the west.

With the Vikings, he’ll be the No. 1 running back for a team that fielded one of the worst rushing attacks in the NFL and dumped Alexander Mattison earlier in the offseason.

Meanwhile, the Packers will hand the ball to Jacobs, who topped 1,600 rushing yards during his All-Pro season with the Raiders in 2022 but barely cracked 800 rushing yards in 2023. He went from 2,053 total yards and 12 total touchdowns with 5.2 yards per touch in 2022 to 1,101 total yards, six total touchdowns and 4.1 yards per touch in 2023.

So, what are the financial realities for the Packers? Releasing Jones created $5.22 million of cap space but left behind a dead-money charge of $12.355 million, according to OverTheCap.com.

Jacobs’ four-year, $48 million contract includes a base salary of $1.2 million and cap charge of $5.31 million in 2024. The savings from Jones' contract essentially pay for Jacobs in 2024.

His cap numbers rise to $11.325 million in 2025 (including a $5.93 million roster bonus), $14.625 million in 2026 (including a $10.2 million base salary) and $16.625 million in 2027 (including a $12.2 million base salary).

Packers 2024 Free Agent Tracker: Aaron Jones Released, Joins Vikings