Packers & Rashan Gary agree to 4-year contract extension

One day after the Green Bay Packers lost to the Minnesota Vikings — and one day before the NFL’s trade deadline — one of the team’s players broke his own big news about a new contract. Outside linebacker Rashan Gary, who is famously self-represented by his own sports agency, announced on Twitter/X that he has signed a new contract with the Packers, making him the highest-paid defensive player in Packers history.

According to Gary’s tweet, the deal is worth $107.5 million. That includes his 2023 salary, however, as Bill Huber of Sports Illustrated reports that the new money on the deal is $96 million. That equates to $24 million per year in new money over the additional four years of the deal.

That number makes Gary one of the highest-paid non-quarterbacks in the NFL, but he remains behind a few players at his own position, including Nick Bosa, T.J. Watt, Joey Bosa, and Myles Garrett.

Gary has been the Packers’ most consistent pass-rusher by far since he broke out in his third season back in 2021. That year he had 9.5 sacks, which remains a career high, but he posted six sacks in nine games last season before suffering a torn ACL in November. Impressively, Gary made it through his recovery to start this season on the active roster, and has played in every game this season, posting 4.5 sacks while playing about 40% of the Packers’ defensive snaps.

The new contract for Gary will likely increase his salary cap hit for 2023 by a small amount. He was previously playing on his rookie 5th-year option, which carried a base salary of $10.892 million. According to Huber, the signing bonus on the deal is reportedly about $34.6 million, which will be split up evenly on the cap as about $6.93 million per year over the five years of the deal (including 2023). With a reduction in his base salary to $4.9 million, Gary’s cap hit bumps up very slightly to $11.83 million this year.

In 2024, Gary will reportedly have a base salary of $1.3 million, a roster bonus of $6.2 million, a workout bonus of $700k, and active gameday roster bonuses of $800k. In total, that compensation along with the signing bonus proration will give him a salary cap hit of just under $16 million, good for sixth on the team among players currently under contract for next season.