Aaron Rodgers Has Contract Offer From Green Bay Packers

The Green Bay Packers have made a significant long-term contract offer to Aaron Rodgers that would alter the quarterback market, a source told ESPN.

Terms of a potential new contract could always change, but a three- or four-year deal would help Green Bay's salary-cap situation while giving Rodgers, 38, contractual clarity well into his 40s.

Green Bay is more than $27 million over the cap just nine days before the start of the new league year. The Packers were expected to offer Rodgers a new deal at some point this offseason, with the dual intention of getting under the salary cap and also providing market-level compensation for the two-time reigning league MVP.

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The Broncos also are lurking as a potential contender to land Rodgers, with a source telling ESPN that Denver is willing to compete to acquire him either through a new contract or draft-pick compensation.

Rodgers is weighing his options but is expected to make a decision soon about his future in the NFL. He previously hinted on "The Pat McAfee Show" that he'd like to make his decision by the franchise tender deadline Tuesday when the Packers need to decide whether to use the tag on star wide receiver Davante Adams.