NFL insider reports Raiders' “fair” number wasn't enough to keep Josh Jacobs over Packers' $48,000,000 deal

Josh Jacobs will be donning new uniforms for his sixth NFL season after the Green Bay Packers signed him to a four-year, $48 million contract. It’s not that the Las Vegas Raiders didn’t try to secure him with an extension, but it was lower than what the Packers offered.

Vic Tafur, The Athletic’s beat writer for the Raiders, wrote in his Mar. 29 mailbag article that the 2022 First Team All-Pro member chose the Packers because of money:

“The Raiders made what they thought was a fair offer — and it was the second-best offer — but it wasn’t close to the Packers’ offer of $14.8 million guaranteed in Year 1 (and likely $23 million for two years).”

The $14.8 million Tafur mentioned about Jacobs’ contract with Green Bay includes a $12.5 million signing bonus, a $1.2 million base salary, a $600,000 workout bonus and a $382,343 roster bonus, per Spotrac.

However, the deal has a potential opt-out after the 2024 season. But if Josh Jacobs remains with the team in 2025, he will get a $5.93 million roster bonus aside from his $1.17 million base salary. Josh Jacobs’ potential compensation will increase to $11.5 million in 2026 and $23.5 million in 2027.

The Las Vegas Raiders declined Jacobs’ fifth-year option for 2023, worth $8.034 million, even though he had led the league in rushing yards (1,653) the previous season.

Nevertheless, he thought that Las Vegas would give him a multi-year extension. As NFL Network’s Tom Pelissero shared, he sat with teammate Maxx Crosby at the Raiders’ facility, hoping that he would get another contract.

Unfortunately, he remained unsigned past the deadline. Instead, the Raiders offered him the franchise tag worth $10.091 million. Both parties agreed a one-year, $11.7 million deal in August.

He will work again with Rich Bisaccia, the Packers’ special teams coordinator and assistant coach. After Jon Gruden resigned, Bisaccia led the Raiders to the 2021 postseason as an interim coach.

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The Packers structured Josh Jacobs’ contract to protect their interests

While Jacobs is among the league’s best running backs, the Green Bay Packers are airing some caution after Jacobs played only 13 games last season due to a quad injury. Worse, he ended with career lows in rushing yards (805) and touchdowns (six).

With Josh Jacobs working his way back to total recovery, Green Bay isn’t sure if they will get the running back with three 1,000-yard seasons in his first four NFL years.

Hence, the opt-out after one season prevents them from paying him much cash, even if they’re not getting value for their money.