Aaron Rodgers

Packers Notes: Rodgers, Bakhtiari, Jenkins

The Packers are hoping a pair of rookie wideouts will help replace the production of former receiver Davante Adams. Second-round pick Christian Watson and fourth-round pick Romeo Doubs will be expected to contribute during the 2022 campaign, and while the duo obviously doesn’t have the expertise of a veteran wideout, quarterback Aaron Rodgers understands GM Brian Gutekunst‘s decision to pivot toward youth.

“We’re still a draft-and-develop team,” Rodgers told SI.com’s Albert Breer. “I know we say that a lot; that’s most of the league, they’d like to be like that. There are less teams like the old Washington [teams] when they were trying to buy a team in free agency in many years. You’d like to draft guys and develop them and give them second contracts in-house. But there are needs and there are opportunities. I’ve always felt like adding one or two veteran guys at or around the minimum can really pay huge dividends in important spots.

“We’ve relied on young guys for much of my career. There are pros and cons to both those things. But I like Brian and his staff, and I think everybody in the building, myself included, has tried to focus on growing a little bit more and communicating a little bit more.”

Rodgers mentions a team’s need for cheap veterans, and Breer notes that the Packers are still open to adding another receiver. Once Watson returns to the practice field, Green Bay’s young duo will join Allen Lazard, Sammy Watkins, and Randall Cobb atop the depth chart.

More notes out of Green Bay:

  • With Tom Brady turning 45 last week, Rodgers was asked if he could envision himself playing in the NFL until that age. “No, I don’t,” Rodgers answered definitively (via Michael David Smith of ProFootballTalk.com). Rodgers is set to turn 39 in December.
  • During a recent podcast appearance, Rodgers admitted to using a psychedelic called ayahuasca. According to Peter King of Football Morning in America, the NFL won’t be retroactively punishing Rodgers for use of the plant, especially since he didn’t test positive for a banned substance. Both the league and the NFLPA confirmed to PFT’s Mike Florio that ayahuasca is “neither a prohibited compound under the substance-abuse policy nor a PED.” As Florio notes, there is some precedent for the NFL going after a player who admits to using “a given substance,” with the league previously attempting to put Randy Moss in a drug-test program after he admitted to smoking marijuana “every blue moon.”
  • Some good news on the injury front for the Packers. Gutekunst told reporters that he’s hopeful offensive linemen David Bakhtiari and Elgton Jenkins will both return from their respective injuries early on during the 2022 campaign. “They are both doing really, really well. I think they both have a shot to play early in the season,” Gutekunst said (h/t to Zach Kruse of PackersWire). “They are progressing very well.” Bakhtiari tore his ACL in December of 2020, and he was active for only one January contest during the 2021 campaign. Jenkins tore his ACL during Week 11 of the 2021 season. Both offensive linemen were placed on PUP to begin training camp, and there’s probably little chance we see them during the preseason.
  • The Packers had in a handful of RBs for a workout earlier this week. According to ESPN’s Field Yates (on Twitter), Dexter Williams, Kalen Ballage, Jaylen Samuels, Stevie Scott, and Calvin Turner auditioned for the team. Green Bay ended up signing Williams earlier today.

Largest 2022 Cap Hits: Offense

After the COVID-19 pandemic led to the second reduction in NFL salary cap history last year, the 2022 cap made a record jump. This year’s salary ceiling ($208.2MM) checks in $25.7MM north of the 2021 figure.

While quarterbacks’ salaries will continue to lead the way, a handful of blockers and skill-position players carry sizable cap numbers for 2022. A few of the quarterbacks that lead the way this year may not be tied to those numbers once the regular season begins. The 49ers, Browns and Ravens have made efforts to alter these figures via trades or extensions.

Here are the top 2022 salary cap hits on the offensive side of the ball:

  1. Ryan Tannehill, QB (Titans): $38.6MM
  2. Patrick Mahomes, QB (Chiefs): $35.79MM
  3. Kirk Cousins, QB (Vikings): $31.42MM
  4. Jared Goff, QB (Lions): $31.15MM
  5. Aaron Rodgers, QB (Packers): $28.53MM
  6. Carson Wentz, QB (Commanders): $28.29MM
  7. Jimmy Garoppolo, QB (49ers): $26.95MM
  8. Russell Wilson, QB (Broncos): $24MM
  9. Lamar Jackson, QB (Ravens): $23.02MM
  10. Kenny Golladay, WR (Giants): $21.2MM
  11. Garett Bolles, T (Broncos): $21MM
  12. Dak Prescott, QB (Cowboys): $19.73MM
  13. Derek Carr, QB (Raiders): $19.38MM
  14. D.J. Humphries, T (Cardinals): $19.33MM
  15. Keenan Allen, WR (Chargers): $19.2MM
  16. Taylor Decker, T (Lions): $18.9MM
  17. Sam Darnold, QB (Panthers): 18.89MM
  18. Baker Mayfield, QB (Browns): $18.89MM
  19. Matt Ryan, QB (Colts): $18.7MM
  20. Ronnie Stanley, T (Ravens): $18.55MM
  21. Donovan Smith, T (Buccaneers): $18.4MM
  22. Ezekiel Elliott, RB (Cowboys): $18.22MM
  23. DeAndre Hopkins, WR (Cardinals): $17.95MM
  24. Cooper Kupp, WR (Rams): $17.8MM
  25. Laremy Tunsil, T (Texans): $17.71MM
  • The Chiefs’ cap sheet looks a bit different this year, with Tyreek Hill and Tyrann Mathieu off the roster. But Mahomes’ cap number rockets from $7.4MM in 2021 to the league’s second-largest figure in 2022. This marks the first time Mahomes’ 10-year contract is set to count more than $10MM toward Kansas City’s cap, with the AFC West champs not yet restructuring the deal this year.
  • Tied to a few lucrative extensions since relocating to Minnesota, Cousins’ third Vikings deal dropped his cap number from $45MM. The fifth-year Vikings QB’s cap number is set to climb past $36MM in 2023.
  • Prior to negotiating his landmark extension in March, Rodgers was set to count more than $46MM on the Packers’ payroll.
  • The 49ers are aiming to move Garoppolo’s nonguaranteed money off their payroll. That figure becomes guaranteed in Week 1, providing a key date for the franchise. San Francisco is prepared to let Garoppolo negotiate contract adjustments with other teams to facilitate a trade.
  • Wilson counts $26MM on the Seahawks’ 2022 payroll, due to the dead money the NFC West franchise incurred by trading its 10-year starter in March.
  • Jackson, Darnold and Mayfield are attached to fifth-year option salaries. Jackson’s is higher due to the former MVP having made two Pro Bowls compared to his 2018 first-round peers’ zero. The 2020 CBA separated fifth-year option values by playing time and accomplishments. The Browns and Panthers have engaged in off-and-on negotiations on divvying up Mayfield’s salary for months, while a Jackson extension remains on the radar.
  • Golladay’s cap number jumped from $4.47MM last year to the highest non-quarterback figure among offensive players. The Giants wideout’s four-year deal calls for $21MM-plus cap hits from 2023-24.
  • Prior to being traded to the Colts, who adjusted their new starter’s contract, Ryan was set to carry an NFL-record $48MM cap hit this year. The Falcons are carrying a league-record $40.5MM dead-money charge after dealing their 14-year starter.
  • The Texans restructured Tunsil’s deal in March, dropping his 2022 cap hit from $26.6MM to its present figure. Because of the adjustment, Tunsil’s 2023 cap number resides at $35.2MM

Contract information courtesy of Over The Cap 

Packers Likely To Carry Two QBs In 2022

The quarterback position has been subject to plenty of scrutiny in recent years in Green Bay, including this past offseason amidst the Aaron Rodgers contract saga. Things are likely to look very similar at the position to last season on the depth chart, as well as the Packers’ 53-man roster in 2022, though. 

The team faced a number of salary cap challenges entering the new league year, with a new contract for Rodgers at the top of their priority list. The two-time reigning MVP ultimately landed a four-year extension, making him the league’s highest-paid player. There are questions about his chances of playing out the entirety of that contract, though, with Rodgers himself acknowledging that he is essentially set to play on a year-to-year basis moving forward.

“Of course you think about the next chapter and what’s next in your life all the time,” the 38-year-old recently said, via Matt Schneidman of The Athletic (subscription required). “It doesn’t mean you’re not fully invested. When I said I’m back, I’m 100 percent invested… I’m here, I’m all-in, and [the coaching staff] know[s] that. They know what to expect from me… and that’s what they’re going to get.”

Rodgers’ backup will, of course, once again be Jordan Love. The 2020 first-rounder has yet to see an extended run of action to show the Packers he can take over the starting role, though the team has shown a commitment to keep him for at least the near future. In his rookie season, Green Bay carried Rodgers, Love and former UDFA Tim Boyle on the active roster, knowing Love wouldn’t clear waivers to safely reach the practice squad.

That changed last year, when the team carried just two signal-callers, electing to keep Kurt Benkert on the taxi squad. He was cut last month, though, making former seventh-rounder Danny Etling the only other QB on the roster right now. As Schneidman writes, the Packers are likely to take a “similar route” to 2021, with only Rodgers and Love making the team out of training camp, leaving Etling (or another addition) in line for the practice squad. That set-up could give the team the opportunity to get more clarity about both of their top QB’s futures, as they look to remain in Super Bowl contention in 2022.

Packers Offered Davante Adams More Than Raiders; Aaron Rodgers’ Status Factored Into Trade

The Packers’ trade of Davante Adams reunited the All-Pro wide receiver with his college quarterback while stripping Aaron Rodgers of his top weapon. The recently dealt wideout confirmed this deal did not come about because of Packers financial stinginess.

Green Bay tagged Adams and presented a more lucrative extension offer than what Adams received from the Raiders, according to the ninth-year receiver. Adams signed a five-year, $141.5MM deal — then a receiver-record figure — to reunite with ex-Fresno State teammate Derek Carr. The eight-year Packer delved into the reasons behind the decision to change teams.

Adams, 29, said last year the uncertainty surrounding Rodgers’ Green Bay future affected his extension talks with the team. The new Raiders playmaker confirmed this week Rodgers’ status status, even after the reigning MVP’s landmark extension, played a role in the trade. Not knowing how much longer Rodgers would play helped lead to Adams heading to Vegas, via The Athletic’s Vic Tafur (on Twitter).

Rodgers, 38, signed a record-setting extension in March — more than a week before the Adams trade — but the deal can be viewed as a one-year, $42MM pact. Rodgers has since said retirement is frequently on his mind, and the contract will allow the four-time MVP to revisit his future with the Packers after the season. For all the drama surrounding Rodgers’ status over the past two offseasons, it appears 2023 will bring more. Those headlines no longer affect Adams, who will play with a recently extended Carr. The fellow ninth-year vet is going into his age-31 season.

We had some honest conversations about my future here, and how long I wanted to play, and his own thoughts about his future and where he wanted to play, live and raise his family,” Rodgers said, via Ryan Wood of the Green Bay Press-Gazette (via Twitter), of offseason talks between he and Adams. “The team obviously stepped up and made a competitive, or an even more compelling, offer.

… I’m a little biased, but it’s hard to think of a better player I played with. He had a chance to be the all-time [record-holder] in a lot of categories at receiver for us. I thought that might be a little nugget that would kind of keep him here, but Tae made a decision he thought was best for him and his family, and I can’t fault him for that at all.”

The Packers did well to anticipate Adams’ late-20s surge, signing him to a four-year, $58MM extension late in 2017. That deal came just before the Chiefs’ Sammy Watkins contract caused a shift in the receiver market. Adams made four Pro Bowls on his second Packers pact and is headed to Vegas riding a two-year All-Pro streak. It is unclear what the Packers offered, but the accomplished pass catcher passing on it to team with a less decorated quarterback proved bold. Though, Adams will still rake in considerable cash and play closer to his California home.

I’ll say it; it was true, OK,” Adams said (via SI.com) of the Packers’ offer being better than the Raiders contract he eventually signed. “But, like I said, there’s more that goes into it. Family is a big part of it for me, so geographically being here it makes it a lot easier for me to stay connected to my family year round. This isn’t Year 2. I’m not necessarily trying to ‘fight for a job’ or anything like that to where you gotta do what you gotta do to stay out there.

I had the choice, and the choice was for me to come here and raise my family on the West Coast and come out here and have some fun in the sun. It’s hard to explain.”

Derek Carr‘s older brother, David, said during an appearance on the Rich Eisen Show that his brother and Adams had been trying to reunite for years, noting “a couple years ago years ago they were really close to making that happen,” via Pro Football Talk’s Mike Florio. Derek Carr pushing for Adams is unsurprising, given the Raiders’ receiver turnover and missteps in recent years. The Raiders will throw out an Adams-Hunter RenfrowDarren Waller trio, while the Packers are left with questions regarding their pass-catching hierarchy.

Watkins is now one of the players the Packers hope can collectively replace Adams, with second-round pick Christian Watson in this mix as well. Green Bay has not ruled out adding another veteran at the position. Given Rodgers’ year-to-year status, acquiring another vet would make sense for the NFC contenders.

Draft Notes: Remaining QBs, Jets, Vikings, Burks, Johnson

One of the main storylines from last night’s first round was the fact that only one quarterback came off the board. The Steelers have their preferred choice in Kenny Pickett, but the other top options likely won’t have to wait long to hear their names called.

Jeff Howe of the Athletic reports (via Twitter) that “several teams” are trying to move up in the second round. As a result, there is “anticipation that a QB run could be on the way”. A number of teams could be interested in adding the likes of Malik Willis, Sam Howell, Desmond Ridder and Matt Corral as intriguing developmental options.

On that point, Sports Illustrated’s Albert Breer names the Titans, Falcons, Seahawks and Commanders as teams to watch for. He reports that “Ridder’s name has been consistently connected to Tennessee”, who now holds the 35th overall pick. The other teams have done significant work on signal-callers as well. Perhaps eyeing a passer, the Seahawks have made “exploratory calls” about moving up tonight, per CBS Sports’ Josina Anderson (Twitter link).

Here are some other notes looking back on last night:

  • The Jets, as it has been reported, were willing to part with the No. 10 pick for Deebo Samuel. They almost made a different deal with that selection, though, as detailed by ESPN’s Rich Cimini (on Twitter). New York wanted to swap with Seattle for No. 9 to avoid a team leapfrogging them to select Garrett Wilson. Both teams were able to successfully stand pat, ultimately getting Charles Cross and Wilson, respectively.
  • Not long after the top-10 was complete, the Vikings ceded the 12th overall pick to the Lions. With their second first-rounder, Detroit selected Jameson Williams, who may have been the pick at that spot had Minnesota kept it. Breer reports that the Alabama receiver “was very much in play ” for the Vikings, who added Lewis Cine and two Day 2 picks as a result of the deal.
  • Another of the top receivers to be taken last night was Treylon Burks, whom the Titans selected as a replacement for A.J. BrownWhen speaking to Pat McAfee, NFL Network’s Ian Rapoport said the Arkansas alum “was the guy Aaron Rodgers wanted” (video link). With him off the board, the Packers extended their streak of not using a Round 1 pick on a wideout, but he reports that they are a candidate to trade up for one tonight (video link).
  • One of the most surprising fallers on Thursday night was pass rusher Jermaine Johnson II. Part of the reason he was still on the board for the Jets at No. 25, Breer notes, was poor interviews with teams in the pre-draft process. Thought by some as a top-10 pick, he ended up with the Jets anyway, and figures to serve as a notable boost to their pass rush.

NFC Notes: Packers, Cousins, Seahawks, Kaepernick

Following the mass exodus of the Packers’ staff this offseason, longtime NFL quarterbacks coach Tom Clements received a phone call from his old player, quarterback Aaron Rodgers, as reported by Ryan Wood of Packers News.

Rodgers had just watched the dissolution of the Packers’ 2021 coaching staff. Offensive coordinator Nathaniel Hackett departed to Denver for a head coaching position. Passing game coordinator and quarterbacks coach Luke Getsy took an offensive coordinator job for the rival Bears.

Clements was enjoying retirement, looking forward to heading into Year 2 of armchair quarterbacking like the rest of us. Clements claimed he “didn’t have the itch to come back,” but after conversations with Rodgers and Packers head coach Matt LeFleur, Clements found himself back in the NFL, returning to his longest tenured home from his first stint in coaching.

Here are a few other notes from around the NFC, starting with another note from the North:

  • Following a shiny new deal from the Vikings, quarterback Kirk Cousins appears content to finish his NFL career in Minnesota, according to The Athletic’s Chad Graff. Cousins certainly didn’t need an early extension. He set an example years ago for how a player can bet on himself, becoming the first quarterback in NFL history to be franchise-tagged in consecutive years then signing the league’s first ever (and highest at the time) fully-guaranteed contract. Despite this history, Cousins agreed to a deal that freed up some cap space for Minnesota. When asked why he agreed to this deal, Cousins simply stated, “The short answer is: I want to be a Minnesota Viking.”
  • Jason La Canfora wrote a piece Friday asserting his belief that two quarterbacks will go in the Top 10 picks of the 2022 NFL Draft, notably that he expects Atlanta and Carolina to select one of Liberty’s Malik Willis or Pitt’s Kenny Pickett. If either NFC South franchise ends up addressing another position, though, La Canfora expects Seattle to fulfill his prediction with the No. 9 overall pick. Should neither quarterback be available to the Seahawks, several executives believe that Seattle would trade back, allowing teams who are hungry to select a specific prospect to relinquish some of their draft capital while keeping alive the Seahawks ability to draft a value-player without reaching.
  • Should Seattle not find a quarterback in the Draft, one option they’ve kicked the tires on is former 49ers quarterback Colin Kaepernick. Kaepernick hasn’t played since January of 2017, but has stayed in shape amidst lawsuits and accusations against the NFL that settled in 2019. A connection was reported with the Seahawks in March after some comments from head coach Pete Carroll. Carroll gave an update, as reported by USA Today’s Scooby Axson, saying that, while not much has progressed in terms of a contract, Carroll notices the work Kaepernick has put in and admires the 34-year-old’s desire to compete. No deal seems imminent, but Kaepernick remains a possibility should Seattle strike out in the Draft later this month.

Packers GM Discusses Aaron Rodgers’ Future With Team

Aaron Rodgers‘ record-breaking four-year, $200MM extension was intended to provide the QB with flexibility on a year-by-year basis. While Rodgers could theoretically walk away from the deal and join another organization, general manager Brian Gutekunst is naturally hoping the franchise QB will spend the rest of his career in Green Bay.

[RELATED: Aaron Rodgers’ Last Season In Green Bay?]

“We’d certainly like to,” Gutekunst said when asked if he believes Rodgers will retire with the Packers (via Ryan Wood of PackersNews.com). “I think that’s certainly one of the goals of his. I don’t want to speak for him, but I think that was kind of part of the scenario we thought when we moved through this process.”

At one point last year, it sounded like Rodgers’ tenure with the Packers was about to come to an end. However, as Gutekunst detailed, the organization worked with the quarterback to resolve any differences while also making sure to provide the player with his space.

“We had a lot of conversations right after the season,” Gutekunst said, “and he kind of took some time to go through things and make sure that he wanted to commit to the significant time and effort he puts into preparing for the season. Once he got through that, that time, I think we found out probably shortly before the rest of the world found out.”

Gutekunst also explained how he made an effort to better involve Rodgers in transactions, and that especially included the blockbuster trade of Davante Adams. Ultimately, Adams was dealt to the Raiders for a first- and second-round pick, and the GM was sure there was no way to change his wideout’s mind regarding his desire to play elsewhere.

“Not at the end of the day,” Gutekunst said (via Wood). “Those are really tough decisions. To lose a player of his caliber, and what he’s done for the organization, those are hard decisions and hard things to move on from. At the same time, I think once we got through the discussions with Davante after the season, this is what was best for the organization and Davante going forward.”

Aaron Rodgers’ Last Season In Green Bay?

When Packers’ quarterback Aaron Rodgers signed his historic extension about two weeks ago, the general consensus was that Rodgers was expected to retire after the 2024 NFL season. Well, according to Matt Schneidman of The Athletic, former Packers’ executive Andrew Brandt, along with another source close to the situation, believes the contract is essentially a one-year deal for $42MM

A quick reminder, Rodgers’ contract is classified as a three-year, $150.82MM deal that is completely guaranteed. While the contract technically covers the next five seasons, the 2025 and 2026 years of the contract are considered to be dummy years assisting the Packers with cap management. The deal provided “new money” to Rodgers in the amount of $123.52MM over the two new additional years of 2023 and 2024.

In defense of his opinion, Brandt wrote, “Next year there are two guaranteed option bonuses, but these bonuses 1) have to be exercised by the Packers, and 2) would travel to a new team upon any trade. And with this option bonus structure, the dead money actually goes up the longer the contract goes on.”

If Rodgers retires or is traded before next year’s option, the Packers would be left with about $40MM of dead money with an essentially off-setting $59MM in nonexercised bonuses. Brandt explains, “if he were to play again for the Packers (in 2023), the dead money would rise to never-before-seen proportions.” Also supporting Brandt’s opinion is the cap effect of the extension. While the extension does decrease Rodgers’ cap hit by $18.2MM for the 2022 season, his cap hit for 2023 increases approximately $23.9MM from a previously voidable year and his 2024 cap number will total $40.7MM.

In Brandt’s eyes, all these numbers were not only visible to the Packers and Rodgers’ agent, they were negotiated that way. He sees it as an intentional manipulation of the numbers to make the veteran quarterback happy for a year and then move on. This would give back up quarterback Jordan Love a third year of development before he takes the reins. Coincidentally, that would be the same amount of time Rodgers waited before taking over for Brett Favre 15 years ago.

Latest On Seahawks-Broncos’ Russell Wilson Trade

Although the Broncos have been in need at quarterback for six years, GM George Paton said Seahawks GM John Schneider initiated the Russell Wilson trade talks. A Schneider text to Paton got the ball rolling on the trade at the Senior Bowl, Ryan O’Halloran of the Denver Post notes.

Schneider expected the Broncos to be interested, and the talks heated up at the Combine. While Denver was also linked to Aaron Rodgers for nearly a year, Paton said Wilson was the team’s No. 1 priority throughout the offseason. The Broncos planned to do “anything it took” to acquire Wilson, Jeff Legwold of ESPN.com tweets. The deal sent the Seahawks five draft picks and three players, including quarterback Drew Lock, who as of now figures to factor in prominently in Seattle’s post-Wilson QB plans.

The Seahawks’ official statements, while complimentary of the nine-time Pro Bowler overall, included interesting language. All three indicated the quarterback wanting out catalyzed the trade. Jody Allen‘s statement said Wilson “made it clear” he wanted a change, with the owner’s short message also saying she hopes the next Seahawks squad will be “fully engaged.” (A previous report by The Athletic included select anonymous players accusing Wilson of checking out last season, which seems to conflict with the QB’s quest to return earlier than expected from thumb surgery.) Pete Carroll‘s statement backed Allen’s, as could be expected, and said Wilson “wanted something different.”

Wilson called the separation mutual, and Schneider said Wednesday he did not expect the future Hall of Fame passer to sign another Seahawks extension, via ESPN.com’s Brady Henderson (on Twitter). Wilson’s 2019 extension expires after the 2023 season, though the Broncos will be expected to re-sign him either this offseason or in 2023.

A conversation with Paton and Wilson’s faith in the Broncos’ roster prompted him to waive his no-trade clause and target Denver as a destination, O’Halloran adds, and Paton said the Broncos’ new quarterback was already en route to Denver when news of Rodgers’ extension surfaced last week. John Elway, who is now a Broncos consultant after 10 years as the team’s GM and one in a different executive role, was one of the few people Paton brought into the loop on the prospective Wilson trade.

In landing the 33-year-old Wilson, the Broncos will presumably have a longer run with this particular trade acquisition than they did with Peyton Manning or would have with Rodgers. Wilson is still planning to play past age 40.

Latest On Aaron Rodgers’ Extension With Packers

Aaron Rodgers has officially signed his record-breaking extension with the Packers, and we’re getting more clarity on the mind-numbing numbers.

Rodgers will earn $150.815MM over the next three years ($42MM in ’22, $59.5MM in ’23, $49.3MM in ’24), with the next two years fully guaranteed (per NFL Network’s Tom Pelissero on Twitter). As NFL Network’s Ian Rapoport tweets, the expectation is that Rodgers would retire after that 2024 campaign. If he decides to continue playing, the final two years of the deal (stemming from the four-year extension, five years total) would need to be reworked.

As Mike Florio of ProFootballTalk.com notes, Rodgers will see $123.52MM in “new money” on the extension, translating to a “new money average” of $61.7MM (considering the additions of 2023 and 2024, coupled with the 2025 and 2026 dummy years). As Florio points out, that’s a significant jump from the previous-high of $45MM per year.

Meanwhile, NFL Network’s Mike Garafolo tweeted out a helpful guide on how Rodgers’ extension will impact the Packers’ cap over the next three years:

  • 2022: $28.5MM cap number (down from $46.7MM)
  • 2023: $31.6MM cap number (up from $7.7MM on a previously voidable year)
  • 2024: $40.7MM cap number