The Jets, who previously announced that they would be moving on from Aaron Rodgers, will officially release him on Wednesday at 4 p.m., reports Adam Schefter of ESPN.
The move will be designated as a post-June 1 cut, which will reduce the cap hit.
Per Spotrac, this will give the Jets a dead cap hit of $14 million in 2025 and $35 million in 2026, but it would also save them $9.5 million against the cap for the upcoming season.
With Rodgers set to officially hit the open market, there could soon be a resolution in his free agency, with the Giants and Steelers among the most aggressive suitors.
After their initial decision to part ways with Rodgers, the Jets released a pair of statements.
"Last week we met with Aaron and shared that our intention was to move in a different direction at quarterback," said head coach Aaron Glenn and general manager Darren Mougey. "It was important to have this discussion now to provide clarity and enable each of us the proper time to plan for our respective futures. We want to thank him for the leadership, passion, and dedication he brought to the organization and wish him success moving forward."
"I personally want to thank Aaron for his time at the New York Jets," owner Woody Johnson said. "His arrival in 2023 was met with unbridled excitement and I will forever be grateful that he chose to join us to continue his Hall of Fame career. From day one, he embodied all that it meant to be a New York Jet, embraced our fans, and immersed himself in our city. That is what I will remember most when I look back at his time here. He will always be welcome, and I wish him only the best in whatever he chooses to do next."
Acquired by the Jets in a blockbuster trade ahead of the 2023 season, Rodgers' addition had the Jets and their fans thinking Super Bowl or bust, but an ominous start to the quarterback's Jets career led to an ultimately disappointing two-year tenure.
After tearing his Achilles in the 2023 season opener against Buffalo, Rodgers returned to the field in 2024, playing all 17 games despite dealing with injuries to his hamstring, knee, and ankle. In his first full year as Gang Green's starter, Rodgers completed 368 of 584 passes for 3,897 yards and 28 touchdowns to 11 interceptions. On paper, Rodgers' numbers were solid, but the Jets went 5-12 as the season quickly unraveled after a 2-3 start.
The Jets recently signed Justin Fields, who is expected to be the starting quarterback this coming season, with Tyrod Taylor serving as his backup.