Report: Packers signing Jacobs, releasing Jones

The Green Bay Packers are signing former Las Vegas Raiders running back Josh Jacobs to a four-year, $48-million contract, sources told Tom Pelissero and Ian Rapoport of NFL Network.

The deal includes a $12.5-million signing bonus and $14.8 million total in the first year, Pelissero adds.

After landing Jacobs, the Packers released longtime running back Aaron Jones. The 29-year-old ultimately agreed to a deal with the Minnesota Vikings.

The Raiders opted against using the franchise tag on Jacobs for a second season but were reportedly attempting to re-sign him. Jacobs inked a revised one-year deal last offseason to avoid playing the 2023 season on the tag.

Jacobs led the NFL in rushing with 1,653 yards in 2022, earning his first career first-team All-Pro nomination and his second Pro Bowl nod. He also had 12 rushing touchdowns and 400 receiving yards.

However, the running back's production regressed in 2023, and he missed four games due to injury. He finished with 805 yards and posted a career-low 3.5 yards per carry.

Meanwhile, Jones leaves the Packers with three 1,000-yard seasons in seven years. The 2017 fifth-round pick missed six games in 2023 due to injuries, finishing with 656 rushing yards, 233 receiving yards, and three total touchdowns.

The Raiders are likely now in the market for a proven running back with Zamir White and Ameer Abdullah atop their depth chart. Derrick Henry and Austin Ekeler are the biggest names available.