Source: Packers to sign Josh Jacobs, release Aaron Jones - ESPN

For the first time since 2017, the Green Bay Packers will have a new No. 1 running back.

Free agent Josh Jacobs has reached a deal with the Packers, who in turn have told Aaron Jones he's being released, a source told ESPN's Adam Schefter on Monday.

Jacobs, 26, responded to being slapped with a $10.091 million franchise tag last season by not signing it and skipping the entire Las Vegas Raiders' offseason program, training camp and preseason. He agreed to a restructured $11.791 million, one-year deal and had the worst season of his five-year career — finishing with lows in games played (13), rushing yards (805), yards per carry (3.5), rushing touchdowns (6), rushing first downs (34) and yards from scrimmage (1,101).

Jones, meanwhile, has averaged 5.0 yards per carry over 97 games since being draft by Green Bay in 2017. In his seven seasons, Jones, 29, had rushed for 5,940 yards and scored 63 total touchdowns (45 rushing, 18 receiving). He also has caught 272 passes for 2,076 yards.

A little more than a month ago, Packers general manager Brian Gutekunst said Jones «absolutely» would be back in Green Bay.

That was likely before he ever knew that he could land Jacobs.

Jones could return to the Packers if the market for a 29-year-old running back isn't to his liking. A year ago, he took a $5 million pay cut to return to Green Bay for total compensation of $11 million in 2023, including an $8.52 million signing bonus.

He was scheduled to make up to $12 million this season, including salary ($11.1 million) and bonuses ($500,000 for offseason workouts and up to $400,000 for games active).

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