The Green Bay Packers’ first move of the 2018 free agency period is complete, and it’s a big deal — literally and figuratively.

According to ESPN’s Adam Schefter, the Packers and Davante Adams have agreed to a contract extension that will pay the receiver around $14 million per year. NFL Network’s Ian Rapoport reports more on the structure of the deal, which is apparently for four additional years and carries an $18 million signing bonus.

This contract will keep Adams in Green Bay through the 2021 season and according to Schefter it pays him $58.75 million total, which is about $14.5 million average per year. The Packers are projected to have about $41 million in salary cap space in 2018, according to Overthecap.com, which gives them plenty of room to make this deal.

The $18 million signing bonus and $32 million in cash over the first two years can give fans an early idea about how the cap hits might be structured. Since the deal is signed during the 2017 season -- before a deadline that kicks in on Saturday at 4 PM Eastern, per Andrew Brandt — the Packers can prorate the signing bonus over 2017 as well as the four years of the extension. That is accounted for below. NOTE: the following is only an estimate and includes only new money.

Davante Adams Contract Estimate Year Signing Bonus Prorated Bonus Base/Bonuses Cap Hit Year Signing Bonus Prorated Bonus Base/Bonuses Cap Hit 2017 $18M $3.6M $3.6M 2018 $3.6M $6M $9.6M 2019 $3.6M $8M $11.6M 2020 $3.6M $12.5M $16.1M 2021 $3.6M $14.25M $17.85M

This new deal could indeed mean that the Packers plan to find a way to reduce the cap hits for Adams’ teammates, Jordy Nelson and Randall Cobb. Each player has a contract that runs through the 2018 season and has over $12.5 million in cap hit for next season.

Stay tuned for more details as they are announced.