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Source: Packers to sign Josh Jacobs, release Aaron Jones

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 four-year, $48 million 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' deal also includes $12.5 million guaranteed, a source told Schefter.

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.