"It is now true. Packer for life," Driver said on Twitter on Tuesday night.
News of the renegotiated contract was broken on Twitter by Lance Allan, who works for WTMJ-TV, Milwaukee's NBC affiliate. In an e-mail to Allan, Driver's agent, Jordan Woy, wrote: "We have agreed to terms with the Packers but need to review it (Wednesday) to finalize."
Interviewed on ESPN Radio by Scott Van Pelt and Ryen Russillo on Tuesday afternoon, Driver was asked about his future in Green Bay.
"I'll be in Green Bay. I'm not going anywhere," he said. "I've always said I want to retire as a Packer. I think the organization knows that. So, we're going to come together and we're going to make a decision. One, two more years and then I'm going to put the cleats on the shelf and sit back in Dallas and relax with my family."
Terms of the deal were not immediately available. Driver was entering the final year of his contract, with a $2.6 million base salary, $2.2 million roster bonus and $200,000 workout bonus, giving him a cap charge of $5 million, according to a source with access to contract numbers.
That's a huge number for a part-time player, especially with up-and-coming Randall Cobb and promising Tori Gurley, Diondre Borel and Dale Moss fighting for a roster spot. So, there's no doubt that Driver took a pay cut — and perhaps a big one — to stay with the team that made him a seventh-round draft pick in 1999. Potentially, the Packers slashed Driver's pay but guaranteed the money, like they did with Ryan Grant last summer.
Driver, 37, is coming off a season of 37 catches for 445 yards — his lowest figures since 2001. However, his six touchdowns matched his output in 2009 and were his most since scoring eight touchdowns in 2006. The second week of organized team activities begin on Wednesday. Driver, fresh off winning "Dancing with the Stars," is expected to attend, coach Mike McCarthy said last week. More than likely, the deal will be announced after practice and Driver will address his future at that time.
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Bill Huber is publisher of Packer Report magazine and PackerReport.com and has written for Packer Report since 1997. E-mail him at firstname.lastname@example.org, or leave him a question in Packer Report's subscribers-only Packers Pro Club forum. Find Bill on Twitter at twitter.com/PackerReport.