Murphy noted that new general manager Brian Gutekunst and executive vice president/director of football operations Russ Ball are also in on the process involving Rodgers, who has two years left on the original five-year, $110 million extension he signed in 2013.
"We've had discussions with his representative," Murphy told ESPN on Tuesday. "I have a lot of confidence in Brian and Russ and Aaron as well. We want to create a win-win."
Rodgers' current deal that averages $22 million per year has dropped the two-time NFL MVP to the sixth highest-paid player in the league. He is scheduled to make $20.9 million in 2018 and $21.1 million in 2019.
The 34-year-old Rodgers has publicly said that he'd like to play until he's at least 40 years of age.
Rodgers sustained a broken right collarbone that derailed the majority of his season in 2017. He was able to return for one game following an eight-week absence before the team placed him on injured reserve after it was eliminated from playoff contention.
A six-time Pro Bowl selection, Rodgers passed for 1,675 yards, 16 touchdowns and six interceptions over seven games this past season, his 13th in the NFL.
Rodgers ranks second all-time in franchise history in passing yards (38,502) and touchdowns thrown (313), trailing only the legendary Brett Favre in both categories (61,655 and 442, respectively).