Cap Update: Packers' Finances Intact Heading Into 2017

After what seemed like the longest offseason ever—same old song and dance every year—NFL teams are gearing up for training camp, which begins next week.

For the Packers, players are scheduled to report on Wednesday, July 26th. So far on paper, they're shaping up to be poised for another playoff run as championship hopefuls.

Also on paper, they're financially intact for the foreseeable future. That's almost entirely in part thanks to Ted Thompson's conservative, yet, efficient approach over the last few months.

The general manager may be entering his final full offseason with the Packers—or with anyone—due to his contract expiring after the 2018 NFL Draft. Right now, he has his team sitting pretty among some of the NFL's wealthiest teams.

The Packers currently have $18,382,790 in cap space, which is good for the 11th-most in the league. Of the 10 teams ahead of them with money in the bank, only the Texans were a playoff team in 2016.

Thompson splurged on six free agents this off-season, five of them being veterans and filling potential leadership voids that became evident with the departures of guard T.J. Lang and linebacker Julius Peppers. On these free agents, the Packers dished out just $16.7 million.

The Packers also managed to maintain their extensive amount of dough with the way Thompson and Vice President of Football Administration/Player Finance Russ Ball structured the rookie contracts.

It was noted on Monday by ESPN's Rob Demovsky, who acknowledged the "lack of monster signing bonuses and guarantees." He cites that these happenings are a direct result of Thompson trading out of the first round of the draft back in April.

As it stands, the Packers could use all of the change in their pockets that they can muster. Some of their current top talents will be on the hunt for new contracts next offseason, including safety Morgan Burnett, receiver Davante Adams and center Corey Linsley.

It's also been rumored that quarterback Aaron Rodgers is coming up on his own contract extension after seeing the monstrous payday for Raiders quarterback Derek Carr, which positions him to earn $25 million annually. Rodgers' contract isn't set to expire until 2020 and he's currently earning approximately $22 million per year. His imminent deal is expected to be hovering somewhere around $32 million.

"That stuff usually takes care of itself," Rodgers said in the dead heat of OTAs in early June. "I have a fantastic agent and he does a great job. He worries about that stuff.

"When it comes to setting the market values, I let that stuff take care of itself. I know my value in this league and I know the team appreciates me. I'm going to continue to make myself an indispensable part of this roster. When your time comes up to get a contract, you usually get a contract extension."

Thanks to the frugal approach this off-season, the Packers are positioned perfectly to not just make a run at another Super Bowl title, but handle Rodgers' contract as well as retain several of their own key departing players with little fuss.

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Zachary Jacobson is a staff writer/reporter for Cheesehead TV. He's the voice of The Leap on iTunes and can be heard on The Scoop KLGR 1490 AM every Saturday morning. He's also a contributor on the Pack-A-Day Podcast. He can be found on Twitter via @ZachAJacobson or contacted through email at [email protected].

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Comments (10)

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Elisha Twerski's picture

July 18, 2017 at 03:32 pm

Great article, Zach!

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Lphill's picture

July 18, 2017 at 06:01 pm

I don't think they offer a big payday to Burnett
In fact maybe they don't offer him anything if the young guys step up. I think the only free agent over the past few years that they made a mistake not keeping was Cullen Jenkins . I don't remember any details about it but we all know that he was missed on the D line.

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Spock's picture

July 19, 2017 at 07:19 am

Lphill I couldn't disagree more! Burnett is one of the best players on defense (I think he rated number one against all the other safeties in the league for pass defense?). You don't let a talent like that walk. Now, whether they offer him 'a big payday' is another discussion.

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Thegreatreynoldo's picture

July 19, 2017 at 09:35 am

IMO Burnett's coverage is so-so. He offers very good run support. He will be 29 during the 2018 season. Not sure I'd want to give him 4 years through age 33. He has missed 6 games over the last 2 years, and seems to be on the injury report more often though he played, and played well. I will have to see how Brice, Jones, even Marwin Evans, look during this season.

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ricky's picture

July 18, 2017 at 06:19 pm

Rodgers getting $32 million a year? Who does he think he is- Roger Goodell? Now there is a guy who is indispensible!

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flackcatcher's picture

July 18, 2017 at 11:14 pm

As good a summation as I have read anywhere. Nicely done Zach.

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GBPDAN1's picture

July 19, 2017 at 02:35 am

Training camp starts next week!!! Can't wait to see how this years and last years draftees look. Lots of young talent with potential on this roster

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erkel69's picture

July 19, 2017 at 07:47 am

Zach, you're killing me ;)
Third paragraph you said "That's almost entirely in part"...
That's about the most confusing and amusing statement to me. Which one is it? Is it "in part" thanks to Ted? or is it "almost entirely" thanks to Ted? or some other combo.
Enjoyed the article.

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teresinski6's picture

July 19, 2017 at 08:22 am

Training camp opens next week, how long will it be before we see players have injuries and can,t practice as all the past years, same old routine, and all the commentators have such a great outlook and do not want to face reality.

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Since'61's picture

July 19, 2017 at 11:00 am

I still hope that TT is waiting to sign a vet or 2 who are released during TC. We can still use another experienced boundary CB and an ILB with experience, especially in pass coverage. There is no point in holding onto $18 million of cap space. Also why re-sign Rodgers with 3 years to go on his contract? IMO that's way too early to extend Rodgers unless the Packers offer him a contract with a clause that keeps him the highest paid QB in the NFL as new QB contracts are signed, similar to what they did with Favre's contract. Such an approach would provide an indication if Rodgers wants to remain in GB or test the FA waters when his contract is up. In any case we should get through 2017 and 2018 before we renegotiate Rodgers. Thanks, Since '61

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