A Look At The Packers 2026 Salary Cap
Will the Packers stand pat for 2026?
It is that time of the year when the bean counters come out and the arm chair general managers can opine at will. I probably qualify on both counts. Now that the NFL has set the 2026 salary cap at $301,200,000, we can apply that to the Packers' cap situation. All numbers below come from Overthecap or Spotrac.
PACKERS 2026 SALARY CAP ESTIMATION:
| NFL Limit | 301,200,000 |
| Packers Rollover | 9,173,420 |
| Subtotal | 310,373,620 |
| Top 51 Player Cap Numbers 297,303,029 | 297,303,029 |
| Subtotal | 13,070,571 |
| Dead Money (mostly Kenny Clark at $17M) | -17,165,048 |
| Subtotal | (-4,094,057) |
| 3 of 4 ERFAs Melton, Smith, Jenning net | -640,000 |
| Subtotal | (-4,734,057) |
| RFAs - None, maybe Kinnard & Cox | 0 |
| Workouts: 80 players x $340/day x 36 days | -979,200 |
| Amount the Packers must trim by 3-11-26: | (-5,713,655) |
| Draft Class Net (very conservative offset) | -1,760,118 |
| Subtotal | (-7,473,775) |
| Reserve: PUP, IR costs and possible acquisitions | -6,000,000 |
| Practice Squad ($13.75/wk, 18 weeks x 16) | -3,960,00 |
| 52nd/53rd contract ($1.005M and $885K?) | -1,890,000 |
| PS elevations 18 last year. Est. 19 x $35.4K | -672,916 |
| Adj - release Jordan Riley | +260,000 |
| Total | -19,736,691 |
The Packers will soon announce how much money they have to roll over from 2025 to the 2026 season. I used a number I got from OTC. The Packers will probably exercise the ERFA rights to Bo Melton ($1.145m), Donovan Jennings ($1.005M) and possibly to Lecitus Smith ($1.145M). Kamal Hadden is also an ERFA but his late ACL injury makes it unlikely that the Packers will bring him back. They would have to like him a lot since he may well miss most or all of the 2026 season.
I did not put in any reserve for players earning game active bonuses because that it often volatile and usually ends up as a wash. Love, Gary, Jacobs and Jacobs were each active for 15 games, while Banks (14 games), Parsons 13), McDuffie (12), and Hobbs (11) played fewer games. The biggest factor is Christian Watson since he has a $1.85M active game bonus ($108K per game). Watson played 10 games in 2025, so he makes an extra $110K beginning with the 11th regular-season game he is active for. If Watson plays all 17 games in 2026, his cap number would increase by $756K..
The Restricted Free Agents are OL Darian Kinnard, RBs Chris Brooks and Emanuel Wilson, Edge Brenton Cox and Aron Mosby, Safety Zayne Anderson and TE Josh Whyle. The tenders are $8.046M (1st rounder), $5.767M (2nd rounder) and $3.52M (right of first refusal). Tenders are not guaranteed. I don't think the Packers will tender any of these players. I do think they like all of them, so I would expect the team to make some modest offers to most of them. The Packers might be desperate enough on the offensive line to tender Kinnard, who was originally drafted in the 6th round, and to an make offer to Cox ($2.5M?). They will likely offer Chris Brooks some guaranteed money and total compensation in the $1.50M area.
So, the Packers need to cut ro8ughly $5.7M by March 11 and roughly $20M by September. Add more money depending on which RFAs you want to keep and which, if any, free agents from outside the organization you want the Packers to sign. The Packers have 6 players who should qualify as free agent who can generate compensatory picks in 2027. A team can only receive 4 compensatory picks in a year, so the Packers could sign a free agent or two who is not dirt cheap and still max out on compensatory picks.
| Player | Cap # | Saving/Cut | June 1 | Cash |
| Jenkins | $24.329M | $19.5M | Same | $20.0M |
| Gary | $28.021M | $10.978M | $19.499M | $19.5M |
| Hobbs | $12.8M | $838,000 | $8.838M | $9.05M |
| Jacobs | $14.542M | $8.29M | $11.417M | $11.5M |
| Banks | $24.791M | $4.54M | $11.29M | $18.1M |
| McDuffie | $4.975M | $3.7M | Same | $3.65M |
| McManus | $5.278M | $1.945M | $3.61M | $3.70M |
Jenkins suffered a fractured fibula in week 10. I suppose with that much cash owed, and given that he is only worth perhaps $6M, it is possible that the Packers could ask him for a hefty pay cut. However, I think they will just release hm to get under the salary cap limit by March 11. Under Article 45, Jenkins might be owed $2.1M as an injury protection benefit if he can't pass a physical by August 1, either one administered by the Packers or by a new team.
I don't think the Packers can get Gary to take a substantial pay cut since he can probably command $16M on the open market. It sounds like the Packers might swallow hard and bring him back. I suppose the Packers could cut or trade Gary, freeing up space to re-sign both Enagbare and Cox, maybe even with a small amount left over.
I think the cap savings are so minimal that the Packers will just keep Hobbs for another year, unless they view him as a slot-only CB, in which case he might be redundant with Bullard taking the starting spot and Nixon being able to back up there. Nixon is unsigned for 2027. The Packers are a little short at cornerback, both in 2026 and long term. I think Green Bay will try to reload in 2026 and attempt to compete for a championship in 2027.
I think the Packers will keep Banks, attributing his poor season to injuries. That said, they could dump him and buy a free agent offensive lineman, assuming that any worth having reach free agency. As always, if the team can wring a pay cut out of the player, that is fine, but his $20.25M in dead money protects his contract pretty well.
McDuffie played well and earned his contract. McManus didn't, but the savings are not that great. And now, I am out of obvious places to look for cap space. At present, I don't see where the cap space would come from to sign a free agent who is a solid starter. The Packers could restructure contracts of guys who have some cash coming in 2026. Wyatt is scheduled to earn $12.938M all in cash in 2026. Most of that could be converted to a signing bonus and 4 void years could be added to his deal. McKinney ($13.4M), Love ($11.5M), Parsons ($10.35M) each have substantial amounts of cash scheduled for 2026 that could be restructured, but I get the impression that Gutekunst does not want to use signing bonuses with void years.
We shall see what the Packers do. The moves should start happening in the next few days.
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Comments (40)
GregC
March 02, 2026 at 06:55 am
I agree that they will probably keep Banks and Hobbs. I don't know how they could justify keeping Gary, though, when he was not getting any more snaps than Enagbare toward the end of last season. I would take Enagbare and Cox (plus some extra money) over Gary.
Guam
March 02, 2026 at 07:35 am
Absent some explanation we have yet to hear (injury, illness, personal tragedy in the family, etc.), keeping Gary after the last nine games of last season is hard to justify. Like you I would much rather keep Cox and maybe Enagbare than Gary.
Cutting Jenkins gets the Packers back to even on the salary cap. Cutting Gary gives them some maneuvering room to sign RFAs and perhaps a free agent. Losing Jenkins and Gary does very little damage to the team's performance given how they played in 2025.
As always, thanks TGR for your good work helping us understand the Packer cap. A lot fewer options this year than in the past.
dobber
March 02, 2026 at 10:13 am
Keep in mind that a lot of TGR's figuring isn't what needs to happen by the first league day. Cutting Jenkins fixes what has to be done by that point--I suspect that happens just prior to the tampering period--and gets the Packers in the black by about $14M. There will be cuts and restructures as needed after that, but we'll only see them as the Packers need space.
Thegreatreynoldo
March 02, 2026 at 10:45 am
Yes, Wyatt might be break in case of emergency. He has a max of $9.4M in cap saving with a maximum restructure. I listed the cash due of the other players who have substantial amounts that can be converted from salary/Workout and GA to a signing bonus but Wyatt is the fi\rst player I would give a lot of consideration to restructuring.
Guam
March 02, 2026 at 10:53 am
Good point Dobber. Gary can wait, but I still believe he eventually must be released to give the Packers enough room to maneuver.
dobber
March 03, 2026 at 05:53 pm
I'm predicting a restructure and a trade at the deadline.
T7Steve
March 02, 2026 at 07:01 am
Thanks for helping me understand this "CAP" stuff, TGR.
Are you as leery as I am about starting to add void years? Doesn't that just tend to make things start to snowball when you get players down the road that you really have to sign?
stockholder
March 02, 2026 at 07:04 am
Cut Banks. -
Cut Hobbs-
They got money to get us to the super-bowl.
Not sabotage it.
If the guy ain't got it now.
He won't have it later.
I'm ok with Reworking Gary.
TKWorldWide
March 02, 2026 at 07:17 am
I’d be very interested to see what number they can get from reworking Gary. For the way he played after Micah went down, feels like ANY number is too high. At least LVN and all the younger guys hustle. Play with intensity. Gary looked like the poster child of paid and lazy.
TKWorldWide
March 02, 2026 at 07:07 am
THANK YOU, Gr8 one! Love it!
HarryHodag
March 02, 2026 at 07:13 am
Jenkins and Gary both can go and the team won't be harmed too much. If Gary goes, it does mean a change in priorities at the draft.
That is the cleanest way to build for the future. Deferring money like they did before during the time of His Darkness might be a reason the team is where it's at today.
BuckyBadger
March 02, 2026 at 07:15 am
Cut everyone because I am angry and we need to hold people accountable!!!! Right?
Fans think professional sports is like college football in 60s where coaches can rule supreme and just cut anyone who looks cross eyed at them. Everyone you cut has a contract and that means something in professional sports.
I didn't expect much this off season because they made their moves last year and they started to look like a top contender until the injury bug decided to take out 4 of their top players, 2 of in Parsons and Kraft are the very best at what they do.
This roster can compete right now. I would like to see another body or two on the OL the DT but this roster can compete if healthy with anyone.
NFLfan
March 02, 2026 at 07:29 am
Did you forget there are no NFL caliber cornerbacks, a weak interior DL, and a weak OL (across the board, xcept Tom)? Every team has injuries and the Packers will have their share of them in the upcoming season, like everyone else. They need more than 'a body or two' and those (more realistic 5-6 bodies) need to be plug and play.
BuckyBadger
March 02, 2026 at 08:52 am
Everyone has injuries but not everyone loses their blue chip prospects. Lets not pretend they are the same thing. If you take two of the best players off Seattle they aren't winning either. These teams are close and many times the best team at the end had the best injury luck.
If they pass rush is healthy the CBs won't be an issue. That was proven last year when Parsons was healthy. A team that is in the top 5 in every sports book doesn't need a lot. That is why they have such good odds. And yes the odds makers know more than your average fan or sports writer.
Bitternotsour
March 02, 2026 at 09:33 am
odds are issued to get people to bet on both sides of the wager so the casinos aren't left holding the bag. while they may reflect common assumptions about teams, they also need to have the vibe element covered. odds makers are re-insurers.
Hence Seattle not having been a super bowl favorite...
Your assessments of the Packers though are spot on. The team will compete for the championship, and barring stupid, ill-timed injury, will be there at the end.
dobber
March 02, 2026 at 09:38 am
Your point on early returns is valid. The CB group looked pretty good up 'til Dallas--and Nixon looked great--and they were still pretty decent after that when opponents started dumping the ball fast. The Parsons injury was a killer. The assertion above that the Packers "don't have NFL caliber CBs" is mostly hyperbole. Nixon is, by most metrics, a pretty average CB...he's just the best they have. Bullard is credible as a slot defender, but it's not his best spot.
The Packers are heavy on zone/slot CB. They need to find at least one CB who can play right away on the perimeter, and a couple to grow into roles for '26. I think that argues two CB in the upcoming draft. It's possible that if they find guys they like, Hobbs goes away post Jun 1. That would pay the entire draft class.
NFLfan
March 02, 2026 at 03:33 pm
Neither Nixon nor Valentine nor Hobbs would be starting caliber CB's on a contending team-they are CB #2's and that is being generous-
These CB's rely on an adequate Pass Rush and Parsons cannot provide all that is needed, Gary is unreliable, LVN is average and injured much of last year.
And, Parsons is now injured and won't return till October and may be 70-80%
Stik75
March 02, 2026 at 07:30 am
Hey GR did your calculations take the proven performance escalator adjustments due for a few players?
Thegreatreynoldo
March 02, 2026 at 07:37 am
Yes, but credit mostly to OTC, which had Kraft, Wicks and Brooks (edit: also Valentine) already upgraded to the PPE number.
Stik75
March 02, 2026 at 07:42 am
OK thanks posted another comment before i saw your response my bad sorry
Stik75
March 02, 2026 at 07:38 am
Here is the PPE list
——————— -OTC
Kraft 3.8m ——— 3.9
Wicks 3.5m——— 3.7
Brooks 3.5m———3.7
Valentine 3.5m——3.6
Plus change
Ok just saw response from GR
Ok checked OTC they have the numbers even a bit higher for each than what i posted.
And double checked with Spotrac cap numbers and they check out as well.
The salary cap is maddenly difficult to get a handle on.
Since'61
March 02, 2026 at 09:02 am
TGR as always thanks for your great work on the Packers salary cap. After seeing the actual numbers the Packers cap situation looks worse than I had anticipated.
This the 2nd time in the last 4 seasons that Gute has put the Packers in a salary cap hell situation. It's worse off at least for 2026 because we have fewer draft picks than in previous seasons. I would not mind if the Packers were in salary cap hell but had at least filled the holes in their roster. However the Packers have numerous holes to fill. this is compounded by the fact that we don't know if the injured players like, Tom, Kraft and Parsons, will returnnfrom their injuries and be the same players that they were previous to their injuries.
At this point the Packers need OL, DT, CB help plus an RB to back up Jacobs, at least one DE to replace Gary if cut and/or to cover the period while Parsons is out. Also an ILB or 2 depending on what happens with Engabare and McDuffie, plus a backup QB, a KR and a Kicker. How does Gute allow this to happen and yet he gets an extension?
Whatever Gute does during FA and the draft he will be earning his salary this season assuming he does a good job. If he doesn't we could be looking at a long season for the Packers. Thanks, Since '61
GregC
March 02, 2026 at 09:35 am
I don't think the Packers are in salary cap hell. They are tight against the cap, as expected for a contending team. The holes in the roster are mainly for depth. DT is the only position where a rookie, if they pick one early, has an obvious opportunity to start. This team was 9-3-1 before Micah Parsons and Zach Tom got hurt. By that point, they had already lost Tucker Kraft and Devonte Wyatt. A GM cannot easily replace players of that caliber. They need to return at or near full strength. Fingers crossed that it happens.
Since'61
March 02, 2026 at 10:11 am
I appreciate your feedback GregC. They need a Center especially if Rhyan leaves in FA. If he doesn't he did not play very well in 2025 and I don't think that Monk is the answer there either. Beyond Center you are correct in that they need depth on the OL. They need a DT as you correctly point out and some depth on the DL. The Packers also need help in the CB room and at DE if Gary is gone.
As I mentioned in my post they need a backup QB and an RB to rest Jacobs. The Packers also need a Kicker and a KR on STs. If Q. Walker is resigned they can get by with the LB corps but if Q. Walker and Engabare leave the LB position group becomes another hole that needs to be filled.
IMO this is not a roster that is only one or two players away from deep playoff/SB contention. Their season ending 5 game losing streak, injuries or not, left a very bad taste in my mouth. Add in the issue that we still have MLF, Stenavich and Butkus as the offensive coaching braintrust and I wonder how much better we can or should expect the offense to be. Remember that the Packers will be without Parsons for at least the first 3-4 games of the season. Can the offense carry the team until Parsons returns or should we expect an 0-3/0-4 start to the season? Thanks, Since '61
TKWorldWide
March 02, 2026 at 10:21 am
As I’ve admitted before, I miss the days of the workhorse running back commonly picked in round one and drastically impacting the team: Billy Sims, Earl Campbell. Nowadays, very impactful RB’s can be found nearly everywhere, (Pacheco, Monangai) just like IOL. So those holes don’t worry me one bit.
Thegreatreynoldo
March 02, 2026 at 11:00 am
Hey, GB used a premium pick (3rd round) on RB Marshawn Lloyd! I think they pay Brooks to be the 3rd-down back (guys who can pass block and receive are harder to find) and hope Lloyd can play. Maybe they pay E. Wilson but it will be less than $1.75M, I'd guess.
Too many other urgent needs to use a pick, almost any pick, on an RB. DT, OC,CB (probably double dip if the draft falls well), OL depth at OG/OT, and ILB, not to mention Edge if they dump Gary.
Thegreatreynoldo
March 02, 2026 at 09:44 am
I think it would have been difficult for Policy to announce that he gave LaFleur 4 years, $60M, fully guaranteed. GMs don't make as much, with the low being perhaps $1.5M and the high being $5M (save for Belichick who got $7.5M at one time, and probably is still getting paid). I would guess (but I certainly have no concrete evidence) that Gute got $3M to $4M and probably 3 years tacked on.
I am ambivalent about Gute and LaFleur. I suspect that they cannot deliver the promised land but I do believe that they are both in the upper halves of their respective professions on merit. GB could do a lot worse.
I keep hearing how Gute wanted to re-sign Quay Walker. Demned if I know how to fit $11M to $15M AAV into this salary cap. That is, it could be done, but it would be ugly. They could save ~$8.8M by paying Wyatt the minimum and using a signing bonus for the rest with 4 void years. Ugly, though.
My own view is that one gives the GM a longer leash if he gets the QB right, and correspondingly, one should give the HC a shorter leash if he has a QB.
dobber
March 02, 2026 at 10:03 am
"I keep hearing how Gute wanted to re-sign Quay Walker. Demned if I know how to fit $11M to $15M AAV into this salary cap."
Any multi-year signings--whether its Walker or others--are probably going to have a '27 roster/option bonus as a significant part of the deal. Keeps '26 down, and that's how they seem to want to do business now, anyway. It also means they're unlikely get anyone who needs significant guarantees up front to sign.
gsd3
March 03, 2026 at 03:56 am
Deonte Banks could probably be had for a 6th or 7th. Could be a 4th/5th corner and may improve with good coaching. He is also a legit KR.
Thegreatreynoldo
March 02, 2026 at 09:09 am
I sustained a shoulder injury a while back and lost some range of motion along with some feeling in my fingertips. I am getting better but my shoulder is not happy when I try to assume my normal position to type at my desk. And it can be frustrating when one is not sure whether one hit the key on the keyboard unless I stare at the screen. I have taken the last month off from typing for the most part. I don't think I am day-to-day but perhaps more like a couple of more weeks. I did not seek an evaluation from the Packers medical staff, which probably would clear me completely only to find out later that I have the shoulder of a zombie.
One problem I have with trying to analyze this roster is that I don't really have any way to know what the staff thinks about their young guys, like Monk, Glover, Hopper, Ridder, and the CBs: Simpson, Bartholomew, and Baldwiin.
Another problem is that everyone who has cap savings would leave a hole (size varies) if released. Gary got a 68.2 PFF grade, which seems about right to me. 7.5 sacks, 20 QB hits, 54 pressures (PFF) and 30 pressures per PFR. Better run defense though his missed tackle percentage increased. I could be wrong but I think he could get $15M or so on the open market if GB released him, so I don't see why he would take a pay cut. I like Brenton Cox and think Enagbare is useful, but can they replace Gary? The cap probably works with Enagbare at $6.5M and Cox at $2.25M with some of it guaranteed at signing.
If GB releases Hobbs, both Valentine and Nixon become free agents in 2027. Bullard is signed until 2028. Bartholomew becomes an RFA in 2027 and Jaylin Simpson will be an ERFA in both 2026 and 2027. Not much long term depth.
Hobbs has to be better than he was in 2025, right?
Banks has to be better than he was in 2025, right?
Is there anyone behind the 4 starters? Is Jordan Morgan a downgrade? Is Monk the center and is he also a downgrade? Can Belton improve? I have to mention that I have heard bad things about Tom's injury in terms of coming all the way back.
crayzpackfan
March 02, 2026 at 09:40 am
Speech to text. No need to type. ;)
Thegreatreynoldo
March 02, 2026 at 09:47 am
I am old(ish). I bought my smartish phone in 2019. It does not like apps and the like. My laptop at home really sucks. I keep a good laptop at work in addition to my work computer but I do a lot of tables. I should look into it.
Mea culpa.
dobber
March 02, 2026 at 09:58 am
Good to see you back, TGR!
"I don't really have any way to know what the staff thinks about their young guys, like Monk, Glover, Hopper, Ridder, and the CBs: Simpson, Bartholomew, and Baldwiin."
At this stage they're going to need to lean into some of these guys playing roles--maybe significant ones--in '26. I think they knew in trading for Parsons how the cap would turn. They were already playing chicken with Jenkins last summer. They had to know that they were going to need to make do with later picks and by making good on young players already in the locker room, a couple of whom got auditions against the Vikes in week 17. I thought Baldwin played well, but he's more S/slot than CB.
They might, as you suggest, bite the bullet in '26 somewhat to get some cap right, take a shot with the guys in the room, and then make a more concerted run in '27. By the time we get to about April 1, we'll know. I think some restructures are going to be inevitable. As you say, though, I don't think Monk is the answer at C, and if that's the case there's no C on the roster. Something's gotta happen there.
Spock
March 02, 2026 at 10:28 am
Best of luck and hope you heal fully and quickly. I lost the feeling in the bottom of my feet after back surgery and it's never come back. On the other hand (no pun intended) I had surgery on both my left hand and my right hand/right elbow in 2025 because of numbness/lack of feeling and both hands are now back to full feeling! Good luck & thanks for these Cap articles.
Guam
March 02, 2026 at 03:49 pm
Sorry to hear about the injury TGR. Hope you heal quickly and completely.
I would only keep one of Enagbare and Cox. I think Sorrell can be a significant replacement at Edge - in limited snaps he had some wiggle in the pass rush and was solid against the run as a rookie. Oliver can also help with pass rushing duties. An Edge group of Parsons, LVN, Cox, Sorrell and Oliver would be okay.
Banks played better when healthy late in the year and he should be fine in 2026. Hobbs - not very optimistic 2026 will be any better. Monk is a concern for me. He looked okay in his one game against Minnesota, but he was invisible before that. If they don't keep Rhyan they will need to draft a center on day two.
gsd3
March 03, 2026 at 04:03 am
I read something on patella that it could limit the range of motion or something like that as far as footwork at the tackle position if he doesn't come back 100 %. Article said that the footwork at center was drastically different and if he isn't 100 % it would not affect him moving inside.
Don't know if that's valid but it was an interesting article.
TKWorldWide
March 02, 2026 at 10:27 am
So, bottom line, what moves do we EXPECT, and how much cap room would be created?
Thegreatreynoldo
March 02, 2026 at 11:35 am
1. Release Gary. Saves $10.978. I'd do a June designation but the timing does not work well. Would not be able to use the resulting cap relief until June. Not ideal.
1a. If they keep Gary or want to use a June 1 on him, they could get under the cap with a restructure(s). I go with Wyatt - move $7.5M of his $12.938M cash P5 salary to a signing bonus to gain $6M in cap space. They could use McKinney, Love and/or Parsons, I suppose.
2. Release Jenkins. Edit: this could not have been done during the season but it can be done in February and March. Brain freeze!
Subtotal: that is somewhere between almost $30M between Gary and Jenkins. If they keep Gary, it is only 25M to $30M in cap savings depending on whether they restructure Wyatt to get just the $5,7M they need or the $9.435M max they can restructure it to.
3. re-sign chris brooks. Net cost of <$500K or so.
4. Re-sign Brenton Cox at $2.5M or so. Net cost $1.6M?
5. Re-sign TE Whyle. He should be cheap. $250K net cost.
6. Re-sign OL Kinnard (or a similar guy) at $2.75M? Net cost of $1.75M.
7. Re-sign Aron Mosby or someone like him. Should be cheap. Under net $350K.
8. Re-sign Zayne Anderson. I don't think they can sign him. Safety room is too good.
3-7 add up to $4.45M. That means I am out of money again for outside free agents unless I max out Wyatt and/or go hard on multiple restructures or take Gary's June 1 savings of $19.499 instead of the just under $10.978M.
Still have worry about $2.1M for Jenkins' potential injury protection claim if he does not heal well. I looked him up and the source said broken fibula but I thought he had that and a messed ankle.
I do not see the following happening:
a) extensions for Kraft, Wyatt (he is already 28 and is injured), Jenkins, Watson, Nixon, or LVN;
b) re-signing Sean Rhyan, though it is possible. They want to run and he aint good at it.
c) surprise cuts of McKinney, Nixon, Banks, Hobbs, Jacobs (lots of chatter about this) or McManus.
I don't think GB can extend these guys while keeping the cap number the same or lowering them in a structure that makes sense for the player.
Stik75
March 02, 2026 at 11:43 am
Hmm Jenkins was the best way. But as you state there are number of other options. Guess we will know pretty quick.
TKWorldWide
March 02, 2026 at 02:03 pm
Thanks again, much appreciated!