Packers create $16 million in cap space with two contract restructures
The Packers adjusted the contracts of Jaire Alexander and Preston Smith.
By PackerAaron
"We'll probably restructure everybody."
That was Brian Gutekunst, somewhat tongue-in-cheek, during his season ending press conference when asked about the possibility of continuing the practice of restructuring contracts every offseason the past few years in an effort to keep the core of the team in tact and stay under the salary cap.
After lowering Aaron Jones cap number last week, Gutekunst and contract negotiator Russ Ball are at it again, most recently having restructured the contracts for Jaire Alexander and Preston Smith to the tune of $16 million in cap savings.
The #Packers restructured the contracts of stars Jaire Alexander and Preston Smith, source says, creating $9.456M and $6.668M in cap space. … The #Jaguars did the same for LB Foye Oluokun, creating $10.336M.
— Ian Rapoport (@RapSheet) February 25, 2023
These moves should put the Packers under the salary cap but they are most likely not done yet, with possible restructures available for guys like Kenny Clark and David Bakhtiari, expect to see several more adjustments by the Packers front office prior to the start of the new league year on March 15th.
Ken Ingalls has a full breakdown of the two restructures:
New contract structures for both Jaire Alexander & Preston Smith: pic.twitter.com/BdoPi4WbPn
— Ken Ingalls - Packers Cap 💰 (@KenIngalls) February 25, 2023
PLEASE SUBSCRIBE TO OUR CHEESEHEAD NATION WEEKLY NEWSLETTER HERE.
__________________________
Comments (14)
PackyCheese500
February 25, 2023 at 10:21 am
Well, I saw this coming. My guess is Kenny Clark is the next guy up. Does this mean they aren't planning to r/s Bakhtiari? Maybe he gets traded to a Tackle-needy team like the Jets or the Chiefs
Rick5952
February 25, 2023 at 11:43 am
We are definitely a tackle needy team.
BirdDogUni
February 25, 2023 at 04:09 pm
*Not if we retain Yosh Nijman and Tom is any good long term...
Plus Rasheed Walker, Caleb Jones, or Rhyan turns out to be decent...
Don't get me wrong, I'm hoping we restructure Bakh and keep him at least until the trade deadline.
egbertsouse
February 25, 2023 at 04:18 pm
Don't worry, they'll sign Bahktiari too. Murphy and Ball are puttin' the band back together. Ball is maxing out the credit cards and kicking the can down Lombardi Ave.
Sometime next week we'll hear that Diva is back. We'll find out a couple months later that Murphy and Ball threw another $10 mil at him so he would finally make up his mind.
It's the Packer way.
ImaPayne
February 25, 2023 at 06:14 pm
Ya lets extend these suckers until they are to old to sign their paychecks.
Smith is downhill and then some, weve have the best out of him so to extend him like four more years is outer madness. Alexander is the highest paid corner in the NFL already and he isnt even close to the best so adding more years to his contract is also fateful movement.
Russ Ball and Murphy wont be here when thee shit hits thee fan.
dobber
February 26, 2023 at 10:14 am
"Alexander is the highest paid corner in the NFL already"
No...he's not.
"Smith is downhill "
No...he's coming off one of his best statistical seasons playing half of it without a legit threat at the other OLB position.
ImaPayne
February 25, 2023 at 06:15 pm
They are trying like hell to over pay Lazard to make Rodgers happy. Lazard is not worth the 30 mil he is asking for.
bjb2012sime
February 25, 2023 at 07:47 pm
I'm getting a bad feeling about this.....Murphy said,"We're not idiots." but I would disagree. Pick up the dang can and quit kicking it down the road. This is not a championship roster, it is a mediocre 8-9 squad. I fear Murphy wants to try a Hail Mary and finish his term with a Super Bowl, but that's a mirage. Be a steward of the franchise and lay the groundwork for your successor. Rodgers and his geriatric cronies need to go, act on the conviction that prompted the Love selection, get the cap in order, and cut up your credit cards. I sense this is not going to end well.
Why wouldn't MLF and his staff be at the Combine? Wouldn't one expect the GM and coach to collaborate and reach some consensus on what type of players fit the proposed system? It seems like the Packers have gone back to the silo model with Murphy being the overreaching autocrat.
BruceC1960
February 25, 2023 at 08:34 pm
What if there is little to no market for 12? You suppose Klecko’s comment about 12 being a cancer in the locker room is shared by others?
dobber
February 26, 2023 at 10:32 am
https://www.acmepackingcompany.com/2023/2/24/23614176/green-bay-packers-...
https://bleacherreport.com/articles/10066751-matt-lafleur-packers-coache...
"Why wouldn't MLF and his staff be at the Combine? "
Because the Combine has become a spectacle (note the number of teams that aren't sending coaches) where only thing to be gained that can't be had remotely is interviews...and they can get a lot of that information from their individual meetings, pro-days, watching film, and interactions with agents and college coaches. Gutekunst, Milt Hedrickson, and other members of the scouting staff are going, however.
As you can see, other teams have disengaged at this level from the Combine, as well.
BA4Packers
February 25, 2023 at 08:17 pm
The Pack needs to be 9 mil under the cap just to pay the cap hit they’ll take if they trade Rodgers before June.
They’ll need to sign some of their own and maybe other free agents as well. This does not necessarily mean the Pack is keeping AArod.
Irish_Cheesehead
February 25, 2023 at 08:42 pm
Still need to address the elephant in the dark room.
RobinsonDavis
February 25, 2023 at 11:23 pm
Thanks for this Aaron. Folks, the Packers had to do SOME restructuring to get under the top 51 cap, sign a couple of their free agents, sign their draft class, and fill out the roster. It was inevitable. As it stands right now, they have to replace, arguably, 12 of their top 36 players from last years squad (that is if they do not resign any). Likewise, consideration has to be given to resigning players like Rashan Gary, Love, Dillon, Runyan, etc. in this next year, regardless if AR leaves or stays.
Obviously, replacing 12 players of this caliber will not happen with 6 draft picks in the first 5 rounds. It will have to be a combination of filling from within, signing existing and new players, and trading back in the draft to gain additional draft picks, as well as to prepare for next year (where I am told the draft will be deep). So, be prepared for more, IMO
dobber
February 26, 2023 at 10:22 am
"Thanks for this Aaron. Folks, the Packers had to do SOME restructuring to get under the top 51 cap, sign a couple of their free agents, sign their draft class, and fill out the roster. It was inevitable. "
Thanks, RD. A reasoned response to the current situation.