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Packers Reportedly $15.4 Million Under Salary Cap

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Packers Reportedly $15.4 Million Under Salary Cap

With ratification of a new collective bargaining agreement later today, the new league year will begin tomorrow at which time all 32 NFL teams will be required to be under the new salary cap, which is set at $120 million.

The Packers, as reported by Pro Football Talk, were $15.4 million under the cap as of Tuesday. One would think this would include the James Jones and John Kuhn signings. Kuhn's contract details were reported earlier in the week, but we have yet to see Jones' numbers.

This is a healthy cushion for Ted Thompson to work with going into the 2011 season. The first player in line for a an extension has got to be Josh Sitton, who is slated to make $1.2 million in 2011, the last year of his rookie deal. Thompson will also, of course, need to make a decision on Jermichael Finley at some point. In addition to those two, Erik Walden will make $550,000 this year before hitting free agency in 2012. If Walden wins the starting job opposite Clay Matthews, he could be in line for an extension as well.

UPDATE: It would seem the Tuesday number did not include the Kuhn and Jones contracts. PFT has updated numbers as of today and indicates the Packers are $11,106,000 under the $120 million cap.

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Fan friendly comments only: off Comments (34) This filter will hide comments which have ratio of 5 to 1 down-vote to up-vote.

ibleedgrnngold's picture

A decision on Finley? Really its a no brainer. I say he waits til the bye week to give an extension. Big money if healthy, less so if injured

packeraaron's picture

I thought that way - until I saw D.J. Williams.

Michael Cain's picture

Can you expand on your comment on DJ Williams? Do we have two impact players there?

packeraaron's picture

I don't think Williams is a new Finley - I do think he could develop into a major weapon, one that would ease the sting of losing Finely. We already saw the team win a Super Bowl without him. Throw in Williams and it enables Thompson to set a price - a fair one - and let Finley walk if he wants to test the market.

ibleedgrnngold's picture

Fair point, but there's major weapons at TE, and theres the once in the decade talent ala Gates that Finley provides. Albeit he needs to stay healthy. I think if he stays healthy all season we keep him, if he loses a large portion again he gets to test the market

MarkinMadison's picture

What's your opinion on Ryan?

packeraaron's picture

LOVED what I saw on Monday night. Really solid player. I don't know if there's room for him on the Packers' roster, but he belongs on an NFL roster, no doubt.

CSS's picture

The timing of Finley's extension is difficult. Based on ability/potential you know he and his agent are looking at the recent extensions given to Vernon Davis and Antonio Gates.

Antonio Gates - 5 year $36 million, $20 million guaranteed.

Vernon Davis - 5 year $37 million, $23 million guaranteed.

Problem for Ted, it's one of those extension you almost have to wait until mid-season to see the health and productivity. Feels like a catch 22. Give him that contract now and, should he get injured again, you've just sunk franchise money into 'potential'.

Wait until you see the productivity and health and Finley and his agent are probably justified in asking for a contract meeting or exceeding the Davis/Gates level because they know he can get it in spades on the open market.

Hate to be Ted Thompson on this one, I will watch in fascination how he approaches it.

MarkinMadison's picture

I don't think it gets done. Just my gut. Finely feels like Javon Walker all over again.

MarkinMadison's picture

To expand on that a little, there are some injury questions, and some huge flashes of talent, along with a belief in his status that might be a bit premature. Do you really sink huge money in this guy if you have other options? When you've got Sitton due up, and you've got CM3 and Jennings due up the year after that? Do you pay him like a cornerstone guy? I just don't think you do. It's a fluid mix that the Packers have right now with so many quality receivers. At some point TT will have to make a choice.

CSS's picture

My personal philosophy (pathetic internet GM) is you trust your system and philosophy. QB play takes you deep in the playoffs, wins you championships. McCarthy and his staff adjust, exploit mismatches and win. In that respect, I wouldn't set the bar with a TE contract for Finley.

That being said, I really do believe Finley (when healthy) could be un-coverable.

Personally, I look to the areas where you can't manufacture the output in the future. Raji, to me, is extremely unique and his extension is understated...big time. Just as important as CM III, though that may be sacrilegious in some circles to say.

MarkinMadison's picture

No, I agree with you on all counts. I've always been a Raji fan. Now with Cullen Jenkins gone, you really need his inside pressure. And the number of reps that he has had to eat up was phenominal for any player, let alone a guy who tips the scales at well over 300 lbs.

lars's picture

No love for Jordy Nelson, Aaron? Agree, though, Sitton is priority #1. Finley can be franchised (and traded) if his demands are too great or if he wants to go bright lights/big city. Sitton is the Packers best OLineman and needs to be re-signed soon. Ted may finally have to pay a guard big money.

Also, think this is the last year of Grant's big $$$ and maybe Chad Clifton, too. So, the team will have the resourses to sign the "big three." Walden? Meh.

packeraaron's picture

Good call. Completely blanked there.

TedTheSledge's picture

Looks like PFT is counting the 3 mil allowance in their calculations so GB would be 15 under the 123 mil cap amount.

(PFT update: These numbers include the one-time, $3 million in extra space that applies to each team in 2011.)

Is this 3 mil they are talking about the extra allowance teams get to help sign vets? because I had read that it really wasn't "free" and merely allowed teams to borrow from a future cap year, which the Pack may not want to do.

Chris K's picture

WHo else is a FA after this season?? Josh Sitton, Fermichael, Jordy, and who?

packeraaron's picture

Jordy Nelson.

Chris K's picture

Anyone else??? Gotta be more than just those three names..

R.H.'s picture

F/A's after this year I have: J.Nelson, S. Wells, R. Grant, J. Sitton, J. Finley, M. Flynn, H. Green

ibleedgrnngold's picture

Sign(in order)


TedTheSledge's picture

Found this:

?Special transition rules to protect veteran players in 2011. All teams will have approximately $3.5 million in what would otherwise be performance-based pay available to fund veteran player salaries.
?Each club may “borrow” up to $3 million in cap room from a future year, which may be used to support veteran player costs.
?In 2012, each club may “borrow” up to $1.5 million in cap room from a future year. Both these amounts would be repaid in future years.

Combining the two exemptions for 2011, the number really rises to $126.885.

So looking at it GB is 15 mil under the 123M cap with the ability to borrow 3 million more from a future year (if they think that's appropriate). With the other big names coming due in the next year or two I don't see them borrowing against the future.

Tarynfor 12's picture

As much as the TE factors into the offense, it's not a position that is as hard to refill as the DL and OTs.
When you get these guys,you have to rank them higher in priority to sign.

As for Jordy,he is a WR that can start elsewhere unlike Jones,and the luxury of having a guy like that as your 2,3,4 makes him paramount to sign and not test FA as JOnes.

Would we have missed Jones,eeh to a degree.Would we miss Jordy,absolutely the very first game.

Would we miss Finley again this's becoming apparent that we won't and shouldn't really worry either way.

Chris K's picture

I dont know how you decifer a major game-changing difference between the two at this point! Seems a stretch there!

MarkinMadison's picture

On your typical, basic stats (recetpions, yards, TDs, first downs, fumbles lost - not fumbles made) Jones rates as good as or better than Nelson in every single category over the last two years. The link below provides some statistical support for your Jordy-over-James argument. I was really interested in the catch percentage, where Nelson came in at 70% and Jones at only 57% for the season. Interestingly enough, by this analysis Driver was the #4 WR in Green Bay last year. Stats may lie, but this method put Jennings at #3 in the league, and rated the rest of the Packers receivers, in order, as Nelson, Jones and Driver. I think that many of us would have agreed with that by what we saw on the field - even though in certain moments our emotions wanted to make Driver #1.

Idiot Fan's picture

Man, I'm really kind of torn on Finley. He's so talented, and as CSS mentioned above, at times uncoverable. But we've also never gotten a whole season out of him, and I can't help but feel that he's a bit of a head-case who could turn malignant at any time. I also worry about his ability to share the ball with the rest of the receiving corp without complaining. It kind of seemed like Rodgers relaxed a bit once Finley went down last year, though maybe I'm imagining that. I won't be upset if they sign Finley to a big deal, but I also would probably be fine with a tag-and-trade too.

AJKUHN's picture

I may be mistaken, but don't you need a little cap room to add replacement players during the year if they become necessary?
It's only the start of the season, give Finely a chance, if he is a guy you can build a franchise around, TT will find a way to pay him, if he turns out to be replaceable, it's seems the Pack can handle doing that just fine. Some players are worth more money, thats why TT pays as little as he can the rest of the time.

Hofschneider's picture

Ok... you have to look, who will be a free-agent after this season. But in two years happens a lot. Especcially highpaid players like Driver or Clifton will retire, probably. So that will free up cap-space for CM3 or Nelson. Thats the reason TT doesn't spent money in freeagency. So that he can give Finley and Sitton the money they deserve.

ZeroTolerance's picture

Finley is a big target over the middle. Big targets there tend to be prone to injury (big bodies don't bend as well).

TedTheSledge's picture

PFT has updated their Cap projections as of today. Pack is now around $11 million under so either the Jones or Kuhn contracts (or both) were not included in the 15 mil projection. Still waiting on Jones numbers ....

packeraaron's picture

Yep, just updated.

BrianD's picture

What is the salary floor for this year, and what is the deadline by which teams must be over it?

packeraaron's picture

The salary floor doesn't come back into effect until 2013.

Jim's picture

The league as a whole has a floor though, correct? Wonder what that looks like.

some guy's picture

gotta keep the both. Finley is not replaceable. pay him now for a decent price before he blows up and hope he stays healthy. he's going to be a monster for the next 7 years either in GB or somewhere else.

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