BREAKING: Packers Restructure Contract To Create Cap Space

The Green Bay Packers created cap space

The Green Bay Packers have some heavy contracts on their roster for next season. The team has about $6 million in estimated cap space for next season, according to Spotrac. The team will need to think about creating room to add more talent to the roster next season. The Packers took a step at that process Tuesday.

According to Field Yates with ESPN, the Packers restructured defensive lineman Dean Lowry’s contract. The team added $1.1 million to their cap by converting approximately $1.5 million of Lowry’s base salary to a signing bonus.

The Packers have restructured the contract of DL Dean Lowry by converting about $1.5M in base salary to signing bonus, creating ~$1.1M cap space.

— Field Yates (@FieldYates) November 29, 2022

This was an intelligent decision

The Packers probably need to develop a few more solutions like this for next season and likely 2024. Ken Ingalls, who analyzes the Packers’ cap space, has an idea of what the move might mean. According to Ingalls, the Packers are probably looking to extend another player on the Packers roster.

Interesting timing here. The Packers don’t really need any more cap space for this season. Wondering if they’re working on an extension for somebody else and need the additional space to fit a signing bonus under their cap this year. https://t.co/GowOMA97uJ

— Ken Ingalls – Packers Cap 💰 (@KenIngalls) November 29, 2022

The Packers have some big-name players coming up in free agency for 2023. Offensive lineman Elgton Jenkins is probably the most important player the Packers need to sign for next season. The Packers now have another million to try and sign him or possibly a wide receiver like Allen Lazard.