The Green Bay Packers had a busy day on Monday. For a team that is known for being conservative in free agency, the Packers made a couple of splashes.
First, the team brought in free agent running back Josh Jacobs. Then, the team brought in safety Xavier McKinney to bolster a secondary that needed young talent. Both of these players were listed among the best free agents at their positions, and both should provide an immediate impact.
While the team added a couple of players, they also released a couple of notable names. Franchise legends Aaron Jones and David Bakhtiari were both released to accommodate the new signings.
Now that the dust has settled on the initial moves, let’s give out some grades.
Signed: S Xavier McKinney
The safety position is not considered a premium position in today’s NFL. We saw that this offseason when numerous starting safeties got cut in cost-saving moves. However, the Packers didn’t get that memo and decided to spend a ton of money on an elite safety.
For the Packers, this move makes a ton of sense. New defensive coordinator Jeff Hafley’s defense relies on quality safety play. McKinney is versatile and can play deep in the box and in the slot. In 2023, McKinney collected 116 tackles, three interceptions, and defended 11 passes. PFF gave the safety an elite 87.8 grade for his performance, which was one of the best grades for any defensive back.
As for the financials, McKinney is reportedly getting $68 million over four years. $17 million per year is steep, but you’re getting one of the game’s best safeties. This is not a typical Packers move, but it makes sense. McKinney will star in this defensive scheme.
Grade: A+
Signed: RB Josh Jacobs
Speaking of non-premium positions, the running back position is usually one that struggles to get paid in free agency. This year is an exception, however, as talented backs like Josh Jacobs, Derrick Henry, and Saquon Barkley flooded the market.
The Packers made another move that is unlike them and dished out big money to Jacobs. Jacobs has spent five seasons in the NFL and has never played in fewer than 13 games or finished with fewer than 800 yards. The back is also an elite pass catcher, having caught at least 50 passes twice. Jacobs showed no signs of slowing down in 2023, as he finished with 805 rushing yards and just under 300 receiving yards.
Jacobs will reportedly sign a four-year, $48 million deal that includes $12.5 million guaranteed. For those who remember, this is essentially the same deal signed by Aaron Jones back in 2021. $12 million per year is a good number for a back like Jacobs. He’s younger than Jones and more talented than AJ Dillon. For a team who got a taste of the playoffs last year, a luxury signing like this makes sense. Still, this move probably doesn’t move the needle much on its own.
Grade: B
Released: RB Aaron Jones
For a brief moment, Packers fans were salivating at the thought of a Josh Jacobs-Aaron Jones backfield. However, shortly after the Jacobs’ deal was reported, so was the release of Jones.
The Packers were uncomfortable with Jones playing in 2024 with a massive $17 million cap hit. Reportedly, the team asked Jones to take a 50 percent pay cut, which he understandably declined. It’s disappointing to see a player who has meant so much to the team and city move on, but it became neccessary after the additions of McKinney and Jacobs. Jones has long been one of the best pass catching backs in the league, but he turns 30 this year and that’s ancient in RB years.
Ultimately, the Packers feel that Jacobs has a higher ceiling and will be good for longer. It’s a shame to see such a respected player leaver, but it makes sense why the team did it. The team cleared about $5 million in cap space and upgraded at the position.
Grade: B
Released: David Bakhtiari
David Bakhtiari was always a prime candidate to be released this offseason. The oft-injured offensive tackle was set to carry a cap hit of over $40 million in 2023. Instead, the Packers will move on from the veteran and save about $20 million in cap space.
Bakhtiari has been one of the league’s best tackles when healthy. Unfortunately, Bakhtiari has played just 13 games over the last three seasons. For a team that is trying to embrace a youth movement, it didn’t make sense to keep carrying this massive cap number.
The release of Bakhtiari had to happen. The Packers are being uncharacteristically aggressive this offseason, so every dollar saved will be huge. Expect the team to add tackle competition in the later tiers of free agency and in the 2024 NFL Draft.
