Jaire Alexander got the bag today, as the kids might say. The Green Bay Packers and Jaire Alexander came to an agreement on a four-year $84 million contract extension. This will keep the star cornerback in Green Bay through the 2026 season. While the official numbers have not come out yet, based on what we know so far, we have a rough estimate on how much money this can save the Packers for this off-season.
Contract Number / Salary Cap Impact
Alexander’s deal includes a league minimum base salary of $1.076 million and a signing bonus of $30 million. The signing bonus being a record-high for a defensive back. With the bonus being spread out over the next five seasons, Alexander’s cap hit for the 2022 season could be as low as $7.076 million. This move could free up as much as $6.2 million in salary cap space for the Packers this season. This would give the Packers plenty of cap room (between 6-8 million) to get through this season and enough flexibility to potentially sign another veteran.
The cost of free agent wide receivers:
Julio Jones was set to be a $14 million dollar cap hit for the Tennessee Titans in 2022. He would have to come down from that number pretty significantly if he wants to play with Aaron Rodgers.
Will Fuller had a cap hit of just over $10 million for the dolphins in 2021. He is a very likely candidate to take a veteran minimum type deal for Green Bay.
Odell Beckham JR has had a cap hit throughout his career averaging around $10 million. His highest ever cap hit was $17 Million in 2019.
It will be a wait and see type of situation to see if Green Bay is able to snag one of these (or other) wide receiver free agents.
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