After the Davante Adams trade, 3 free agent signings, multiple contract restructures, the Packers salary cap is still pretty tight. Ken Ingalls (@KenIngalls) has broken down the salary cap extremely well.
2022 Green Bay Packers Salary Cap – 3/25/22 Cap
- Right Now: $15,261,361 Cap
- After Draft: $10,230,420 Cap
- Top 51 Salary Cap Space – Future Moves: $10,230,420
- Effective At Season Start: $77,620
- Packers need more cap space for in-season operations. The can get that from Jaire, Lazard, Lowry & Crosby extensions / restructures:
These numbers are up to date with all of Green Bay’s transactions as of 27 March 2022.
What do these numbers mean?
Per Over The Cap (OTC), Green Bay’s $15,139,028 in available cap space after factoring in the deals for tight end Robert Tonyan, cornerback Rasul Douglas, defensive lineman Jarran Reed includes $5,870,941 needed to sign this year’s rookies.
How do we arrive at that number? OTC has the Packers’ rookie pool (total cap dollars needed to sign rookies) at $13,625,941 but notes that “the cap space required to (sign rookies) is less than the rookie pool. This is because every draft pick signed will replace a player already counting against the cap (top 51 rule that only the 51 most expensive contracts determine cap space).” The effective cap space needed is equal to the rookie pool – ($705,000 x the number of picks). (Per Matt Schneidman on twitter)
Taking a closer look, the Packers really don’t have much spending money if they take into account what they’ll need down the line for things like practice squad salaries and in-season signings. If the Packers can get a deal done with Jaire Alexander, that would free up cap space for this year. Alexander’s fully guaranteed fifth-year option is worth $13.294 million.
The Packers can absolutely make more free agent signings this off-season, but they’ll need to make other moves in the process. Extensions are the first option, however cuts are still possible as well. Mason Crosby is a name to watch as a possible cut as Green Bay currently has 3 kickers on the roster.