4 Contract Extensions that Free Up Needed Cap Space for Packers
By Paul Bretl
The Green Bay Packers have already begun creating some much-needed cap space this offseason. Over the last week, they have restructured the contracts of Kenny Clark, Aaron Jones, and David Bakhtiari.
While there are still other contract restructure candidates out there, another way that they can create cap space in 2022 is through contract extensions.
There are two primary benefits to a contract extension. The first and most obvious is that it keeps a productive player in Green Bay longer by adding more years to their current contract. On top of that, and as already alluded to, it also lowers the current year’s cap hit by taking portions of the 2022 base salary, roster bonus, or perhaps both, and converting those funds to a signing bonus, which then the cap charges can be spread out over the life of the contract rather than incurring them all in the current year.
There may be other players on the Green Bay Packers’ radar when it comes to receiving an extension, but these four players are the most likely to receive one this offseason.
Green Bay Packers Extension Candidate: Aaron Rodgers
All signs are surely pointing to Aaron Rodgers returning to the Green Bay Packers. He’s talked for several months now about how his relationship with Brian Gutekunst has greatly improved. There have also been reports that the Green Bay organization feels confident in his return–not to mention that Rodgers played a fairly large role in hiring QB coach Tom Clements.
If this is the case, and Rodgers does return to the Packers, the team is reportedly looking to make him the highest-paid player in the NFL, which would come via an extension. Over the Cap is currently projecting that an extension for Rodgers would create $21.09 million in cap space for the 2021 season.
Despite the Packers’ salary cap challenges, there are plenty of salary cap moves out there to be made that can help them retain a fairly large portion of the 2021 roster, which it looks like they are willing to do as they try to make another run at a Super Bowl–although keep in mind, all of those restructures and backloading of contracts will limit their financial flexibility in future years.