What to Know: Packers & Jaire Alexander Agree to Extension
By Paul Bretl
It shouldn’t come as a surprise, but the Green Bay Packers have now officially signed cornerback Jaire Alexander to a contract extension. It was first reported back at the NFL combine that the two parties were in talks.
The contract details of Alexander’s extension and what it means for the Packers.
According to Ian Rapoport, this is a four-year extension worth $84 million, which includes a $30 million signing bonus, and a roster bonus of $11.5 million due in March of 2023. Alexander will earn $45 million through Year 2 and $61 million through Year 3.
While Alexander is now the NFL’s highest-paid cornerback, with a base salary in 2022 of only $1.076 million per Adam Schefter, the Green Bay Packers should be able to create some needed cap space—perhaps in the $5 to $7 million range.
Now, I know your initial thought is that this cap space could go towards another addition, such as a receiver, but this added cap space will instead more so cover other expenses such as the final two roster spots — the salary cap calculation only includes the top-51 on the roster — the practice squad, the last few members of the draft class and reserve funds for any in-season spending.
The projected $10.8 million in cap space that the Packers had prior to this move wasn’t going to be enough for all of those extra costs.
With that said, if Green Bay wants to make a signing on a veteran minimum deal or something close to that—this added cap space will help them accomplish that. Reworking Allen Lazard’s restricted free agent contract once signed is another cap-creating avenue.
Unfortunately, Alexander would miss much of the 2021 season with a shoulder injury, but the year before, he cemented himself as one of the top cornerbacks in football with a second-team All-Pro performance.
According to PFF, Alexander allowed a completion rate of only 48% in 2020, on 76 targets and just 9.5 yards per catch. He also recorded three interceptions and 14 pass breakups.
This year, with Eric Stokes and Rasul Douglas, Alexander will see more snaps from the slot, but don’t be mistaken; that isn’t the only place he will line up. My guess is that where Alexander lines up will depend on who the opponent is, as he will likely follow around their top receiver.
In this instance when Alexander is on the boundary, it is a bit of an unknown at this time who will take those slot snaps given the lack of experience on the roster. It could very well end up being a by committee approach, with Shemar Jean-Charles and Keisean Nixon taking on larger roles, with Stokes lining up inside against the more speedy receivers while Douglas takes the big-bodied pass-catchers.
With this extension, the Packers lock in one of the core members of their defensive unit for the foreseeable future.