Packers have already cut nearly $30 million from salary cap for 2023

In what has become an annual tradition, the Green Bay Packers have begun their cutting process to get into legal standing with the salary cap.

The Packers have constantly borrowed from future years to survive and the bill is coming due. They had to eat a number of voided years in 2023 due to past maneuvers to get themselves under the salary cap. And now they created even more future work.

Green Bay previously reworked Aaron Jones’ contract to save $11.8 million on this year’s cap. This move was a pay cut for Jones and pushed even more money into the future. He is now under contract for two more years, but will count $6.6 million in dead cap in 2025 when he’s no longer on the team.

The Green Bay Packers have already cut nearly $30 million from their salary cap for the 2023 season in just three moves.

On Saturday, it was reported the Packers restructured the contracts of Preston Smith and Jaire Alexander, officially getting them into legal standing on the 2023 salary cap.

The Packers converted Smith’s base salary and roster bonus into a signing bonus, saving about $6.7 million. Unfortunately, they added a void year in 2027 to relieve some of that money now.

As for Alexander, they converted his roster bonus into a signing bonus as well, while also adding a void year in 2027. That move saved them about $9.5 million in 2023.

Right when we thought the Packers were clear of void years, they go and add two more for 2027. That’s not a good business model, and one they should get away from that business model to re-create a healthy salary cap spot for their franchise.

For now, however, it’s the route they’ve chosen to go. All told, they have cut just under $28 million for 2023 and have about $5.5 million in salary cap space. They’ll still want to re-sign some of their free agents, sign their draft class when it’s selected, and perhaps add an outside free agent or two. That means more moves are likely coming. Stay tuned!