8 Contracts the Packers Can Restructure to Save $51 Million in Cap Space for 2025

The Green Bay Packers are in the best salary cap position they've been in since they moved all of their chips into the middle for Aaron Rodgers.

That doesn’t mean it’s perfect.

Even with the improved outlook, the Packers are still carrying $18.3 million in dead money on the books, largely thanks to Preston Smith and De’Vondre Campbell. That ranks ninth in the NFL, according to Spotrac, which is less than ideal. But it’s a manageable number in the grand scheme of things.

The good news is Spotrac also has the Packers listed with $36.4 million in cap space, which puts them smack in the middle of the NFL at 16th.

The better news is there are several levers they can pull to create even more space if they want to be active in free agency or lock in key pieces long-term.

One of the simplest ways to generate room is restructuring veteran contracts—pushing cap hits into future years in exchange for immediate relief.

The downside is future headaches. The upside is a lot more financial flexibility to fix the roster now.

If the Packers go down this road, they could free up another $51 million in cap space. Here’s how they can do it.

1. Jaire Alexander ($9.9 million)

Jaire Alexander’s future in Green Bay is hanging by a thread.

The most likely scenarios are a release or a trade, in that order. Cutting him would save $6.8 million in cap space, while a pre-June 1 trade would clear the same.

There is, however, another unlikely path: keeping him and restructuring his contract.

A restructure could free up nearly $10 million in 2025 cap space, but it would also tie the Packers to Alexander for future seasons—something that doesn’t seem to be in their long-term plans.

Given how things ended this year, this is probably the least likely lever for Green Bay to pull. But if they somehow choose to repair the relationship, the financial side of it does make some sense.