After months of speculation, the decision day for the Green Bay Packers and Jaire Alexander may finally be approaching. The star cornerback has been trending toward his departure from the team that took him with the 18th-overall pick in the 2018 draft, but he remains on the roster as the Packers prepare for OTA workouts this week.
While Alexander has continued to maintain contact with the team, June 1 is a key date. The Packers could save $17.1 million if they decide to trade or release Alexander at the end of the week and it feels likely as the deadline approaches. But with the hours counting down, the Packers have offered Alexander one last chance to stay in Green Bay and the decision could ultimately reside with the two-time Pro Bowler.
Packers Reportedly Offer Restructured Contract to Jaire Alexander
The Athletic’s Matt Schneidman reports that the Packers have proposed a restructured contract to Alexander, according to a source with knowledge of the situation. Schneidman also reports that Alexander and his agent, John Thornton of Roc Nation, have not agreed to a restructured deal on the four-year, $84 million contract extension he signed in 2022.
Alexander currently has two years remaining but has also missed 34 games over the past four seasons due to injury and a one-game suspension. Alexander’s $24.6 million cap hit is the third-largest on the team next season behind Jordan Love ($29.6 million) and Rashan Gary ($25.7 million). By offering Alexander a restructure, it increases the possibility that he stays in Green Bay. But it’s also not a given based on previous reports this offseason.
ESPN’s Rob Demovsky reported in March that the Packers were “actively trying to trade” Alexander and that they had not offered a pay cut. Demovsky also added that Alexander wouldn’t accept a pay cut, leading to a trade or release being the most realistic outcome. Schneidman reported on Tuesday that both sides would like to continue their partnership, but it may be a moot point if he hasn’t changed his stance from earlier this offseason.
In the end, the offer could be nothing more than a public relations move. The Packers would eat $17 million in dead money if they traded or released Alexander before Saturday’s deadline, but that number drops to $7.5 million at the end of the week. It also would appear that Alexander chose to leave if he turns down the restructured deal, saving face for a front office that couldn’t get anything in return.
It’s another twist to a drama that seemingly will not end but could be reaching its conclusion by the end of the week.