The Green Bay Packers are in a strong financial position heading into the 2025 season. Over the Cap projects them to have $31 million in cap space, which ranks 10th in the NFL. They also have an estimated $27.3 million in effective cap space. On top of that, they carry just $18 million in dead money – the 11th-lowest figure in the league.
Still, there are paths for the Packers to free up additional cap space, which could become especially important with several players from the 2022 draft class slated to reach unrestricted free agency next year, including six starters. That urgency becomes even more significant given Green Bay’s challenging cap outlook in 2026.
According to NFLPA rules, the Packers can extend players from their 2022 draft class this offseason. However, Zach Tom is the only player I would realistically expect Green Bay to work on a deal with before the start of the 2025 season. He finished third in All-Pro voting among right tackles last year and has played all positions within the offensive line.
Since 2006, only two Packers OTs have recorded both an 80.0+ pass-blocking and run-blocking grade in a single season:
1-David Bakhtiari (2020)
2-Zach Tom (2024) https://t.co/K5qntQ2inl
— Felipe Reis Aceti (@Aceti_Felipe) February 15, 2025
Quay Walker could also be a candidate for an early extension. Brian Gutekunst has said he wants to keep Walker long-term, and the primary reason the Packers declined his fifth-year option was their preference to negotiate a long-term deal instead. While Green Bay could allow Tom and Walker to play out the final year of their rookie contracts, doing so would expose them to higher costs if both players have strong seasons.
You can never rule out mid-season extensions, as the Packers demonstrated when they re-signed Rashan Gary in October 2023. A strong season from Romeo Doubs or Rasheed Walker could make them appealing candidates for early extensions.
However, Green Bay also has Jayden Reed, Dontayvion Wicks, Matthew Golden, and Savion Williams under contract through 2026. Additionally, with Jordan Morgan and Anthony Belton potentially replacing Walker on the blindside, the Packers may not feel much urgency to extend any of these players and let them play out their rookie contracts.
Let’s assume a scenario where the Packers free up cap space to negotiate multiple extensions – what movements could they make that would make long-term sense?
Restructures
Green Bay appeared to be heading toward a potential divorce with Jaire Alexander. However, reports suggest that the team and the two-time All-Pro cornerback are now discussing a solution, and he could return on a revised deal.
Alexander has missed 34 of Green Bay’s last 68 games and carries the third-largest 2025 cap hit on the team. Given those circumstances, there’s little chance he returns under the current terms. However, a restructure could free up $10.3 million in cap space, providing both sides the necessary flexibility to find common ground.
Other restructures that could make sense include Jordan Love, which would free up $8.9 million in cap space, and Rashan Gary, whose restructure could open up $10.1 million. They could also restructure Xavier McKinney’s contract to create $7.1 million in cap space.
Releases/Trades
There isn’t much Green Bay can do beyond a sudden, unexpected twist – releasing Jaire Alexander. A post-June 1 designation for Alexander would free up $17.1 million in cap space. The Packers must be placing great trust in his ability to stay healthy, because that $17.1 million could offer much-needed flexibility, especially with the possibility of six starters hitting free agency next offseason.
The Packers will soon have to make some tough roster decisions, and the sooner they re-sign the players they want to keep, the better positioned they’ll be to avoid the rising costs of a growing market – and the long-term impact that inflation could have on their salary cap.