Just when it started to seem like Jaire Alexander would stay in Green Bay this season, a final curveball came Monday when news trickled out that the Packers would go a different route.
Green Bay will release Alexander, setting a two-year financial domino effect in motion.
Releasing Alexander saves Green Bay $17.1 million on the books for this year and $17.5 million in 2026, per Spotrac. There are dead cap hits in the next two years of $7.5 million and $9.5 million. Still, the move opens up plenty of flexibility for the Packers.
The timing could be perfect.
Green Bay hit on several picks in the 2022 draft. The good news is that the Packers have received a lot of production from those players. The bad news is that there are a lot of significant paydays coming down the pike, and the Packers may have to pick and choose who they retain.
Wide receivers Romeo Doubs and Christian Watson are entering the final year of their rookie deals. The same can be said for 2022 first-round pick Quay Walker. Three of the starting offensive linemen last year came from the 2022 class in Sean Rhyan, Zach Tom, and Rasheed Walker. All are in contract years.
On top of that, edge rusher Kingsley Enagbare is in the final year of his rookie deal. While 2022 first-rounder Devonte Wyatt had his fifth-year option exercised earlier in the offseason, he’s still in line for a new deal.
Factor in that Elgton Jenkins wants his deal reworked while transitioning from left guard to center, and Green Bay has a hell of a lot to sort out this offseason and next. Things only further complicate with more draft hits from the 2023 class having just two years left on their deals.
Releasing Alexander is a huge blow to the secondary. However, that won’t put the Packers in unfamiliar territory, considering Alexander has missed large chunks of three of the last four seasons.
Following Alexander’s release, the Packers have the third-most cap space in the league at a smidge over $46 million.
Naturally, Packers Twitter wants to go big-game hunting, drumming up trades for Trey Hendrickson. In reality, Green Bay had the space to work out a trade on that front before releasing Alexander. A more likely outcome is for the Packers to roll over some of that money into next offseason while also dishing out some extensions to some of the players listed above.
We could see a scenario where Green Bay loses its top cornerback but keeps others around for years to come because of the cap space that has been freed up.
It won’t satisfy all Packers fans. Many were hoping Alexander’s return would help spearhead a scary-looking secondary. That dream will not become reality.
Where Alexander ends up and how much he earns is a different story for another day. For what it’s worth, after it seemed incredibly obvious, given comments from Brian Gutekunst dating back to January, the Packers somehow circled back around to wanting Alexander back if it made sense financially. It just never came together.
Gutekunst and the Packers had offered Alexander a restructured deal likely laced with incentives. What appeared like a win-win for both sides never came to fruition.
Packers president Mark Murphy echoed the availability concerns on Monday after releasing Alexander.
First of all, [Alexander] been a great player for us. Obviously, an elite talent and, you know, unfortunately just injured a lot. Unfortunately, that’s a big part of our game. The reality is for the last four years for Jaire, it’s about half of the games he’s been able to play. So we kind of have been used to it.
Alexander believes he’s still worth more and may get it on the open market. Now, the Packers have the freedom and flexibility to explore extensions for many other players on the roster who are due new deals. Whether or not you think keeping Alexander on the roster in 2025 was a good idea, Green Bay’s ultimate decision could pay off in the long run.