The Green Bay Packers made three significant salary-cap moves Monday: an extension for outside linebacker Preston Smith and the release of outside linebacker Za’Darius Smith and offensive lineman Billy Turner.
In all, the Packers saved about $25.5 million on salary cap in three moves. Offsetting some of the savings was the re-contract of linebacker De’Vondre Campbell, who agreed to a five-year deal. Based on the details of his contract, Campbell’s the cap reached in 2022 will be around $4.24 million.
Overall, the net result of the four moves generated savings of approximately $22 million.
The Packers still have work to do for the start of the new league on Wednesday. The team is approx. $21.8 million over salary cap.
Other things to consider: The Packers need to offer restricted free agent Allen Lazard and eight exclusive free agents. If all nine receive offers, including the second-round offer for Lazard, nearly $5 million will be added to the Packers’ cap.
By Wednesday, nearly $27 million must be removed from the cap.
Where can the Packers find savings before the start of the new league year?
– New deal for quarterback Aaron Rodgers
– Long-term deal for catcher Davante Adams
– Extension for cornerback Jaire Alexander
– Restructuring/release of trustee Randall Cobb
– Security restructuring/release Adrian Amos
– Restructuring/release of defensive lineman Dean Lowry
– Restructuring/release of kicker Mason Crosby
– Restructuring/release of tight end Marcedes Lewis
Reducing Rodgers’ salary cap of $46.7 million is a priority. The Packers could earn $10 million or more in salary savings with a new deal. The same goes for Adams, who still has more than $20 million in the salary cap while on the franchise tag. A new deal for the All-Pro catcher might be unlikely for Wednesday. An extension will be made for Alexander sometime before the regular season. One way or another, the Packers have to touch Cobb’s contract. His cap number is $9.5 million and it needs to be lowered considerably if he wants to stay on the roster. The Packers could save $6.75 million by releasing him and another $4.8 million by releasing Crosby and Lewis.