How Packers can save almost $50 million in cap space this offseason

Green Bay Packers, Brian GutekunstGpg Packers 031419 Abw079
Green Bay Packers, Brian GutekunstGpg Packers 031419 Abw079 /

Like a year ago, the Green Bay Packers will need to produce some magic to get under the salary cap.

Fortunately, Brian Gutekunst and Russ Ball have a number of tools to make this happen. One of the biggest ways to create cap room is by restructuring deals.

Caution is needed here as restructuring too many deals will push lots of money into future years. It pushes the problem down the line. For some short-term cap savings, the Packers would have to pay for it in years to come.

But it seems that’s the plan. According to ESPN’s Adam Schefter, the Packers are willing “to go all in for Aaron Rodgers in 2022”.

This would require a lot of contract restructures.

How can the Packers save almost $50 million in cap space?

Over The Cap has put together a chart detailing how much each team can save by restructuring deals this offseason.

They explain the two types of restructures — a simple restructure and a maximum restructure. Here is their explanation of a simple restructure:

"“A simple restructure converts payments into prorated signing bonuses within the confines of the remainder of the contract. Teams typically have the ability to unilaterally execute simple restructures without any action necessary from the player.”"

Just through simple restructures, Over The Cap estimates the Packers can save $47.95 million in cap space. That would still leave them almost $6 million over the cap, but it would go a long way.

Among the players who could have restructured deals are Kenny Clark and David Bakhtiari. Per Over The Cap, restructuring Clark’s deal could save $9.54 million, while a similar move with Bakhtiari’s contract could save $8.2 million.

Just by doing maximum restructures, the Packers could save as much as $97.82 million. But this is far more complex and, per Over The Cap, can include adding void years to the contract. They also note that maximum restructures are “typically considered a renegotiation of the contract that requires the player’s consent to execute”.

What we’ll likely see from the Packers is a combination.

A mixture of some simple restructures, maximum restructures, contract extensions, and players being released. The Packers will have plenty of options with all four of those to get under the salary cap.

If they are to go all in and push for another Super Bowl with Aaron Rodgers, should he stay, expect to see a lot of contract moves in the coming weeks.

Things should get very interesting in the near future.