Packers’ salary cap update entering 2023 offseason

Another offseason, another tough salary cap situation for the Green Bay Packers.

As the Packers have continued to go all-in and aim to compete for a Super Bowl, they continue to have limited cap space.

Entering the 2023 offseason, Green Bay doesn’t have much cap room to work with and may need to find creative ways of adding space.

Note: All salary cap numbers in this article are according to Over The Cap.

How much salary cap space do Packers have in 2023?

The Packers are currently set to have -$5.36 million in cap space for 2023. They will need to make moves to get under the salary cap before the beginning of the new league year in March.

It’s not as bad a situation as they were in a year ago, but work is required to get back under the cap.

What are the Packers’ top five cap hits in 2023?

• QB Aaron Rodgers ($31.62 million)
• LT David Bakhtiari ($29.07 million)
• DT Kenny Clark ($23.97 million)
• RB Aaron Jones ($20.01 million)
• CB Jaire Alexander ($20 million)

Which moves could Packers make to create cap space?

Three of the five players listed above face uncertain futures. Outside of Kenny Clark and Jaire Alexander, you could make a case for any of the other three not playing for the Packers in 2023.

Aaron Rodgers is yet to make a decision on his future. If he returns next season, his $31.62 million cap hit is actually reasonable.

Cutting him isn’t a realistic option, while Rodgers retiring would also leave Green Bay with a significant dead cap hit.

Releasing David Bakhtiari would create $5.9 million in cap space, but the Packers would need to pay $23.13 million in dead cap. If they made it a post-June 1 release, they would create $17.5 million of cap room in 2023, as the dead cap hit would be spread across two years.

It’s a similar story for Aaron Jones. Releasing him before June 1 would save Green Bay $10.46 million, leaving a dead cap hit of $9.56 million. Moving on post-June 1 would create more space in the short term, but the Packers would have to pay $4.01 million in dead cap this year then $5.54 million in 2024.

Other ways to create cap space include contract extensions and restructures.