There's good and bad news.
Jaire Alexander's departure remains inevitable, but the Green Bay Packers have no reason to rush a decision. They don't need the immediate cap relief, allowing them an opportunity to maximize their search for a trade partner.
Shall we focus on the good news? According to Tom Silverstein of the Milwaukee Journal Sentinel, the Packers "appeared close to making a deal" for Alexander before free agency. Nothing came of it, but Silverstein reports there "has been additional interest since the combine."
Teams have interest in Alexander. That's helpful.
Unfortunately, the good news ends there, as Alexander has (understandably) held up the deal, making a release far more likely.
Packers releasing Jaire Alexander is the far more likely outcome after latest report
Silverstein noted that the Packers couldn't agree with another team on trade compensation, while Alexander's contract remains an issue.
"Alexander's willingness to alter his contract to fit the other team's salary cap have made it difficult to close a deal," Silverstein writes. "Alexander has a considerable amount of leverage in deciding his future given his high salary and cap number. If he refuses to renegotiate his contract with another team, the Packers are going to find it extremely difficult to deal him."
To make it clear, Alexander isn't in the wrong. He has every right to want the Packers (or a trading team) to respect his contract without needing to touch it. It's Green Bay's problem, not his.
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It leaves the Packers in a difficult spot, though. If a team is unwilling to part ways with the necessary draft capital and take on the $17.5 million Alexander is owed this season, where can the Packers turn? He is an All-Pro when healthy, but the "when healthy" part is doing a lot of heavy lifting there — Alexander has missed exactly half of the Packers' games since 2021.
It's in Alexander's best interest for the Packers to release him, and it also benefits other teams to wait. There's little Brian Gutekunst can do to change that.
The only leverage Gutekunst has is time. He can move forward knowing Alexander isn't part of the Packers' 2025 plans and build his roster with that understanding. In theory, interested cornerback-needy teams would have more urgency, especially if they leave the NFL Draft still requiring help at the position.
That's the Packers' hope. It's probably their only hope.
Releasing an All-Pro cornerback who only recently turned 28 is tough to stomach, but it's the painful reality. A trade hasn't happened yet, and there's a good chance it never will. The Packers will (eventually) have to accept reality and release Alexander.