Packers could trade Preston Smith
The Packers signed Preston Smith in 2019 to help fix their pass rush. He has consistently made sacks. Outside of the 2020 season when Smith made only four sacks, he has at least 8.5 in the other three seasons, including 12 in 2019.
However, with Smith entering his age-31 season, trading him later in the year would be a way to help the salary cap situation. Smith's cap hit this year is a manageable $6.37 million, but it rises to $16.51 million in 2024, $17.51 million in 2025, and $18.21 million in 2026.
The Packers could wait until next offseason and release Smith to create cap space, but another option could be trading him this year post-June 1. Doing so would save a little over $2 million this year and only $2.52 million in 2024, but Smith's contract would be off the books beyond that. The Packers wouldn't have to pay anything in 2025 or beyond.
Green Bay will get Rashan Gary back from injury at some point this season, and it also drafted Lukas Van Ness, Smith's possible replacement, in the first round. Trading Smith during the season might not land the Packers a premium draft pick, but it would help their salary cap long-term.