2. Packers could release David Bakhtiari next offseason
Another option the Packers have is to wait until next offseason. Bakhtiari's current cap hit is manageable, so there's no urgency to make a move now. They could decide to release Bakhtiari in the offseason, lowering his 2024 cap hit.
The downside is that the Packers would lose one of their star players and still have to pay $19.08 million in dead money.
Bakhtiari's contract would account for only around $2 million less than this season, but the difference is he would no longer be on the roster.
However, paying $19.08 million is far better than $40.58 million. The Packers would make a saving of $21.5 million on the 2024 salary cap.
Should he keep playing, Bakhtiari would then have the choice of his next destination. He would become a free agent for the first time in his career.
Releasing Bakhtiari next offseason is far from ideal. The Packers don't just lose a key player and still pay $19 million in dead money, but they also wouldn't receive any compensation. Losing a player via free agency can result in compensatory draft picks, but that wouldn't be the case in this scenario if the Packers released him.
However, there is a way where the Packers could receive draft picks for Bakhtiari's departure.