The Green Bay Packers' salary cap issues aren't going away anytime soon. Green Bay is paying $60.35 million in dead money this season. Aaron Rodgers' contract takes up a massive $40.31 million of the Packers' cap space, even though he's a New York Jets player.
Rodgers' contract comes off the Packers' books next offseason, but the team still has several large contracts to deal with, leading to tough decisions.
Green Bay's financial situation is much healthier entering 2024. According to Over The Cap, the Packers currently have $34.34 million in cap space next year. That's an improvement. However, it still ranks in the bottom half of the league, and they need to pay Rashan Gary.
The Packers can create more cap space. They should avoid restructuring more deals. That doesn't fix the problem; it just pushes it down the road. Green Bay no longer needs to restructure contracts. Another way to create cap space is by releasing players. It leads to challenging decisions, but the Packers could improve their financial situation by moving on from these three veterans in 2024.
3. Royce Newman
Upgrading the interior offensive line is a priority for the Packers next offseason. Royce Newman was a liability at left guard in the games he covered for Elgton Jenkins. Green Bay has to get better at guard and center, and that starts by moving on from several players.
The Packers won't make significant cap savings by releasing Newman, but they can create $1.06 million, leaving them with a dead cap hit of just $124,836. That's an easy call for general manager Brian Gutekunst.
This past offseason, the Packers forced themselves to find upgrades at defensive tackle and tight end by parting ways with veteran starters Jarran Reed, Dean Lowry, Robert Tonyan, and Marcedes Lewis. They can do the same at guard in 2024 while creating additional cap space.