The Green Bay Packers have never really been about backyard kid’s games. They haven’t utilized the franchise tag for over a decade and the organization is often criticized for rarely taking part in kick (the free agency) can. The Pack may now be forced to play financial hopscotch in the leanest NFL off-season in years.
General Manager Brian Gutekunst let the Monday’s franchise tag deadline pass, sending star running back Aaron Jones hurtling toward a big payday in unrestricted free agency. They last used the tag back in 2010 for Ryan Pickett. The 2021 tag tender for a running back is in the neighborhood of $8 to 9 million and that would have pushed the Packers even further into the salary cap hole they find themselves in.
The pandemic of 2020 eliminated a ton of revenue for the National Football League. Reports today say the 2021 salary cap has now been set at $182.5 million for each team, down from $198.2 million a year ago. Times 32 teams, that’s $502.4 million LESS to go around.
According to Spotrac, the Packers’ total salary cap as of today is $199.8 million, but only the top 51 players under contract count towards the cap, reducing that number to $194.5 million, but that’s still $12 million above the cap. It’s going to take some serious number crunching from Executive Vice President and Director of Football Operations Russ Ball to whittle away the surplus and still allow Gutekunst to try and retain some of his 12 soon to be unrestricted free agents, sign potential free agents from other clubs, not to mention the 2021 draft class which will be chosen in another six weeks.
There have been reports the Packers are still interested in keeping Jones in the fold but how will they be able to do it? He has an estimated market value of $14.6 million per year according to Spotrac. All-Pro Center Corey Linsley’s market value is at $9.7 million per year. The other 10 veterans about to hit the open market include Kevin King, Jamaal Williams, Marcedes Lewis, Lane Taylor, Montravius Adams, Tyler Ervin, Tavon Austin, Damon Harrison, Billy Winn, and James Burgess.
Gutekunst and Ball have already cleared cap space this off-season by converting David Bakhtiari’s roster bonus from his massive 2020 contract extension into a signing bonus and the team has cut veterans Christian Kirksey to shave $6.5 million and Rick Wagner saving another 5.5 million. Wide receiver Devin Funchess apparently agreed to cut his salary by $750,000 to opt back in for 2021. After coming to Green Bay on a two-year deal in 2020, the former Panther and Colt opted out of the season.
Look for more cuts and restructures to come.
That would start with the two superstars on offense. Aaron Rodgers has a cap hit of $37.5 million for 2021. In the wake of Dak Prescott’s 4 year, $160 million deal with $126 million guaranteed, Rodgers will understandably be looking for guarantees financially, giving him peace of mind the Packers will allow him to quarterback the franchise through the end of his existing contract if 2023 if not beyond, Jordan Love be darned. Davante Adams heads to the final year of his contract with a cap figure of $16.8 million and after the season he had last year, it behooves the Packers to get an extension done that will keep Adams running routes for Rodgers and gives the team financial breathing room.
Cap casualties could include the likes of Preston Smith due $16 million this year. With Rashan Gary pressing hard for more playing time, Smith could be moved via trade or outright release to give Gary his shot and the team more cash on hand. Dean Lowry at $6.3 million is another possibility. The Packers just rewarded the hard-working defensive lineman with an extension two years ago but they could find more production elsewhere. Josh Jackson at just under $2 million has never lived up to his second-round status.
Grizzled veterans and quality locker room guys like Taylor (5.5) and Lewis (2.2) might be amenable to smaller deals to continue their careers.
Keep in mind, nearly every other NFL team is facing the same types of decisions and there will be a dearth of veteran talent on the open market next week. Those players may be inclined to sign one or two-year deals knowing the league’s salary cap will climb rapidly when the NFL finalizes new broadcast and streaming deals which are expected to be enormous, along with getting fannies back in stadium seats.
The Packers have until next Wednesday to negotiate and sign their own free agents, after that, the highest bidders will win. The number-crunching will be fascinating to watch.
