The Green Bay Packers locked down one of their best players on Monday via a record-setting contract.
According to multiple reports, the Packers signed cornerback Jaire Alexander to a four-year extension worth $84 million.
Alexander will make $31 million in 2022, which includes a $30 million signing bonus (a record for a defensive back).
Packers and Pro-Bowl CB Jaire Alexander are finalizing a 4-year, $84 million contract extension, per source. Deal includes $31 million in 2022 – a DB record of $30 million in signing bonus. Alexander will receive $42.5M by March. @JohnThornton of @RocNationSports confirmed deal.— Adam Schefter (@AdamSchefter) May 16, 2022
The deal is worth $21 million annually, which is also a new record for a defensive back.
Not only did the Packers lock up Alexander for the next several years, but they will also save some salary cap space in 2022 with this deal.
According to Adam Schefter, Alexander’s cap hit this season is just $1.076 million.
Jaire Alexander’s base salary this year will be $1.076 million to get his cap number as low as possible this season.— Adam Schefter (@AdamSchefter) May 16, 2022
Alexander was set to play on the fifth-year option in 2022, which would’ve been worth a guaranteed $13.3 million. This move saves the Packers a little over $12 million in cap space, which gives them some breathing room for more additions this summer or in-season moves.
This past season, Alexander missed a significant amount of time due to a shoulder injury and some COVID-19 issues. The former Louisville standout, however, has proved to be one of the best cornerbacks in the league when healthy (and he’s been mostly healthy during his career, outside of the 2021 season). Signing him to an extension this offseason was a no-brainer for Green Bay.
Featured image via Milwaukee Journal Sentinel-USA Today