The cap implications of the Packers' decision to release Jaire Alexander, and why they made the move now

The Green Bay Packers finally decided to release cornerback Jaire Alexander. Even though the injury history was a big driver for the move, money is ultimately the most impactful factor in the decision — so much that the Packers tried to renegotiate a new deal, but Alexander wasn't willing to accept a paycut. Cash implications […]

Wendell Ferreira — NFL News Writer
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NFC cornerback Jaire Alexander of the Green Bay Packers (23) during practice at Allegiant Stadium.
Kirby Lee-Imagn Images

The Green Bay Packers finally decided to release cornerback Jaire Alexander. Even though the injury history was a big driver for the move, money is ultimately the most impactful factor in the decision — so much that the Packers tried to renegotiate a new deal, but Alexander wasn't willing to accept a paycut.

Cash implications

The Packers were slated to pay Jaire Alexander $17.5 million in 2025 and $19.5 million in 2026, but there were no guarantees left. So that's how much Green Bay will save in cash.

Cap implications

This is where things get a little bit more complicated, but it's also the most important part for the fans — because this is the aspect that impacts roster-building the most.

Because the Packers had made some restructures with Jaire to push money into future years, his cap hits would be $24.636 million in 2025, $27.018 million in 2026, and $2.005 million in a void year in 2027.

Technically, the release was executed after June 1, so Green Bay could have split the dead money between 2025 and 2026.

However, the team decided not to do so. Therefore, instead of saving $17.117 million in 2025 and $17.493 million in 2026, the team will clear up just $7.593 million in 2025, but then $27.018 million in 2026. The Packers also save $2.005 million in 2027.

Cap outlook

Before the trade, the Packers had $28.939 million in cap space, via Over the Cap. Now, the amount jumps to $36.532 million, which puts Green Bay as the fifth team with the biggest cap room in the entire NFL.

The move was even more important to 2026. The Packers were projected to be over the cap in 2026 by $9.959 million, and now they are projected to have $17.059 million.

Why now?

The Packers held Jaire's rights through free agency, the draft, voluntary workouts. So why would they release him now? Well, as always, money is the explanation.

Even though Alexander's 2025 base salary wouldn't become guaranteed before Week 1, the Packers have their mandatory minicamp this week. The cornerback would attend it, according to a recent report from The Athletic's Matt Schneidman. The Packers couldn't prohibit him from doing so, and that would generate unnecessary risk of injury. If the cornerback had gotten hurt at practice, the Packers would have to handle significant extra spending.

After all, releasing Alexander now after failing to find a trade partner was the safest move.

Why a release, not a trade?

The Packers tried to trade Alexander for months, and there were some interested teams. However, according to Milwaukee Journal Sentinel reporter Tom Silverstein, teams want the cornerback to take a paycut as well. It didn't make sense for Jaire, who would naturally prefer to choose his next landing spot in free agency.

Without a willing trade partner and without agreeing to a restructured deal, the Packers had no other realistic options outside of outright releasing him.

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