The Green Bay Packers will enter the 2024 offseason with the goal of progressing from a playoff caliber team to a Super Bowl contender. Jordan Love and the youthful offense he leads have shown the NFL that Green Bay has a bright future.
The defense will undergo significant adjustments, but with the abundance of quality on that side of the ball, expectations will remain high. One of those talented players has recently become the focus of trade rumors. Today, Packers General Manager Brian Gutekunst addressed the rumors.
According to Ryan Wood of USA Today, the Green Bay Packers general manager has made a harsh statement regarding the rumors surrounding Jaire Alexander’s trade.
Brian Gutekunst says there are no plans to trade Jaire Alexander this summer. He was delighted with Alexander’s return from suspension and expects him to be a backbone of the #Packers defense going ahead.
Last season, Alexander and the organization negotiated a four-year deal worth $84 million. Originally, only $30 million of the $84 million was guaranteed as a signing bonus. That incentive is prorated (at $6 million per year) over the salary cap for Alexander’s five-year contract at the time of signing.
How much would it cost to trade Alexander?
As a result, Alexander’s base dead cap (the cost of trading or releasing him) in 2024 will be $18 million (the remaining signing bonus dead cap). Furthermore, the majority of Alexander’s 2023 earnings were restructured as a bonus. As a result of the new bonus, the team’s dead cap will increase by $9.4 million if Alexander is replaced in 2024, taking the overall dead cap above $27 million.
What are the implications of a $27 million dead cap? In NFL history, only four dead caps have been greater than this one: Matt Ryan, Aaron Rodgers, Tom Brady (retired), and Carson Wentz. In other words, it would be the most significant cap hit for a non-quarterback in NFL history.
On top of that, he is one of the best in the league at his position, and he has a terrific chemistry with the coaching staff (even after being suspended). Matt LaFleur frequently speaks favorably of Alexander. As if we needed any more reassurance, Jaire Alexander will remain with the Packers for the foreseeable future.
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