The Green Bay Packers have been working ever closer to the $ 182.5 million mark, which is the salary cap set for the league’s 2021 year. On Friday, Green Bay entered the day with about $ 9.6 million above the salary cap and has made four cap economy moves since then – some being larger than others.
The first move that was made was the restructuring of the Adrian Amos deal, which released about $ 750,000 in 2021 cap space. They then dismissed John Lovett, which saved another $ 120,000. These are two very small moves in the grand scheme of things, but later that night, it was reported that Preston Smith was cut off from many incentives that resulted in savings of $ 7.25 million.
More recently, on Saturday, Billy Turner would restructure his business; however, exactly how much was saved is still unknown. According to Sports Illustrated’s Bill Huber, the Green Bay Packers saved $ 500,000 by converting $ 1 million of their bonus into a subscription bonus, but also converted part of their base salary into a subscription bonus. But that amount is unknown at this point.
So, depending on where Turner’s restructured contract fits, the Green Bay Packers are either just above the salary cap yet, or have made their way down. But even if they are below, there is still work to be done.
These salary ceilings that we see everywhere do not include expenses such as the payment of the recruiting class or training roster, and do not take into account the expenses of the season, among other things. CPA and salary cap guru Ken Ingalls projects that the Green Bay Packers still need an additional $ 11.9 million in available space to cover these costs. And that doesn’t include any free agent additions.
Clearly, there is still work to be done, but the Green Bay Packers still have some big capital economy moves at stake. Now, will they use all three? This is yet to be seen, but here are three options still available.
Green Bay Packers Cap Saving Move: Za’Darius Smith Extension
This is a movement that went unnoticed during much of the off-season, but among the fan base it started to gain strength last week, when Za’Darius Smith tweeted, “I want to be a packer for the rest of my life !!” Does this mean that an extension is approaching? Well, it’s up to you to decide, but regardless, it makes a lot of sense.
Smith arrives with a huge success in 2021 of $ 22 million, including a base salary of $ 10.75 million and a $ 5 million list bonus. Any of these could be converted into a signing bonus – also known as cash – and prorated over the life of the business. The advantage of an extension and addition of years to Smith’s business, which currently ends in 2022, is that you will have more years to extend the limit reached.
From the field point of view, this also makes a lot of sense. Smith registered 13.5 bags and led the league in pressures in 2019, and last year, he had 12.5 bags and was named an All-Pro. Not to mention that he’s been one of the leaders in the locker room since he set foot in Green Bay.
At 28, Smith has been one of the most productive top scorers in the NFL for the past two seasons, and as Ross Uglem from the Packer Report mentions, even if he misses half a step at the end of his extension, his playing style will still make him an effective player.
While these numbers are subject to change based on how much of Smith’s salary and on-call bonus is pushed into future years, according to Over the Cap, they project that an extension could free up to $ 12.4 million in space. capitalization this year.