Finally, it’s official. The NFL informed its teams on Wednesday morning that it has set a salary cap for the 2021 season and, as expected, is very close to the smallest possible number, as communicated a few weeks ago.
According to several league members, the basic limit is $ 182.5 million for 2021.
For Green Bay Packers, this means that their adjusted limit number, which includes 2020 rollover and other adjustments, is $ 186,174,018. With Packers’ top 51 contracts (plus dead money) currently representing $ 191,497,057, according to Overthecap.com, this leaves them with $ 9,426,181 over the limit at the moment.
The Packers will have seven days to cut that amount of money from their books for the next season. Teams are expected to be below the maximum number when the new league year begins at 4:00 PM Eastern on Wednesday, March 17.
With the limit number reaching the lower limit, it means that the urgency for the Packers to find some contract adjustments – and probably to make some veteran cuts – has increased somewhat. Packers may need to part ways with players like Preston Smith and Dean Lowry, while Aaron Rodgers may be prepared for a restructuring of his business to transfer the maximum capital to 2022 and beyond. The team would certainly also like to extend Davante Adams’ contract, which ends after the next season, and can free up money for 2021 matches by doing so.
Remember that Packers must obtain significantly under the cover at some point. The top 51 rule – which states that teams only need to count the 51 highest number of matches in the off-season – disappears at the start of the regular season. In addition, the team will need space to sign their selection projects and use bids on agents free of restricted and exclusive rights.
Expect news of these changes to start dripping this week, before rising over the weekend and early next week.