This is an exercise I have done for a couple of years, and this is by far the most comfortable the Green Bay Packers have been in terms of salary cap space since then. After spending a lot in the twilight years of Aaron Rodgers, the Packers had to use the last two years to pump the brakes and avoid overspending—the Packers would never go full New Orleans Saints with the way they built their cap plan.
In 2025, the Packers have $42.14 million in projected cap space. That's before adjusting any contract, but also before re-signing any free agents or adding anyone. Anyhow, the situation is comfortable now, and it was rough a year ago, when Green Bay was forced to restructure several veteran deals just to be cap compliant.
The Packers can still open up a lot of cap space if they want or need to. Brian Gutekunst talked about ramping up the sense of urgency to win a championship next year, so investing in the roster is an obvious part of that process.
If Green Bay wants, it can create up to almost $74 million without cutting anyone, just by restructuring contracts with void years. This is probably something the Packers will try to avoid, as they want healthier cap management now that the Rodgers' era is over, but it's just a way to exemplify how much flexibility the front office has.
Independent cap analyst Ken Ingalls does a great job with this stuff, and he has the full numbers in detail.
The Packers can create almost $74M of additional cap space in an afternoon of paperwork if they wanted.
— Ken - Packers Cap (@KenIngalls) February 6, 2025
They don't need to restructure anybody for cap space this season - So if we see it it means they are getting ready to spend pic.twitter.com/SQcWVdoabo
*Ingalls adjusted later, because Love's max void restructure would generate $8.941 million of 2025 cap space as well.
The most cap space could be opened up by restructuring defensive end Rashan Gary and cornerback Jaire Alexander—the situation with the defensive back is more complicated, though, because he might get cut if he doesn't agree to a real paycut.
Good young players like Jordan Love, Xavier McKinney, and Josh Jacobs, who are more likely to play out their current deals, are also more likely to get their contracts restructured. Kenny Clark, for instance, offers a trickier option after he signed a third contract last offseason and didn't play as well in 2024.
The Packers have a lot of flexibility moving forward, and it's possible to add anyone in free agency if Gutekunst really wants to. It's just a matter of making the right moves, because the money part will certainly be feasible.
More must-reads:
Get the latest news and rumors, customized to your favorite sports and teams. Emailed daily. Always free!