Packers get under 2023 salary cap by restructuring deals for Aaron Jones, Jaire Alexander and Preston Smith

Three restructured contracts provided almost $28 million in salary cap relief and put the Green Bay Packers a little over $6 million under the 2023 salary cap with about two weeks before the start of the new league year.

The Packers restructured deals for running back Aaron Jones, cornerback Jaire Alexander and outside linebacker Preston Smith – three foundational players on the roster – to create the salary cap relief.

According to Over the Cap, the Packers are now $6.43 million under the cap.

In all three restructures, the Packers converted base salary and roster bonuses into signing bonuses and added a void year to maximum the salary cap savings in 2023.

Jones’ restructuring saved roughly $11.8 million. Restructures for Alexander and Smith saved approximately $9.5 million and $6.7 million, respectively. Add it up, and the Packers shaved $27.96 million off the cap in three relatively easy moves.

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