Ian Rapoport reports that the Packers have restructured the contracts of CB Jaire Alexander and LB Preston Smith in order to create $9.456 million and $6.668 million in cap space.
Alexander, 26, is the former 18th overall selection in the 2018 NFL Draft by the Packers. He was entering the fourth year of a four-year, $12.050 million dollar rookie deal that included a $6.844 million dollar signing bonus before Green Bay picked up his option.
Alexander was set to make a fully guaranteed base salary of $13.294 million in 2022 under the fifth-year option when the Packers signed him to a four-year, $84 million extension.
In 2022, Alexander appeared in 16 games for the Packers, recording 56 tackles and four interceptions.
Smith, 30, is a former second-round pick by Washington out of Mississippi State back in 2015. He played out the final year of his four-year rookie contract before signing a four-year, $52 million deal with the Packers in 2019.
Smith was entering the final year of that deal in 2022 and was due $12.5 million in compensation between salaries and bonuses. He then signed a four-year, $52.5 million extension with the team in March of 2022.
In 2022, Smith appeared in 17 games for the Packers and recorded 59 total tackles, one forced fumble, and eight and a half sacks.
Looking for the latest NFL Insider News & Rumors?
Be sure to follow NFL Trade Rumors on TWITTER and FACEBOOK for breaking NFL News and Rumors for all 32 teams!
