The Green Bay Packers re-signed kicker Mason Crosby, made two moves before the start of the new league year and brought back a pair of role players, but GM Brian Gutekunst has mostly sat out free agency.
The financials of the situation help show why.
According to Albert Breer of SI.com, only five teams currently have less cap space than the Packers, who – per the NFL’s books – have only $14.8 million in available space as of Monday.
Only the Kansas City Chiefs, New England Patriots, New Orleans Saints, Pittsburgh Steelers and Atlanta Falcons have less total cap space.
The NFL’s numbers align with the numbers kept by Ken Ingalls, a CPA who tracks the Packers cap. He has the Packers at roughly $12.4 million, but his accounting includes the re-signing of tight end Marcedes Lewis, which hasn’t been officially announced.
Over the Cap has the Packers with about $12.8 million in cap space. By their up-to-date accounting, the Packers rank 10th in the NFL in available cap room.
The money doesn’t go far. The Packers still need to pay for an incoming draft class and next year’s practice squad, and teams generally reserve a chunk of money for necessary in-season additions. Per Ingalls, the Packers are essentially tapped out in terms of actual spending money, although GM Brian Gutekunst and cap manager Russ Ball could pull a few strings and create extra room.
A Very Small Packers Salary Cap Update:
Made a minor change, adding a credited season to a player after discussing with @dely over at @RosterMon. Added $75K of contract cost to my cap numbers.
Make sure to follow Dave (he's a Packers fan!) and check out his site – It's great! pic.twitter.com/OzZAhGMjp6
— Ken Ingalls – Packers Cap 💰 (@KenIngalls) March 23, 2020
The Packers went bargaining shopping early, signing linebacker Christian Kirksey and right tackle Rick Wagner at a combined cap hit of under $9 million in 2020.
Might the Packers be done? Or close to done? It’s certainly possible. Space is limited, and big decisions are coming up fast.
Gutekunst and Ball must consider looming mega extensions for left tackle David Bakhtiari and defensive lineman Kenny Clark, and even potential new deals for running back Aaron Jones, cornerback Kevin King and center Corey Linsley. All five will be free agents following the 2020 season.
According to Bill Huber of SI, the Packers didn’t go after a top inside linebacker in free agency because Gutekunst was reluctant to add another big contract on that side of the ball. Last year, the Packers signed three new starters with big deals.
Teams have ways of working the cap, including converting roster bonuses into signing bonuses and extending players for more years to lower than present year cap hit. The Packers employed that tactic early in the offseason with quarterback Aaron Rodgers. For now, the spending power has mostly dried up in Green Bay.