The Green Bay Packers are about to gain a big chunk of salary cap space.
According to Adam Schefter of ESPN, the Packers will release veteran tight end Jimmy Graham on Thursday, ending the contractual relationship two years into his three-year, $30 million deal.
The salary cap implications are significant. While the Packers will assume $3,666,667 in dead cap charges, they’ll save $8,000,000 on the cap. Graham was scheduled to count $11,666,667 on the cap in 2020.
According to Over the Cap, the Packers will have almost $29 million in cap space once Graham is released.
The additional cap space could be used to re-sign right tackle Bryan Bulaga or get aggressive in free agency, with tight end Austin Hooper and linebacker Cory Littleton viewed as top targets. The Packers are also planning to extend the contracts of Pro Bowl defensive lineman Kenny Clark and running back Aaron Jones, and All-Pro left tackle David Bakhtiari has an expiring contract following the 2020 season.
The Packers paid Graham a little over $22 million over two seasons. He played in 32 regular season games, catching 93 passes for 1,083 yards and five touchdowns.
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