The Jaire Alexander sweepstakes came to an end on Wednesday when he agreed to a deal with the Ravens. 2025 will mark the first season of his career played outside of Green Bay. 
Alexander’s future was a talking point for much of the offseason, with the Packers holding trade talks on multiple occasions during the spring. Those efforts did not yield an agreement, as suitors were understandably leery of taking on the remaining two years of his contract. In the end, the two-time Pro Bowler got his wish in terms of being released (and thus choosing his next team via free agency) as opposed to a trade.
Before the Packers elected to move on, though, a push was made to work out a pay cut agreement. A restructure – in particular, one which would have made Alexander a free agent next offseason – was offered. It would appear the proposed short-term pact did not feature guaranteed compensation, a key factor a determining the end to this situation. Alexander’s father Landis spoke about the split with the Packers during an appearance on ESPN Wisconsin radio (video link).
“[Head coach] Matt LaFleur had reached out to him on his birthday, things like that,” Alexander said about discussions which took place with his son. “He wasn’t upset or angry with anybody. He wanted to come back. I thought that he was going to be there.”
At issue in this case, as Landis Alexander noted, was the fact the Packers’ pay cut offer did not feature any locked in money up front. None of the base salary originally owed ($16.5MM) was guaranteed, but a compromise was sought on Alexander’s side in which a reduction in overall pay was accompanied by a guarantee figure. Without any salary locked in or a signing bonus present in the offer – per the elder Alexander’s account of the negotiating process – the parties elected to move on.
Immediate interest was show once Alexander hit the open market, although the Ravens were not initially reported to be a suitor. Still, it comes as little surprise the Louisville product chose to reunite with college teammate Lamar Jackson for 2025. Alexander will collect $4MM in base pay with another $2MM available through incentives. That compensation falls well short of the $21MM annual average value of his previous deal, but the fact guaranteed money is present marks a contrast to the Packers’ stance.
It was reported yesterday the Ravens’ offer was not the most lucrative one Alexander fielded, something corroborated by The Athletic’s Jeff Zrebiec (subscription required). Now, the 28-year-old will join a secondary including other first-rounders at cornerback (Marlon Humphrey, Nate Wiggins) and safety (Kyle Hamilton, Malaki Starks) as Baltimore looks to avoid the pass defense struggles which were prevalent for much of last season. The Packers, meanwhile, will proceed with a secondary no longer featuring its highest-paid member for 2025 and beyond.