Packers cornerback Jaire Alexander has been the subject of trade speculation throughout the offseason after playing just 34 games over the last four seasons due to injury.
The 28-year-old is due $37MM over the next two years, per OverTheCap, which may be too much money for another team to take on in a trade. In order to facilitate a deal, the Packers may have to eat some of his $16.15MM 2025 salary, or Alexander would have to accept a revised contract, which would likely include a pay cut.
While Green Bay could afford to take on some of Alexander’s salary, they may not want to pay part of his salary for him to play for a different team. Alexander, meanwhile, would prefer to be released to he can choose his next destination, and he may deny an attempt to renegotiate his deal to help complete a trade, according to Sports Illustrated’s Albert Breer.
“I would think, at this point, the most likely scenario is that he’s back [in Green Bay] on a reduced contract that has incentives,” added Breer. Those incentives would almost certainly be centered around Alexander’s playing time given his injury history.
The Packers have grown accustomed to playing without Alexander and signed Nate Hobbs to a four-year, $48MM contract this offseason to give themselves more options in the secondary. If Alexander stays in Green Bay, he’ll start on the outside opposite Keisean Nixon with Hobbs in the slot. If not, Hobbs will likely pair with Nixon on the outside with safety Javon Bullard at nickel, according to The Athletic’s Matt Schneidman.
The 2024 second-rounder began his rookie year primarily playing free safety, but increasingly dropped into the slot as the year went on, especially after Alexander went down. If Alexander stays, Bullard might be relegated to the bench to give the Packers depth and injury insurance for multiple positions.