Jaire Alexander‘s time in Green Bay has come to an end. After talks regarding both a trade and a restructure took place this offseason, the Pro Bowl corner will hit free agency. Alexander is being released today, as first reported by NFL Network’s Ian Rapoport. The move is now official.
The team spoke with Alexander’s camp yesterday, Dianna Russini and Matt Schneidman of The Athletic add. It was during that meeting that the 28-year-old learned he would be let go. Instead of continuing to pursue a trade or a pact keeping Alexander in Green Bay at a reduced rate, team and player will now go their separate ways. Despite the financial impasse the parties arrived at, ESPN’s Rob Demovsky notes Alexander was planning to attend this week’s mandatory minicamp.
[RELATED: Alexander’s Contract Impeded Packers’ Trade Efforts]
Two years remained on the former first-rounder’s contract, one which included nonguaranteed base salaries for the remainder of the pact. Alexander was due to carry cap charges of $24.64MM and $27.02MM, figures which were not feasible from the team’s perspective given his inability to remain healthy in recent years. By making this move after June 1, the Packers will see $17.12MM in cap savings while generating a dead money charge of $7.52MM.
Alexander has spent each of his seven NFL seasons in Green Bay, operating as a full-time starter throughout his time with the team. The Louisville product has been one of the league’s top corners when healthy, and he collected a second-team All-Pro nod in 2020 and ’22. During the latter campaign, Alexander set a new career high with five interceptions while recording double-digit pass deflections (14) for the fourth time. Both years since then, however, he has played only seven games.
That lack of availability has made Alexander’s Packers future a talking point for some time now. A trade was not only explored in this case, but the team shopped him prior to free agency. No agreement was worked out on that front, and shortly after the new league year began Green Bay inked Nate Hobbs to a four-year, $48MM pact. The former Raider will be a key member of the Packers’ new-look secondary this season as the team looks to move forward without a defensive mainstay in the fold any longer.
In the meantime, it will be interesting to see how much of a market develops for Alexander late in the offseason. Suitors were understandably hesitant about parting ways with draft capital given his injury issues and the possibility of a release taking place. Now that Alexander is indeed set to become a free agent, any number of teams have the financial wherewithal to pursue what will no doubt be a short-term deal. Alexander was the league’s highest-paid corner at the time he inked his Packers extension, but his earning power will of course be greatly reduced this time around.
Jalen Ramsey looms as another high-profile corner available to interested teams, although the Dolphins All-Pro will (in all likelihood) be acquired via trade. Alexander, by contrast, can begin lining up visits with suitors once his release is processed later today.