As is often the case, the Green Bay Packers didn’t make any major acquisitions near the trade deadline.
However, they did sell, trading edge rusher Preston Smith to the Pittsburgh Steelers in exchange for a seventh-round pick — essentially a salary dump.
Now that the trade deadline has passed, player acquisitions are limited to signing free agents, signing players off other teams’ practice squads, or claiming players off waivers.
After the deadline, every player, including vested veterans, must pass through waivers when cut.
Salary Cap Situation
Currently, the Packers have $15.527 million in salary cap space, as the Preston Smith trade freed up just over $2 million in 2024 cap space.
The real savings, though, come in the next few years. The Packers will clear $7.626 million in 2025, $18.207 million in 2026, and $1.667 million in the void year of 2027.
Independent cap analyst Ken Ingalls provides detailed breakdowns of the Packers’ finances.
He considers projected practice squad elevations and other small moves, estimating the Packers now have $14.475 million in effective cap space after the trade.
This gives Green Bay ample room to make any moves they wish at this time of year.
If an unexpectedly large opportunity arises, they still have the option to create additional space through contract restructures.
If they don’t use this cap space, it simply rolls over into 2025, adding to next year’s cap room.
As it stands, Over the Cap projects that the Packers will have $60.64 million in cap space in 2025, with 40 players already signed.
This figure accounts for significant contracts, including those of Jordan Love, Rashan Gary, Elgton Jenkins, Jaire Alexander, Xavier McKinney, Kenny Clark, and Josh Jacobs.
Overall, this is the most favorable cap situation the Packers have enjoyed in several years, certainly since the team’s spending increased during Aaron Rodgers’ final years in Green Bay.