The Green Bay Packers finished 2025 9-7-1, good enough for the 7th seed in the NFC playoffs. The Packers enter 2026 about $3.8M over a projected $304M league salary cap threshold. This figure includes 43 contracts on the books, led by QB Jordan Love’s $36M figure.

Green Bay gave up their first round pick in the Micah Parsons’ deal, but still boast 8 selections, including 2 projected 7th round compensatory picks. Packers Future Draft Picks

Early Offseason Questions

  • Does the addition of Parsons make an edge defender or two tradable this offseason?
  • Have the Packers seen enough of WR Watson and TE Kraft to consider extensions?

Notable Free Agents

(Spotrac Valuation APY)

OT Rasheed Walker ($20.6M)
WR Romeo Doubs ($12M)
QB Malik Willis ($10.5M)
OLB Quay Walker ($9.8M)
C Sean Rhyan ($6.5M)
DE Kingsley Enagbare ($6M)

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Option Decision

ED Lukas Van Ness

Van Ness has seen his role diminish mightily in 2025, but he’s done a nice job of making the most of his limited action. With that said, it’s hard to imagine Green Bay locking in a projected $14.5M guarantee for 2027 with this option decision.

Extension Candidate

WR Christian Watson

Watson signed a bridge extension last September that paid him a little over $7.2M in 2025. There’s $5.75M available in 2026 (plus $2.25M of incentive), but he shined through 10 regular season games. Injuries remain a major red flag here, but the floor for Watson financially now calculates near $16M per year, with potential for a much higher ceiling.

DL Devonte Wyatt

The 27-year-old suffered a season ending ankle injury in early December, but was putting together yet another stat-filled campaign on the Green Bay D-Line. Arguably their most productive IDL heading into 2026, Wyatt is entering a contract year, with a fully guaranteed $12.9M exercised option on the books. He currently projects toward a 3 year, $37M extension in our system.

Bubble Candidates

CB Trevon Diggs

Release Candidate

Added as a Week 18 waiver claim, Diggs has an unprotected $57M on the books through 2028. With Green Bay in cap trouble to begin the year, it seems logical that they’ll get out of this contract, freeing up the $15.5M cap hit (though a reunion could very well be in the mix).

OL Elgton Jenkins

Release Candidate

Jenkins has bounced around the O-Line with success, but he heads into a contract year rehabbing a fractured fibula. With an unprotected $20M to be earned, Jenkins is certainly an extension candidate if the two sides still see a future, but there’s also $20M of cap space to be freed up in moving on.

CB Nate Hobbs

Release Candidate

Signed a 4 year, $48 million free agent contract this past March, but struggled through much of a 2025 season that was eventually cut short with a hand injury. There’s a $6.25M roster bonus due March 13th, and Green Bay would only free up $1M with an outright release, so this remains a less than likely outcome for now.

ED Rashan Gary

Trade Candidate

Gary is set to enter Year 4 of a 5 year, $107.7M contract, set to earn $19.5M for the upcoming season. The deal contains an unprotected $42M over the next two seasons. Micah Parsons’ injury probably means he stays put through 2026, but there’s a world where Green Bay fields a call or two.

Potential Cap Conversions

QB Jordan Love’s 2026 salary is already guaranteed. A base salary conversion can free up almost $8M.

RB Josh Jacobs is owed a $10.2M (unprotected) salary in 2026. Converting most of that to signing bonus (plus void years) can free up nearly $8M of cap.

Green Bay can free up over $13M of cap by converting G Aaron Banks’s salary & roster bonus into signing bonus (plus 2 void years).

CB Nate Hobbs has a $6.25M roster bonus due early March. Converting that to a signing bonus with void years can free up $5M of it.

Converting S Xavier McKinney’s base salary & roster bonus into signing bonus (plus 3 void years) can open up $9.4M of space.

ED Rashan Gary holds an $18M base salary in 2026. Converting most of that to signing bonus plus void years can open up over $14M of cap.

RELATED LINKS
Packers 2026 Salary Cap
2026 Packers Free Agents
Spotrac’s Offseason Guide