GREEN BAY, Wisconsin: The Green Bay Packers are expected to pay more than the $242 million salary cap when the 2024 offseason
begins. Hey, things might be worse. It has gotten worse as well. The Packers were almost $16.5 million over the 2023 salary ceiling
when the NFL set it at $224.8 million nearly exactly one year ago. Their overage increased to about $20.4 million as a result of having
to sign their draft selections. And that wasn’t taking into consideration the upcoming Aaron Rodgers transaction, which increased the
ledger by an additional $8.7 million. Therefore, Green Bay needed to spend an additional $29 million to break even, let alone have
enough cash to engage in free agency or make the required in-season purchases.
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The Packers are around $2.896 million over the salary cap, according to the accounting provided by OverTheCap.com. They will be
just above the cap by roughly $7.40 million once they sign their 11 expected draft picks, which include five players in the first three
rounds of the draft. Just ten teams have worse financial situations. Independent salary-cap expert Ken Ingalls is much more negative.
Once more, that is only to reach break-even. That does not take into consideration any free agent additions or resignings. It excludes
the space required for handling in-season movements and for assembling a practice squad. Furthermore, it does not account for the
consequences of Jordan Love’s impending big contract extension, which will almost definitely raise his $12.76 million cap charge for
2024.
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Brian Gutekunst, general manager, stated on Thursday that he believes the team is currently in a slightly better position than it was
previously. “Though it’s never perfect, I think we can take advantage of any opportunities to strengthen our team through free agency,
so I’m happy about that.”
