During the 2024 NFL Combine in Indianapolis, the Green Bay Packers engaged in discussions with Aaron Jones’ representatives aimed at revising his contract to alleviate his impact on the team’s salary cap, as reported by the Milwaukee Journal Sentinel.
At 29 years old, Jones is set to have an $11 million impact on the cap this season, a figure the Packers are eager to reduce, especially with plans for a substantial contract extension for quarterback Jordan Love looming.
Insights provided by Tom Silverstein suggest that if an agreement isn’t reached within the next two weeks, the Packers may opt to release Jones with the hope that their offer won’t be matched in the open market. They would then seek to re-sign him at a more favorable price.
If the Packers were to release Jones before the start of the new league year and designate him as a June 1 cut, they would gain $11.85 million in additional cap space for the 2024 season while incurring a $5.71 million dead money charge.
Jones is currently set to count $17.5 million against the cap this season, including an $11 million base salary in the final year of a four-year deal signed with the Packers in 2021.
Reasons for the Packers’ firm stance with Aaron Jones include the leverage they hold over him, especially given the availability of several high-profile free agent running backs if the team decides to part ways with him. Notable names such as Saquon Barkley, Derrick Henry, Tony Pollard, Austin Ekeler, and D’Andre Swift add considerable star power to this year’s pool of free agent running backs. It remains uncertain whether Jones would command one of the top contracts in the open market, particularly following a season marred by hamstring and knee injuries.
Despite the salary cap increasing to $255.4 million this offseason, the Packers find themselves with only about $12.7 million in cap space.
According to Spotrac, Jones’ market value is notably lower than his current deal, with his projected contract being a one-year agreement valued at $5.1 million.
Given these circumstances, Green Bay appears to have the advantage in negotiations and would likely prefer to allocate a significant portion of Jones’ current cap space to more critical positions on the roster.
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