Green Bay Packers defensive end Rashan Gary (52) didn’t have a sack in the final 11 games.
Copyright 2025 The Associated Press. All rights reserved.
The Green Bay Packers’ 2026 salary cap situation isn’t pretty. With a handful of moves that should largely be no-brainers, though, Green Bay can position itself to be a player in free agency.
The 2026 salary cap hasn’t been set yet, but is projected to be at roughly $295.5 million. The 2025 cap was $279.2 million.
According to overthecap.com, the Packers are currently $10.7 million over next year’s projected cap. And with major needs at cornerback, defensive tackle and perhaps offensive line, Green Bay would love to be active when free agency begins on March 11.
Here are five moves that could free up plenty of cap space for the Packers to be players in free agency.
1. Cut Elgton Jenkins
Jenkins was moved from left guard to center in 2025 and struggled with the change. Jenkins then suffered a fractured fibula on Nov. 10, an injury that takes up to six months to recover from.
In addition, Jenkins turned 30 in December, an age where Green Bay general manager Brian Gutekunst typically moves on from players.
Jenkins carries a cap number of $24.33 million in 2026, the fourth-highest on the roster. The Packers would save $19.53 million by releasing Jenkins before or after June 1.
There’s an outside chance Green Bay would ask Jenkins to restructure his deal, move him back to left guard and cut 2025 free agent signee Aaron Banks. Odds are, though, the Packers will cut the cord with Jenkins.
Projected cap savings: $19.53 million
2. Cut Rashan Gary
This might be the easiest move of the offseason for the Packers.
Gary’s cap number in 2026 is $28.02 million, the second-highest on the team behind quarterback Jordan Love ($36.12M). After beginning last season with 7.5 sacks in the first seven games, the 28-year-old Gary didn’t have a single sack in the final 11 games.
Gary failed to set the edge far too often, and looked slow, tired and old trying to pursue quarterbacks. And despite being healthy all season, Gary played just 58.3% of the defensive snaps.
If the Packers cut Gary before June 1, they’d free up $10.98 million in cap space. If they cut him after June 1, that number jumps to $19.5M.
Chances are the Packers will move on from Gary before free agency hits to free up cap space immediately.
Projected cap savings: $10.98 million
3. Cut Nate Hobbs
The Packers gave Hobbs a four-year, $48 million contract in free agency last offseason and were hoping he could become their No. 1 corner. Instead, the injury-prone Hobbs missed seven games with a knee injury that required surgery, played just 32.0% of the snaps and made virtually no impact.
The only guaranteed money in Hobbs’ contract was a $16 million signing bonus, meaning the Packers don’t owe him anything in 2026, and beyond.
Hobbs has a cap hit of $12.84 million this season, and it’s highly unlikely the Packers want that on their books. Green Bay saves just $838,000 by cutting Hobbs before June 1, but $8.84 million by releasing him after June 1.
If the Packers can free up enough space by addressing other players first, it might make the most sense to move on from Hobbs after June 1.
Projected cap savings: $8.84 million
4. Restructure Aaron Banks
Banks, who signed a four-year, $77 million contract during fee agency last season, was a colossal disappointment at left guard.
According to Pro Football Focus, Banks ranked 66th out of 81 guards last season, allowing 28 pressures in 435 pass blocking snaps (6.4%).
Banks carries a cap number of $24.79 million, the third-highest on the team.
If Green Bay released Banks before June 1, it would save $4.54 million against the cap. That number balloons to $18.4 million if Banks is released after June 1.
The Packers could certainly dump Banks and move Jenkins back to left guard. But the fact Banks is two years younger means he’ll probably get the nod and agree to a restructured contract.
Projected cap savings: $10 million
5. Cut Brandon McManus
McManus ranked just 30th in the league in field goal percentage (80.0%) last season. Then he had a dreadful performance in the Packers’ 31-27 playoff loss to Chicago, leaving seven points behind after missing two field goals and an extra point.
McManus, who turns 35 during training camp, dealt with a right quadriceps injury throughout the season. And the Packers must decide if that was the reason for his struggles, or if he’s simply reached the end.
Green Bay would save $1.94 million by releasing McManus before June 1 and $3.61 million by dumping him after that date.
The Packers have lacked consistency from their kickers since moving on from Mason Crosby after the 2022 season ended. Perhaps they go young and cheap with a mid-to-late round rookie or a street free agent.
Projected cap savings: $1.94 million