With Plenty of Cap Space, Why Did Packers Stop Spending in NFL Free Agency?

Why is general manager Brian Gutekunst sitting on the team’s fat-with-cash wallet rather than building upon one of the NFL’s best young rosters? Here’s a theory.

GREEN BAY, Wis. – The NFL salary-cap rankings are fluid based on the latest signings. Nonetheless, with the first week of NFL free agency wrapping up on Sunday, the Green Bay Packers had $24.55 million of space, according to OverTheCap.com. Only 10 teams had more.

With the Packers in good shape financially – and they’ll be in better shape after June 1, when $10.5 million of linebacker De’Vondre Campbell’s cap charge comes off the books – why hasn’t general manager Brian Gutekunst done anything to improve the team since adding Xavier McKinney and Josh Jacobs during the opening hours of free agency?

A team that caught fire down the stretch and reached the divisional round of the playoffs looks poised to compete for a championship. However, it still has some fatal flaws that could keep it out of the Super Bowl for a 14th consecutive year.

There is a massive hole at linebacker, where the third starter is special-teamer Kristian Welch. That’ll be addressed in the draft, no doubt, but the depth is thinner than the ice on Lake Michigan at the moment. (Hint: There is no ice on Lake Michigan.) Same for safety, where the starter opposite McKinney is Anthony Johnson Jr. and the next man up is Benny Sapp. The top backup on the offensive line is Royce Newman.

What could go wrong?

For Aaron Rodgers’ final seasons as Green Bay’s quarterback, Gutekunst was aggressive in pursuit of a Super Bowl. No, he wasn’t active in free agency, but he moved heaven and earth to keep the team together. The Packers paid for that approach last offseason, and they paid for it again this offseason.

That’s not the Packers’ preferred way of doing business, though.

For what almost certainly will be one of the youngest teams in the NFL again, it’s time to get back to a sound fiscal policy. That means a pay-as-you-go approach to cap management rather than the credit-card approach of the past couple years.

That’s my guess as to why Gutekunst has sat on the team checkbook since Monday. With Jordan Love only 25 years old, the Packers’ championship isn’t going to close anytime soon. Thus, Gutekunst’s measured approach to building the roster seems appropriate.

In 2025, once 51 players are under contract, the Packers are almost $60 million under the cap, according to OTC. That’s pending whatever Love’s contract extension looks like, obviously. Will it start cheap before getting incredibly expensive, or will those tens of millions of dollars be distributed relatively in line with projected cap increases?

Just like this offseason, the keeping-your-best-players part of free agency should be a breeze next year. The best free agent, defensive tackle Kenny Clark, probably will be extended this season. Three other starters, center Josh Myers, defensive tackle TJ Slaton and linebacker Isaiah McDuffie, will be free agents, as well. So will cornerback Eric Stokes.

The 2026 offseason, will be a different story. And by different, we mean expensive. That’s because the team’s powerful 2022 draft class will be headed to free agency.

The first-round picks were linebacker Quay Walker and defensive tackle Devonte Wyatt. They were followed by receiver Christian Watson in the second round, guard Sean Rhyan in the third round, receiver Romeo Doubs and right tackle Zach Tom in the fourth round, and left tackle Rasheed Walker in the seventh round.

That’s seven players who could be starting in 2024.

So long as Watson gets his hamstring issues solved and the other six players keep trending the right way as part of a contending team, free agency in 2026 is going to be wildly expensive.

A team can only afford so many big contracts. Tough decisions will have to be made.

And that’s not even getting to 2027, when the team’s potent 2023 draft class will be hitting free agency.

Unused cap space in 2024 can be carried into the next season. Whatever Gutekunst doesn’t spend – and, at this point, it might be a lot – can be pocketed for 2025. And whatever isn’t spent in 2025 can be used in 2026 and 2027 to make sure as much of a talented core of players can be kept together for the long haul.

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