Jaire Alexander situation takes a turn that gives the Packers hope for a positive outcome, but the ideal path remains distant

It doesn't sound like Jaire Alexander will play another down for the Green Bay Packers. And the team wants compensation for that. There is a market for the former All-Pro cornerback after all and, according to Tom Silverstein from the Milwaukee Journal Sentinel, the Packers have received calls about the player.

"According to two league sources monitoring Alexander's situation, the Packers have received interest in a trade and remain committed to waiting for a deal to be made instead of cutting him." - Tom Silverstein

If a trade doesn't happen, though, general manager Brian Gutekunst is expected to release Alexander at some point. According to Silverstein, a trade after the draft seems more probable, because teams that didn't address the cornerback position would be more willing to invest.

Where things stand

That's ultimately the smart approach for the Packers. Even though $17.5 million is a lot of money and the Packers are willing to part ways with the cornerback, getting something in return is still a viable option based on his past production.

"We invested a lot in Jaire and want to make sure, if he's not gonna be on our football team helping us win games, that we get something back for that investment," Gutekunst has said. "So we'll see where it goes."

Ideally, the Packers would want something done before the draft, but that's not a necessity. There isn't any type of trigger on Alexander's contract, so Green Bay can keep him around until Week 1 without any guarantees. He has two years left on his deal, slated to make $17.5 million in 2025 and $19.5 million in 2026.

And there is actually a benefit for waiting. If Jaire is traded before June 1, there will be $17.043 million in dead money, opening up $7.593 million in cap space.

If the trade is executed after June 1, the cap savings in 2025 jump to $17.117 million, because the dead money would be split—$7.518 million in 2025, $9.525 million in 2026.

The big problem for the Packers with Jaire Alexander has been the lack of availability. The cornerback missed 34 of the last 68 games over the past four seasons, and the combination of health issues and his price tag make it hard for Green Bay to keep him around—especially because the Packers don't have a super comfortable cap situation starting next offseason.

But this problem also applies to potential buyers, which makes the situation harder. Alexander is not willing to take a paycut, so if no other team wants to absorb the full deal, the Packers would have to cut him, and then the cornerback would be free to choose his next destination and negotiate a new contract.

On Tuesday, the Miami Dolphins put fellow cornerback Jalen Ramsey on the trade block as well, which could affect the veteran cornerback market—and what the Packers plan to do with Alexander.

For now, it's wait and see mode for Gutekunst. But at this point, it seems like a trade is much more likely than a release.