Packers’ Updated Salary Cap After Josh Jacobs, Xavier McKinney Contracts

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The Green Bay Packers got better on both sides of the ball with a pair of big-money free-agent deals.

The Packers reportedly signed running back Josh Jacobs to a four-year, $48 million contract and also added safety Xavier McKinney on a four-year, $68 million deal.

Per Over The Cap, Green Bay had $25.8 million in cap space prior to those deals. The team got some relief after the departure of running back Aaron Jones, who was set to count for a $17.5 million cap hit in 2024 but was informed he would be released after the Jacobs signing.

The Packers already moved a big number off the books on Monday when they released veteran left tackle David Bakhtiari, who would have counted for a $40.5 million cap hit had he been on the roster to start the season.

Jacobs comes to Green Bay after spending the first five years of his career with the Las Vegas Raiders. He led the NFL with 1,653 rushing yards in 2022. In 2023, he was limited to 13 games and finished with 805 yards.

The Packers are hoping the 26-year-old will regain his form as he joins a young offense led by quarterback Jordan Love, who is entering his second year as the full-time starter.

McKinney spent his first four years with the New York Giants and is coming off his best season. He recorded career highs of 116 total tackles, 11 passes defended and two fumble recoveries while adding three interceptions and a forced fumble.

The Packers are in an even better position to compete for a second straight trip to the playoffs after Monday’s deals.