The Packers signed one of their stars to a massive extension earlier this offseason with Aaron Rodgers. They have done so again with cornerback Jaire Alexander. The team is extending him on a four-year, $84MM contract (Twitter link via ESPN’s Adam Schefter).
As Schefter notes, the deal includes a $30MM signing bonus, which is a record for corners and will allow him to earn $31MM in 2022. Overall, the annual average of $21MM per year represents another high-mark at the position, and makes him the third CB to eclipse the $20MM-per-season plateau (along with Jalen Ramsey and Denzel Ward).
While those numbers are high, only Alexander’s signing bonus is guaranteed. Among cornerbacks, Alexander agreed to deal that slots him only 12th in terms of fully guaranteed money. That said, the Pro Bowl cornerback should be expected to be with the Packers for a while. His 2025 and ’26 base salaries, per Pro Football Talk’s Mike Florio, jump to $16.2MM and $18.2MM, respectively. Alexander’s deal also includes an $8MM roster bonus in 2024. This transaction continues the Packers’ pattern of not guaranteeing any money to a non-quarterback beyond the first year, Florio adds, noting only they and the Bengals still use this old-school method.
A first round pick in 2018, Alexander has been an immediate starter and anchor of the team’s secondary since his arrival. He was named a Pro Bowler for the first time in 2020, leading to increased optimism for this past season. The 25-year-old was limited to just four regular season games due to a shoulder injury, however. With the team having picked up his fifth-year option, it was already a guarantee he would be suiting up for Green Bay for at least the 2022 campaign.
The two sides began negotiations on a long-term extension this offseason, one which saw plenty of other notable moves being made by the team to try and stay competitive while remaining cap compliant. It came out not long after free agency began that the Louisville product was seeking a deal which would place him at the top of the CB market. This news confirms that he has accomplished that goal.
Schefter adds that Alexander’s cap number will be lowered in 2022 by virtue of his base salary being valued at just over $1MM. That will help the Packers absorb another record-breaking contract as they try to extend their Super Bowl window. Alexander will remain with the team through 2026 at the head of a secondary also featuring the likes of Eric Stokes, Rasul Douglas, Darnell Savage and Adrian Amos.