The Packers have a number of decisions to make to get under the salary cap in time for the start of free agency. One way they could create some room for the 2022 season – and make a long-term commitment to a major piece of their defense in the process – is signing cornerback Jaire Alexander to an extension. 
As Pro Football Talk’s Michael David Smith writes, that could take place soon. The Packers are engaged in talks for a “long-term” deal, something that wouldn’t come as a surprise given the 25-year-old’s level of play in his career. He entered the 2021 campaign with Pro Bowl and Second Team All-Pro honors already to his name, although the 2022 season didn’t go as planned.
Due to a shoulder injury suffered in October, Alexander was limited to four games played. He registered 13 tackles, one interception and three pass breakups, while maintaining his high-end coverage performance. For his career, he has 188 total tackles, five picks and 44 pass breakups.
A first rounder in 2018, Alexander is currently slated to play the 2022 season on his fifth year option. Without a new deal, he will earn a guaranteed $13.3MM – a figure which would represent a comparative bargain given where he ranks amongst the league’s top corners, but that the Packers could try to lower for short-term breathing room. For that reason, Smith notes, any new pact would likely involve more money paid as a signing bonus spread over the length of the contract.
A new deal doesn’t have to get done for Alexander to play in 2022, but doing so sooner rather than later would have benefits for both team and player in this case. In any event, the Packers still have a long way to go to reach cap compliance, so more moves of some kind will be forthcoming.