Running back Aaron Jones is staying in Green Bay for the 2023 season. According to ESPN's Adam Schefter, the Pro Bowler agreed to a contract restructure that includes a $ 5 million pay cut. By lowering his 2023 earnings, Jones also allowed the Packers to touch the structure of his deal. From the $ 11 million he is going to make this season, $ 8.52 million are in the form of a signing bonus, which means it will be prorated through multiple seasons — probably five, if the Packers included void years to lower this year's cap hit.
That means the Packers freed up almost $ 12 million in cap space — Jones' cap hit is down from $ 20.