PRESTON SMITH:
The Packers gained $2.4M in cap space when Preston Smith agreed to a pay cut in that amount, per Field Yates. It appears that Smith's base pay will be reduced from $5.6M to $3.2M. Smith's $5.4M roster bonus is unchanged and it is due to be paid on March 16, 2024. In exchange, Smith received incentives of up to $4M for sacks in 2024. The incentives are not-likely-to-be-earned because he reportedly would need to have at least 10 sacks to trigger the lowest incentive and Smith only had 8 sacks last year.