The Green Bay Packers have always had a tendency to re-sign their own drafted players to lucrative contracts extensions as their rookie contracts are set to expire. This was also true for 2018 first round pick Jaire Alexander, who signed a four-year $84 million contract extension with the Packers prior to the 2022 NFL season.
The contract was a bit of a gamble by Green Bay, as Alexander missed all but four games of the 2021 season with a severe shoulder injury. However, Alexander played extremely well in 2022, recording a career-high five interceptions and making his second Pro Bowl.
Last season, though, was a different story. Alexander battled injuries all year and was suspended for one game by the team for his antics during the coin flip of a game with the Carolina Panthers.
As Alexander prepares for a bounce-back season in 2024, he will do so as the NFL’s second-highest paid cornerback.
Green Bay Packers CB Jaire Alexander Is No Longer the Highest Paid Player at His Position
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When Alexander signed his extension back in May of 2022, it made him the highest-paid cornerback in NFL history with an average annual salary of $21 million per year. This morning, he was surpassed by Denver Bronco’s star Patrick Surtain II.
According to Ian Rapoport of the NFL Network, Surtain and the Broncos are in agreement on a four-year $96 million deal, with $77.5 million guaranteed.
🚨 🚨 🚨
Sources: The #Broncos and star CB Patrick Surtain II have agreed to terms on a massive 4-year extension worth $96M — $24M per year.
The 24-year-old gets $77.5M guaranteed. The deal done by Tory Dandy of CAA makes Surtain the highest-paid DB in NFL history 💰 💰 💰 pic.twitter.com/ZU8YzmiTaj
— Ian Rapoport (@RapSheet) September 4, 2024
With a $24 million average annual salary, Surtain is now the highest-paid cornerback in the league. Alexander slides down to second, ahead of AJ Terrell of the Atlanta Falcons, Denzel Ward of the Cleveland Browns, and Jalen Ramsey of the Miami Dolphins.
Surtain, Alexander, and the other three cornerbacks listed above are the only players at their position making $20 million a year or more.
Is Jaire Alexander Entering a “Prove-It” Year with the Green Bay Packers?
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As mentioned previously, Alexander has dealt with some injury issues in two of the past three seasons. While he played 16 games in 2022, his combined 11 games in 2021 and 2023 do not give many fans optimism that he can stay healthy on a consistent basis.
The fact of the matter is that he needs to prove to the organization that he can stay healthy and play at an elite level, too. After the 2024 season, the Packers can save serious money on their salary cap by cutting Alexander.
He carries a cap hit of over $25 million in 2025, but a dead cap hit of $19 million. In 2026, his cap hit rises to $27 million while his dead cap hit lowers to just $10.7 million.
The more likely scenario is that Green Bay restructures his deal at some point next season, but the point remains that Alexander needs to play well in 2024 to prove that he is worthy of being the second-highest paid cornerback in the NFL.
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