It appears increasingly unlikely that Jaire Alexander will play for the Green Bay Packers again. The team is seeking compensation in return. Despite the challenges, there is interest in the former All-Pro cornerback, and as reported by Tom Silverstein of the Milwaukee Journal Sentinel, the Packers have received inquiries about him.

“According to two league sources familiar with Alexander’s situation, the Packers have received trade interest and are determined to secure a deal rather than release him,” Silverstein noted. If a trade doesn’t materialize, general manager Brian Gutekunst is expected to eventually let Alexander go. Silverstein suggests a post-draft trade is more likely, as teams that haven’t filled their cornerback needs might be more inclined to make an offer.

The Packers’ strategy is sound. Although $17.5 million is a hefty sum and they are prepared to part ways with the cornerback, obtaining some value for him based on his previous performance remains a sensible option. “We’ve invested significantly in Jaire, and we want to ensure that if he’s not contributing to our team, we get a return on that investment,” Gutekunst stated. “We’ll see how it unfolds.”

Ideally, the Packers would prefer a resolution before the draft, but it’s not imperative. Alexander’s contract doesn’t have any pressing deadlines, allowing Green Bay to retain him until Week 1 without any financial commitments. He has two years left on his contract, with earnings of $17.5 million in 2025 and $19.5 million in 2026.

Waiting has its advantages. Trading Jaire before June 1 would incur $17.043 million in dead money, freeing up $7.593 million in cap space. However, completing the trade after June 1 would increase 2025 cap savings to $17.117 million, as dead money would be divided—$7.518 million in 2025 and $9.525 million in 2026.

The primary issue for the Packers with Jaire Alexander is his availability. He has missed 34 of the last 68 games over four seasons, and his health concerns coupled with his salary make retaining him challenging for Green Bay, particularly with their cap space constraints looming next offseason.

This challenge also impacts potential suitors, complicating the situation further. Alexander is unwilling to take a salary reduction, so if no team is prepared to absorb his full contract, the Packers may have to release him, allowing the cornerback to choose a new team and negotiate a fresh contract.

Recently, the Miami Dolphins also placed cornerback Jalen Ramsey on the trade block, possibly influencing the veteran cornerback market and the Packers’ plans with Alexander.

For now, Gutekunst is in a holding pattern. However, a trade seems more probable than releasing him at this stage.