Packers insider floats possible Trey Hendrickson trade after Jaire Alexander's release frees $46,000,000 in total cap space

On June 9, NFL Network insider Ian Rapoport revealed the major news that the Green Bay Packers were releasing star defensive player Jaire Alexander.

Ian Rapoport

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The #Packers are releasing star CB Jaire Alexander today, sources say.

Although the news is shocking and there are now questions as to where Alexander's next home in the National Football League will be, some NFL analysts have started wondering whether the Packers had a plan in releasing the star cornerback Alexander.

NFL analyst for 'The Athletic' Matt Schneidman took to X to share how the Packers now have major cap room, the third most in the NFL to be exact, after the release of Alexander.

"According to Over The Cap, releasing Jaire Alexander frees up about $17.1 million in cap space for the Packers. They now have more than $46 million in cap space, the third-most in the NFL." Schneidman wrote.

Replying to himself a few hours later, Schneidman released a photo of NFL superstar Trey Hendrickson, a player who is looking for a major contract extension from the Cincinnati Bengals.

Despite being under contract with the Bengals for another year, Hendrickson is looking for a new deal from Cincinnati this offseason. However, until this point, the Bengals and Hendrickson have not been able to settle on a new contract, something that has led the player to outline how he will hold out this year without a new contract.

As a result, many fans and analysts have started speculating that Hendrickson may have already played his final snap for the Cincinnati Bengals.

Can the Green Bay Packers afford Trey Hendrickson's new contract?

With the release of Alexander, the Packers do in theory have enough cap space to sign Hendrickson long-term. Although the deal would be complex and would likely need to be a trade and sign, the move could take Green Bay to the next level on the defensive side of the ball.

Green Bay had one of the best defenses in the NFL last year, averaging only 19.9 points against per game (6th in the NFL). However, the addition of Hendrickson would unquestionably improve the already talented unit. Hendrickson led the NFL in sacks in 2024 with 17.5, and has averaged 14.1 sacks per season over his past five campaigns.

The Packers have a top head coach in Matt LaFleur, one of the best offenses in the NFL that features stars in Jordan Love, Josh Jacobs, Jayden Reed, and Matthew Golden. With the addition of Hendrickson, Green Bay would likely have one of the best defenses in the league as well, something that could push the Packers into legitimate Super Bowl contention in 2025.