Acme Packing Company
Both will probably be signed to deals in the ballpark of $15 million per year, based on the current market
On Monday, Green Bay Packers general manager Brian Gutekunst dropped a bombshell: The team is planning on keeping linebacker Quay Walker and defensive tackle Devonte Wyatt, the team’s 2021 first-round picks, through at least the 2026 season — be it by picking up their fifth-year options or via an extension. If you’re wondering how fast the Packers will have to move on these deals, the deadline to accept these options is on May 1st, a week after the draft kicks off.
So, conversations will need to be quick if Gutekunst wants to avoid picking up these one-year deals.
At the moment, the option numbers for these players are $14.8 million for Walker and $13.9 million for Wyatt, according to Over the Cap. As a reminder, these figures would be fully guaranteed. For perspective, Packers cornerback Nate Hobbs, who signed a four-year, $48 million deal this offseason as a free agent, only received $16 million guaranteed — all in the form of a signing bonus — on his new contract. The guaranteed money, along with rising player compensation markets, highly incentivizes Green Bay to push for long-term extensions, if their fallback plan is picking up the option.
So what would long-term deals for Walker and Wyatt look like? I’m glad you asked. Let’s get into it.
One thing that is happening around the NFL right now is that non-Pro Bowl starters are seeing the vast majority of the pay compensation increases from the $20-$25 million year-to-year increase in the salary cap. Because teams can afford to pay their stars, their stars are getting paid without issue, leading to few hitting free agency and resetting the market at typical rates.
So fewer stars are on the market...despite teams having this cap space on hand. That has lead to the rapid increase in mid-level starters, particularly ones coming off of rookie deals.
Keisean Nixon is a great example of this. When Nixon signed his extension with the Packers, which was primarily priced as him being a high-end slot cornerback, he inked a $6 million per-year deal in 2024.
Now, slot cornerbacks are regularly going for $10 million to $13 million. Yes, the market has doubled. So, while the projections that Walker and Wyatt would receive would have been almost unfathomable for non-Pro Bowl players a few years ago, this is simply where the NFL finds itself. Again, remember, the Packers’ baseline thinking is that they would keep Walker and Wyatt on one-year deals at the cost of $14.8 million and $13.9 million, respectively. Please try to keep your jaw off of the floor.
Two players who are comparable to Walker in talent level and are relevant to the modern off-ball linebacker market are Nick Bolton, who re-signed with the Kansas City Chiefs this offseason, and Jamien Sherwood, who re-signed with the New York Jets this...
