Packers Rumors: Preston Smith Restructures Contract, Clears $2.4M in Salary Cap Space | News, Scores, Highlights, Stats, and Rumors

By Editor On Feb 29, 2024

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SANTA CLARA, CALIFORNIA - JANUARY 20: Preston Smith #91 of the Green Bay Packers runs around the edge during an NFC divisional round playoff football game against the San Francisco 49ers at Levi's Stadium on January 20, 2024 in Santa Clara, California. (Photo by Ryan Kang/Getty Images)

Ryan Kang/Getty Images

The Green Bay Packers and linebacker Preston Smith have agreed to a contract restructure, per ESPN’s Field Yates, who broke the news and provided the details:

Field Yates @FieldYates

The Packers and OLB Preston Smith have agreed to a restructured contract that creates $2.4M in cap space for the team in 2024. Smith’s compensation for this year is now $10M.

Mike Garafolo of NFL Network offered more insight:

Mike Garafolo @MikeGarafolo

The <a href=”https://twitter.com/hashtag/Packers?src=hash&ref_src=twsrc%5Etfw”>#Packers</a> and Preston Smith have agreed to a restructured deal, as <a href=”https://twitter.com/FieldYates?ref_src=twsrc%5Etfw”>@FieldYates</a> reported. His base salary is $10 million but there are incentives that give him the chance to earn $4 million more, which would be more than he initially was slated to earn.

Smith, a nine-year veteran, has spent his past five seasons in Green Bay after playing the first four in Washington. He finished last season with eight sacks, 21 quarterback hits and 48 tackles.

This article will be updated soon to provide more information and analysis.

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