REPORT: Packers and Jaire Alexander agree to 4-year, $84 million extension

GREEN BAY, Wis. (WBAY) - The Green Bay Packers and cornerback Jaire Alexander are said to be finalizing a four-year contract extension worth $84 million.

The news was reported Monday morning by ESPN’s Adam Schefter.

The deal averages out to $21 million per year. It includes a $30 million signing bonus, which is a record for defensive backs.

Schefter reports that Alexander will receive $42.5 million by March.

The base salary this season will be $1.076 million, which helps the Packers with the salary cap.

The Pro Bowler will be the highest paid cornerback in the league.

Packers and Pro-Bowl CB Jaire Alexander are finalizing a 4-year, $84 million contract extension, per source. Deal includes $31 million in 2022 - a DB record of $30 million in signing bonus. Alexander will receive $42.5M by March. @JohnThornton of @RocNationSports confirmed deal.
— Adam Schefter (@AdamSchefter) May 16, 2022

Alexander's previous base salary for this year was $13.29M, and all of it counted against the cap #Packers https://t.co/GkhS2nME7K
— Chris Roth (@rothchris) May 16, 2022

Alexander deal mins big cap relief for #Packers, was scheduled to count $13.29M against the cap; that number will drop significantly now
— Chris Roth (@rothchris) May 16, 2022