Source - Green Bay Packers sign pass-rusher Preston Smith to 4-year, $52.5 million extension

GREEN BAY, Wis. — Preston Smith helped extend his career with the Green Bay Packers, and the team picked up much needed salary-cap space when they came to an agreement on a new contract Monday.

Smith, who had one year and $12.5 million left on his existing deal, signed a four-year, $52.5 million extension, a source told ESPN. Smith will make $25 million over the next two seasons with the chance to earn $31 million with incentives. The entire deal could earn Smith up to $71 million over five seasons should he reach all of the incentives.

Smith was scheduled to count $19.5 million on this year's cap. The Packers were $45.5 million over their salary cap before Smith's deal, which is expected to lower his cap charge by about $8-9 million. Quarterback Aaron Rodgers' contract extension, when it's done, also will lower the Packers' cap number.

They must be under the cap by 4 p.m. ET Wednesday, when the 2022 league year begins.

Smith teamed with Rashan Gary to form a strong pass-rushing duo last season while Za'Darius Smith missed most of the year because of a back injury. Preston Smith took a pay cut last offseason following a substandard 2021 season but bounced back with nine sacks.

In seven seasons, Smith has 49.5 sacks and has missed only one game. He originally signed a four-year, $52 million deal with the Packers in 2019.

It also means Za'Darius Smith's time with the Packers is likely over. A source said earlier this offseason that Za'Darius Smith expected to be released. That would save the Packers $15.75 million in salary-cap space.

Also currently on the Packers' cap is receiver Davante Adams' $20.145 million franchise tag. Neither the Packers nor Adams want him to play under the tag this season. It would provide Adams