Report: Packers, Alexander finalizing 4-year, $84M extension

The Green Bay Packers and cornerback Jaire Alexander are closing in on a four-year, $84-million extension, a source told ESPN's Adam Schefter.

Alexander's average value of $21 million per year sets a new cornerback record, Schefter adds. The figure surpasses Cleveland Browns cornerback Denzel Ward, who signed a five-year, $100.5-million deal in April.

The Packers cornerback will receive $31 million in the first year of the pact, with $30 million coming as a signing bonus. Alexander takes in a base salary of just $1.076 million in 2022 in order to get his cap hit as low as possible, Schefter notes.

The 25-year-old emerged as one of the league's rising cornerback stars during a breakout 2020 campaign. However, his 2021 campaign was limited to just four games due to injury. Alexander was sidelined from Week 5 to the end of the regular season but managed to return for the Packers' lone postseason game, though he played just eight defensive snaps.

A first-round pick in 2018, Alexander has recorded at least one interception in each of his four seasons. He's earned one Pro Bowl invite and has tallied five career picks.