The former Louisville standout agreed to a four-year, $84 million extension that will keep him in Green Bay until 2026.
Alexander will also get a $30 million signing bonus as part of that deal.
While the yearly breakdown of his new contract is not yet available, his annual average value makes him the highest-paid cornerback in the league.
Highest paid cornerbacks on an average per-year basis:
—> Jaire Alexander: $21M
– Denzel Ward: $20.1M
– Jalen Ramsey: $20M
– Marlon Humphrey: $19.5M
– Marshon Lattimore: $19.4M
— Ari Meirov (@MySportsUpdate) May 16, 2022
Pro Football Focus writer Ari Meirov tweeted the top five cornerbacks on a per-year basis.
Alexander’s $21 million edges Cleveland Browns defensive back Denzel Ward by around $900,000.
Ward signed a five-year, $100.5 million deal earlier this offseason.
Meanwhile, the Los Angeles Rams’ All-Pro cornerback Jalen Ramsey is at third with $20 million.
Marlon Humphrey of the Baltimore Ravens is at number four with $19.5 million.
Rounding up the list is the New Orleans Saints’ Marshon Lattimore at $19.4 million.
Last season, Alexander finished with nine solo tackles, three passes defended, and an interception.
But he’s proven to be one of the best at his position when he’s healthy.
Packers Building Their Defense
In 2020, Alexander had 51 tackles, 13 passes defended, one sack, one interception, and a forced fumble.
Aside from extending Alexander, the Packers also used the draft to bolster their defense.
They drafted both Quay Walker and Devonte Wyatt in the first round of the 2022 draft.
The pick they used on Walker was the one they received from the Las Vegas Raiders in the Davante Adams trade.
Meanwhile, Alexander will be the anchor of the secondary, lining up opposite Eric Stokes.