For Packers, It Was $132 Million Up In Flames

The Green Bay Packers spent a considerable amount of money in free agency just to go from 11 wins to nine.

Green Bay Packers cornerback Nate Hobbs started a career-low five games in 2025. | Mark J. Rebilas-Imagn Images

GREEN BAY, Wis. –  Last offseason, Green Bay Packers general manager Brian Gutekunst spent $131.54 million in free agency. Only 10 teams spent more money on outside free agents, according to Spotrac.

“You get what you pay for,” or so the saying goes. For the Packers, all they got was regret. Instead of players who’d bring fire to a talented roster, the money was set on fire. They went from 11-6 last year to 9-7-1 this year.

The lion’s share of the money, of course, was spent on left guard Aaron Banks and cornerback Nate Hobbs, who signed four-year contracts worth $77 million and $48 million, respectively.

Banks’ contract averaged $19.25 million per season, making him the seventh-highest paid guard in the NFL.

“Obviously, a really large man that can do all the things that Matt asks those guys to do in our scheme as far as our ability to get off the ball quickly, get out in space and really run,” Gutekunst said at the owners meetings last year.

“Again, this isn’t a 295-pound man. This is a 330-pound man. His ability to play physical in the run game and anchor down in the pass pro is something where he’s played at a high level for a few years now, and to get a guy like that really in the prime of his career is something I thought would really benefit us.”

Hobbs’ contract averaged $12 million per season, making him 24th at the position.

“We just really thought he’s a really versatile all-around corner, can do everything,” Gutekunst said. “We really like his ability to play on the outside, which he hasn’t done a ton of, but the ability to move him inside and match different receivers, and his play style I think is one of the things that really stood out to all of us. Really, really excited to see what he’s going to do for us this year.”

They should have been difference-makers on a high-quality roster. Instead, what seemed like risky business at the time – our free-agent grades of Banks and Hobbs said as much – turned out to be all risk and no reward.

Great Expectations for Banks, Hobbs

The Packers, who generally have made smart decisions in free agency under Gutekunst, paid great-player money to players who weren’t great and continued to not be great. They signed players with injury histories who dealt with injuries again.

Banks started 14 games (one exception was Week 18 at Minnesota). It’s certainly not all because of him, but the Packers went from ranking sixth in yards per carry (4.75) and third in sack percentage (4.59) in 2024 to 24th in yards per carry (4.14) and 12th in sack percentage (5.93) in 2025.

Hobbs, who was sidelined by knee injuries at the start of the season, middle of the season and end of the season, played in 11 games with five starts. After intercepting three passes with 21 passes defensed in four seasons with the Raiders, he once again was not a playmaker on the ball with zero interceptions and two passes defensed in 2025. Moreover, a player’s greatest ability is availability. Hobbs the last four seasons has missed 22 games.

Huge financial decisions are looming for both players, with Banks and Hobbs due hefty roster bonuses on the third day of the league-year. Banks’ $9.5 bonus is part of a salary-cap charge of almost $24.8 million, which ranks fifth among guards. Hobbs is due a $6.25 million roster bonus, part of a salary-cap charge of $12.8 million that ranks 23rd among cornerbacks.

Including Banks and Hobbs, the Packers signed seven outside free agents. The other five were trivial in terms of money spent on one-year contracts. Along with swing-for-the-fences signings of linebacker Isaiah Simmons and receiver Mecole Hardman, the Packers brought back tight end John FitzPatrick and linebacker Kristian Welch and added defensive lineman Cameron Young.

Of the five, only FitzPatrick made the 53-man roster, though Welch wound up playing in eight games.

Super Bowl Teams Spent Wisely

The Super Bowl teams opened the vault and were rewarded for it.

The Patriots spent $364.4 million on 19 players. That was almost $100 million more than any other team as they took full advantage of life with a quarterback on his rookie contract. Defensive tackle Milton Williams, receiver Stefon Diggs, cornerback Carlton Davis, edge Harold Landry, linebacker Robert Spillane and right tackle Morgan Moses all paid off handsomely.

The Seahawks were fourth with $205.6 million on 16 players. Quarterback Sam Darnold, who received a three-year, $100.5 million contract after leading the Vikings to a 14-3 record in 2024, has the Seahawks back in the Super Bowl for the first time since their infamous victory over the Packers in the 2014 NFC Championship Game.

The Bears were ninth with $150.5 million on 15 players. The top two, defensive end Dayo Odeyingbo and defensive tackle Grady Jarrett, didn’t pay off, but they spent less money on center Drew Dalman, who was picked for the Pro Bowl, than the Packers spent on Banks.

However, the Vikings were second with $269.5 million, the Giants were third with $215.2 million on 20 players and the Titans were fifth with $163.6 million on 26 players. None of those teams reached the playoffs. 

Added together, Green Bay’s seven additions played 1,439 snaps from scrimmage. Seattle’s big three additions, Darnold, receiver Cooper Kupp and defensive lineman DeMarcus Lawrence, played 2,420.

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