Jordy Nelson is a free agent.
On Tuesday, the Packers released the former second-team All-Pro wide receiver (according to the NFL Network) to clear salary-cap room. The net result is that Green Bay will replace Nelson by signing free-agent tight end Jimmy Graham (according to ESPN). Graham's contract will reportedly be for three years, but the dollar amount is still unknown.
Nelson would have carried a $12.5 million cap hit for the upcoming season, as he still had one-year left on the four-year, $39 million deal he signed with Green Bay prior to the 2015 season.
The question now is: what's the market like for a 32 year-old, oft-injured receiver who has seen a dramatic reduction in catches, receiving yards and touchdowns this past season?
The easy answer is that it's probably not great. Which means the Nelson's price tag on the open market could come down. Even with his declining health and production, some team could offer him big money.
Realistically, the best Nelson could hope for is a two, maybe three-year contract. As the projected cap hit? It could come in somewhere around $5 million per year.
It's unlikely the Cowboys would be able to or perhaps want to sign Aaron Rodgers' favorite' target and line him up alongside Dez Bryant. But if the situation between Bryant and the organization (see: Jerry and Stephen Jones) deteriorates, Nelson might be worth a look, assuming another team doesn't snatch him up first.
