The most likely candidates for a straight release include: Preston Smith ($8 million in cap savings/$12 million if post-June 1), Dean Lowry ($3.3 million/$4.8 million), Rick Wagner ($4.25 million), Christian Kirksey ($6 million), Adrian Amos ($4.3 million/$7.3 million) and perhaps even Mason Crosby ($2.5 million/$3.5 million). Up to two players can be cut before June 1 and still receive the post-June 1 cap benefit.
The most likely candidates for restructuring include Za'Darius Smith, who is due a $5 million roster bonus in March that could be spread out if converted to a signing bonus; and Aaron Rodgers, who is due a $6.8 million March bonus.
Then there's the question of Rodgers' status altogether. The cap savings from moving on would amount to $4.796 million (or $22 million post June-1). But there's little or no reason to think rookie Jordan Love will be ready to take over next season.
There are other options as well, including legitimate contract extensions to help spread out cap charges over the length of deals with someone like Davante Adams, who has a $16.6 million cap charge in 2021 (the final year of his deal), trades, pay cuts and even converting base salaries into bonuses that can be prorated over multiple years.