Jordy's (close to) done. He'll be a 33 year old WR, coming off an atrocious season. Even if you project his numbers with Rodgers under center to a whole season, you'd only get to 800 yards on 70 catches. That'd make for an 11.4 average.
I feel like the balls he's getting are mostly because of the familiarity between him and Rodgers. WRs tend to drop off dramatically after 32. From Brandon Marshall to Torry Holt to Isaac Bruce to Donald Driver to Greg Jennings to Randy Moss... There are quite some examples. Only real freaks of nature like Larry Fitzgerald and Terrell Owens manage to produce WR1 numbers while approaching 35.
Add to that that he just didn't look like he was getting a lot of seperation.
I don't think he's completely done and I see how he could be serviceable for another year. Maybe two. But there's no way he's worth the $12.5 million cap hit. Save yourself those $10 million.
That gives you enough cap space to take a look at a guy like Allen Robinson or Sammy Watkins. Both could be picked up for discount prices because of injuries and underperforming.
Keep Cobb around for that last year to smoothen the transition. Cobb is overrated, but if you manage to get Adams paired up with Watkins or Robinson on the outside, Cobb should be able to do some thing out of the slot.
I don't really care about Matthews staying or going. On one side, he's not worth the pricetag anymore. On the other side, if you cut him, you'll have to find a replacement and you'll probably overpay on a one year deal in free agency. Might as well keep him.
I'm not a fan of a restructuring, though. There's no way he'll accept a contract that pays him the same over 3 years as he's getting over 1 now, so you'll be stuck with a declining player who's eating up $5-6 million of cap space for the next three years, rather than getting it over with and eating the $11.4 million now he's still somewhat of a factor when rushing the passer.
I'd keep Bulaga. I thought his cap hit was $7.9 million, rather than $8.35. Either way, you save about $5 million. When you factor in the state of our o-line right now, the cap space we have and level of play Bulaga shows when he is healthy, I wouldn't cut him. If he gets injured again or just doens't play up to his contract, we can always cut him next year. That'll save us nearly $7 million.