I know this has been pointed out before, but I still think it is the biggest factor in the discussion. Dumping one starter, especially one that has been in Green Bay their whole career, comes with some risk. We aren't talking about 3 guys who absolutely suck or this would be a no brainer. Nor are we talking about positions where we have cheaper, equally better players on the current roster.
I think most everyone agrees that Cobb, Matthews and Nelson are currently being overpaid and that restructuring and keeping them under a cheaper contract seems to be an acceptable solution by most.
So, if they aren't willing to restructure, the Packers decision is to keep, cut or trade (good luck with the 3rd).
If the Packers do decide to get rid of any of them, is that players replacement currently on the team? I would say no in the case of all 3 and that gets even trickier if they cut both Cobb and Jordy. So who do you replace them with and how much will that cost and at the end of all this how much do you save? Do we end up with a better player or a worse player? The Packers pretty much know what they have in these 3 players, so bringing a FA in is a bigger gamble IMO. We saw what happened when the Packers let Cook walk and sign Mo Bennett.
No matter what the decision is, I just hope the Packers keep their investments in all 3 players and not release any of them, until they are 100% certain they have an adequate replacement.