Not sure there's any scenario that leaves the Packers with a decent amount of cap space and I'd be hesitant to trust a rookie receiver to help out a first year starting QB. Maybe it comes to pass, but if so then Love is going to have to have the best 1st-year starting season of a QB in recent NFL history to look good.
Oh there would be space. Trading Rodgers has an estimated savings of 19M or so.
Cut Z - $15M
Cut Turner - just shy of $5M
Cut Cobb - $2.78M
Cut Crosby - $2.34M turn that page at same time
Cut or rework Lowry - around $3-$4M
Extend Jaire - $7M-$10M depending how you structure it
Cut or extend Preston- $7M or less if extended
You are at $12M+ in the good now to the cap already...
With options to save
trade/cut/extend Amos due to hit us for basically $12M
Big Dog cut saves $1.5M and if restarting with Love may as well
Kenny Clark due $20M - could extend him if he is part of your future plans lessoning hit now somewhat. A restructured conversion of base salary to minimum would save $4.5M
If going to Love you could easily get to around $14-$20M in the good.
Few WRs from last year signed in free agency and per year hit avv
AJ Green $6M
Emmanuel Sanders $6M
Sammy Watkins $5M
John Brown $3.75M
Desean Jackson $2M
TY Hilton $8M
Will Fuller $10.625M
Few guys many say will be in range below $10M/Year this year:
JuJu Smith-Schuster $8M
Will Fuller $10M
Jamison Crowder $4.5M
MVS $8M
Sammy Watkins $6M
Keelan Cole $2M