Josh Jacobs’ move to the Commissioner’s Exempt List immediately changed the Green Bay Packers’ backfield and MarShawn Lloyd’s fantasy football value. It just shouldn’t change Lloyd’s value enough that fantasy managers start drafting him as a top-25 running back.
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Jacobs cannot practice or play while he remains on the exempt list, and there is no set timetable for his return, though Packers general manager Brian Gutekunst said Sept. 1 that he expects Jacobs to play at some point in 2026. That leaves Lloyd with the first opportunity to lead Green Bay’s backfield, but there’s a big difference between being first in line and taking over the workload Jacobs left behind.
Lloyd has played one regular-season game in two years.
That’s not much of an NFL résumé to project into a starting fantasy role, particularly when availability has been the problem throughout his career. Lloyd has at least been healthy this summer and worked with Green Bay’s first-team offense while Jacobs dealt with a groin injury.
The Packers also didn’t respond to the Jacobs news by simply handing Lloyd the backfield.
Green Bay acquired Kaleb Johnson from Pittsburgh on Sunday, the same day Jacobs was placed on the exempt list. Johnson was the No. 83 overall pick in the 2025 NFL Draft, one year after Green Bay selected Lloyd at No. 88 overall.
Johnson didn’t give Pittsburgh much reason to keep him. He managed 69 yards on 28 carries as a rookie and played only about 50 offensive snaps. Still, Green Bay adding another young back with similar draft investment makes it harder to assume Lloyd is about to handle something close to Jacobs’ old role.
Chris Brooks remains part of the backfield as well and gives the Packers a trusted pass protector. There’s also nothing preventing Green Bay from adding another veteran if the coaches decide they need one.
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Lloyd should absolutely be drafted now. He has a path to early-season touches in an offense that has supported plenty of running back production, and Jacobs’ absence gives Lloyd an opportunity he didn’t have a week ago.
I’m just not drafting him as one of my starters.
If 35 running backs are already gone and Lloyd is still available, that’s a reasonable place to take the shot. At that cost, you aren’t depending on him. You can see how Matt LaFleur divides the work between Lloyd, Johnson and Brooks and adjust from there.
Pushing Lloyd into the RB20 range requires considerably more faith. You’d be betting that Green Bay gives him most of Jacobs’ workload, that Johnson doesn’t earn a meaningful share and that Lloyd stays healthy while handling more NFL work than he ever has before.
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Maybe he checks all three boxes. We haven’t seen enough from Lloyd to draft as though he already has.
Jacobs is different. His uncertain timetable makes him impossible to count on, but he belongs on fantasy rosters if his price falls into the very late rounds. The NFL’s decision to place him on the exempt list is administrative rather than a final disciplinary ruling.
For now, Lloyd is the Green Bay back I’d rather draft. I’d just draft him as bench depth with a chance to become useful, not as the replacement for Jacobs that fantasy managers can immediately plug into their starting lineup.
