Green Bay Packers quarterback Jordan Love has finalized a four-year contract extension valued at $220 million, according to a source close to the situation who disclosed the information on Friday.
This new contract features a signing bonus of $75 million along with $155 million in fresh guarantees.
The agreement follows Love’s impressive performance last season, where he guided the NFL’s youngest team to a 10-9 record and a playoff appearance during his first year as a starting quarterback, successfully stepping into the shoes of four-time MVP Aaron Rodgers, who was traded to the New York Jets in April 2023.
The NFL Network was the first to report on Love’s contract, while ESPN provided details on the signing bonus and guaranteed amounts.
News about Love’s extension coincided with Miami’s Tua Tagovailoa securing a four-year extension worth $212.4 million. Additionally, Detroit’s Jared Goff signed a four-year extension for $212 million with $170 million guaranteed, and Jacksonville’s Trevor Lawrence reached a five-year, $275 million extension with $142 million guaranteed earlier this offseason.
With this extension, Love joins Trevor Lawrence and Joe Burrow in earning the highest average salary ($55 million) in NFL history. However, in light of the recent surge in the NFL’s salary cap, Love’s contract takes up a smaller percentage (21.5%) of the cap compared to Burrow’s extension, which accounted for 25% under the previous cap structure, according to Spotrac.
The 25-year-old Love had not participated in training camp practices this week as the contract negotiations were ongoing, though he attended workouts and participated in all other team responsibilities. His previous contract was set to expire at the end of the upcoming season.
“We’re clearly committed to him as our franchise quarterback and are eager to proceed,” general manager Brian Gutekunst stated on Monday regarding the ongoing negotiations. “We are not in a position where we’re making any decisions about his future just yet. Nonetheless, it is crucial for us to provide the best team possible around him, and we need to structure things to ensure we can sustain this for the future.”
The Packers are placing their faith in the potential Love displayed during his impressive late-season run last year.
Prior to this, Green Bay had granted Love a one-year extension in May 2023, which entailed $13.5 million in guaranteed money plus an additional $9 million in incentives. This arrangement allowed the Packers to assess Love as he transitioned into his first season as a starter following Rodgers’ departure.
Love rose to the occasion, completing 64.2% of his passes for 4,159 yards, accumulating 32 touchdowns and 11 interceptions while exhibiting significant improvement as the season progressed. He threw an impressive 21 touchdown passes with just one interception over a nine-game span, culminating in a 48-32 upset victory over the Dallas Cowboys in a wildcard playoff match. However, in the following week, he threw two interceptions in the second half during a 24-21 defeat to the San Francisco 49ers.
Only two other quarterbacks, Kurt Warner in 1999 and Patrick Mahomes in 2018, have thrown for over 4,000 yards and 32 touchdowns during their first year of multiple starts. Among quarterbacks with similar starts, Mahomes (50), Warner (41), and Daunte Culpepper (33 in 2000) outperform Love’s tally of 32 touchdown passes.
Love’s 32 touchdown passes positioned him second in the league, trailing only Dallas’ Dak Prescott, who had 36.
Previously, Love had made just one career start before the last season after the Packers traded up to draft him out of Utah State with the 26th overall pick in the 2020 draft, where he spent his initial three seasons serving as a backup to Rodgers.
