The Green Bay Packers found their next franchise quarterback in Jordan Love, and the front office intends to pay him like one this offseason.
“I think we will go down that road,” Gutekunst told reporters when asked about signing Love to a long-term deal this offseason. “Certainly, I think that’ll be important for our football team to have some stability there. Jordan and his representation, they’re really good people, so we will start working towards that sometime in the next couple months.”
When it comes time to begin those discussions, Michael Ginnitti of Spotrac estimates that Love’s impending contract could amount to $200 million over four years, averaging $50 million annually.
This potential deal would surpass the richest contract in Packers franchise history, which was given to four-time MVP Aaron Rodgers in March 2022. That deal totaled $150.8 million over three years.
“Love more than outplayed his bridge extension in 2023, making it unrealistic that he would play out the 2024 campaign on a 1 year, $11M contract,” Ginnitti wrote. “We’ve projected a 4 year, $200M extension for the 25 year old, including a $50M signing bonus, & $87.5M fully guaranteed at signing. The deal contains large roster bonuses that vest 1 offseason early for 2026 ($37.5M) & 2027 ($25M) raising the practical guarantee on this deal up to $150M. Love secures a $40M raise this season within this projection.”
The Packers Can’t Sign a Jordan Love Extension Until May
In May 2023, the Packers front office inked Love to a one-year $13.5 million deal worth up to $22.5 million in incentives, according to Spotrac, instead of exercising the fifth-year option in his rookie contract.
That move gave the Utah State product time to prove himself, considering Love only had 83 career regular-season pass attempts heading into 2023 — while providing the Packers with an exit strategy in case he didn’t emerge as the franchise’s long-term quarterback solution.
Thankfully for Gutekunst and the Packers, Love provided all the clarity they needed with his performance in the latter half of the year. Love’s regular season stats included 4,159 passing yards, a completion rate of 64.2%, and 32 touchdown passes alongside 11 interceptions, per Pro Football Reference. He also ran the ball 50 times for 247 yards and four scores.
However, NFL regulations dictate that a team must wait 12 months before executing a second extension on the same contract. That means Love and the Packers can’t put pen to paper on another extension until after May 3, 2024.
When Opportunity at QB Knocked, Jordan Love Answered
The Packers entered the 2023 season with more questions than answers, especially at quarterback. But now, it’s clear that Love, at just 25 years old, will be a foundational piece for the franchise moving forward.
“Jordan had a really good season toward the end, especially the second half,” Gutekunst said. “And we are really excited to build around him.”
With Love under center, Green Bay concluded the season with a 9-8 overall record, securing a playoff spot as the NFC’s seventh seed. In doing so, Love etched his name in the annals of Packers history as the only first-year starting QB to guide the franchise to the postseason.
In his debut season as a starter, Love threw for an impressive 32 touchdown passes. This achievement places him behind only Patrick Mahomes (50, 2018), Kurt Warner (41, 1999), and Daunte Culpepper (33, 2000) for the most touchdowns ever thrown by a first-year starter.
According to Pro Football Focus, Love finished with an 83.6 offensive grade, the 11th-best in the NFL among quarterbacks who played at least 50% of their team’s snaps.
Notably, Love helped lead the team to a convincing victory on the road against the heavily favored Dallas Cowboys during Wildcard Weekend before losing to the San Francisco 49ers in the Divisional Round. In short, the Packers, initially slated for a rebuild, are well ahead of schedule.
“He’s got so much more in front of him. As good as he played at times this year, there’s a very, very high upside,” Gutekunst said. “I’ve always talked about how there’s usually a progression there where you go from playing, to playing well, to winning. He did that in pretty short order in season one. Very excited where he can go.”
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