The Packers and quarterback Jordan Love have agreed to a one-year contract extension that will keep him at Green Bay through the 2024 season, a league source confirmed to The Athletic. NFL Network first reported on the move. Here’s what you need to know:
Both sides reportedly decided against the fifth-year option, instead opting for a less expensive contract extension. The contract extension is valued at up to $22.5 million, including $13.5 million fully guaranteed.
A fifth-year option would have cost $20.272 million, which would be fully guaranteed for the 2024 season.
Love is expected to be the Packers’ first quarterback in 2023 after Green Bay traded Aaron Rodgers to the New York Jets. Love, a first-round pick in the 2020 NFL Draft, has played 10 games in his three seasons with Green Bay.
The Athletic’s instant analysis:
More money for love; mitigates Green Bay cap hits
Rather than exercise Love’s fifth-year option, the Packers signed a one-year extension that keeps him signed with the team through 2024, giving him more cash up front and softening the hit to the 2024 cap that would have come with Love’s guaranteed Salary of $20.272 million. Love should have a guaranteed salary of about $2.3 million in 2023, according to Over The Cap, and now he’s getting a raise (his new deal has a guaranteed $13.5 million) before joining Green Bay full-time -Starter will. — Schneiderman
Love has yet to prove it
Love will have at least two years to prove he should be the long-term starting quarterback for the Packers.