The Green Bay Packers have found their next franchise quarterback in Jordan Love, and the front management plans to pay him accordingly this offseason.
“I think we will go down that road,” Gutekunst told reporters when asked about signing Love to a long-term contract this offseason. “Certainly, I believe it will be beneficial for our football squad to have some consistency there. Jordan and his representation are incredibly wonderful guys, so we’ll start working on that in the coming few months.”
When such conversations begin, Michael Ginnitti of Spotrac predicts that Love’s next contract may be worth $200 million over four years, or $50 million per year.
This could be the largest contract in Packers franchise history, surpassing the one given to four-time MVP Aaron Rodgers in March 2022. That transaction cost $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 stated in an email. “We estimate a four-year, $200 million agreement for the 25-year-old, with a $50 million signing bonus and $87.5 million completely guaranteed at signing. The deal includes hefty roster incentives that will vest one offseason early in 2026 ($37.5 million) and 2027 ($25 million), bringing the total realistic guarantee to $150 million. Love receives a $40 million raise this season within our scenario.”
The Packers can’t sign a Jordan Love extension until May.
Instead of exercising his rookie contract’s fifth-year option, the Packers’ front office signed Love to a one-year $13.5 million deal with up to $22.5 million in incentives in May 2023, according to Spotrac.
That decision offered the Utah State product more time to show himself — Love had only 83 career regular-season throw attempts coming into 2023 — while also providing the Packers with an exit route if he did not emerge as the franchise’s long-term quarterback solution.
Fortunately for Gutekunst and the Packers, Love’s performance in the second half of the season gave all of the clarity they required. According to Pro Football Reference, Love’s regular-season stats comprised 4,159 passing yards, a 64.2% completion rate, 32 touchdown passes, and 11 interceptions. He also rushed the ball 50 times for 247 yards and four touchdowns.
However, NFL regulations require a team to wait 12 months before completing a second extension on the same contract. That means Love and the Packers will have to wait until after May 3, 2024 to sign another agreement.
When opportunity at quarterback knocked, Jordan Love answered
The Packers headed into the 2023 season with more concerns than answers, particularly at quarterback. However, it is already evident that Love, at the age of 25, will be a key component of the franchise’s future.
“Jordan had a really good season toward the end, especially the second half,” he remarked. “And we are really excited to build around him.”
With Love at quarterback, Green Bay finished the season 9-8 overall, gaining a postseason spot as the NFC’s seventh seed. Love made history as the only first-year starting quarterback to lead the Packers to the playoffs.
In his first season as a starter, Love threw for 32 touchdown passes. This accomplishment puts him behind only Patrick Mahomes (50, 2018), Kurt Warner (41, 1999), and Daunte Culpepper (33, 2000) for the most touchdowns thrown by a first-year starter.
According to Pro Football Focus, Love finished with an 83.6 offensive grade, ranking 11th in the NFL among quarterbacks who played at least half of their team’s snaps.
Notably, Love helped lead the squad to a convincing road win against the much favored Dallas Cowboys during Wildcard Weekend before falling to the San Francisco 49ers in the Divisional Round. In short, the Packers, who were supposed to be rebuilding, are way ahead of schedule.
“He has so much more ahead of him. “As good as he has been at times this year, there is a very, very high upside,” Gutekunst stated. “I’ve always mentioned that there is normally a continuum from playing to playing well to winning. In season one, he accomplished this relatively quickly. “Very excited about where he can go.”
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