Green Bay Packers quarterback Jordan Love has finalized a four-year contract extension valued at $220 million, according to a source close to the deal reported on Friday. This new agreement includes a $75 million signing bonus and $155 million in guaranteed funds.
This extension follows Love’s successful first year as a starter, during which he led the NFL’s youngest team to a 10-9 record and a playoff appearance. His performance came as he took over from four-time MVP Aaron Rodgers, who was traded to the New York Jets in April 2023.
NFL Network was the first to report the terms of Love’s contract, while ESPN disclosed the figures for the signing bonus and guarantees.
The announcement coincides with other significant quarterback contract extensions: Miami’s Tua Tagovailoa agreed to a four-year, $212.4 million extension, Detroit’s Jared Goff signed a four-year deal worth $212 million with $170 million guaranteed, and Jacksonville’s Trevor Lawrence secured a five-year, $275 million extension with $142 million guaranteed earlier this offseason.
Love’s new deal places him alongside Lawrence and Joe Burrow with the highest average annual salary in NFL history at $55 million. However, due to the recent increase in the NFL salary cap, Love’s contract represents a smaller percentage of the cap (21.5%) compared to Burrow’s deal (25%) signed under the previous cap structure, according to Spotrac.
Despite not practicing with the team during training camp as contract negotiations were ongoing, Love attended workouts and participated in other team activities. His previous contract was set to expire at the end of this season.
“We’re certainly confident he’s our franchise quarterback and ready to move forward,” Packers General Manager Brian Gutekunst said. “Our goal is to build the best team around him and ensure that we can support him both this year and in the years to come.”
The Packers are betting on Love’s potential, which he showcased during a strong finish to last season. Earlier in May 2023, Green Bay had signed Love to a one-year extension worth $13.5 million guaranteed, plus up to $9 million in incentives, to evaluate his performance as he transitioned into the starting role.
In his first season as a starter, Love completed 64.2% of his passes for 4,159 yards, 32 touchdowns, and 11 interceptions. His performance improved notably over the season, highlighted by a nine-game stretch where he threw 21 touchdown passes with just one interception, including a playoff win against the Dallas Cowboys. He did, however, face challenges in the subsequent playoff game, throwing two interceptions in a loss to the San Francisco 49ers.
Love’s 32 touchdown passes in his debut season are among the highest for quarterbacks with multiple starts, ranking only behind Patrick Mahomes (50) and Kurt Warner (41). His performance was notable for its historic context, with few quarterbacks achieving similar success in their initial seasons.
Having made just one career start before last season, Love was drafted by the Packers in 2020 with the 26th overall pick from Utah State and spent his first three seasons as a backup to Rodgers.