A little over a year after moving on from Aaron Rodgers, the Packers have secured one of the league’s highest-paid quarterbacks, Jordan Love. Green Bay has signed Love to a four-year, $220 million contract extension, which ties him for the highest-paid player in NFL history, as reported by NFL Network Insider Ian Rapoport on Friday. The deal includes a record-setting $75 million signing bonus, according to Rapoport. The team announced the extension on Saturday.
Love’s new contract, negotiated by David Mulugheta and Andrew Kessler of Athletes First, averages $55 million per year, putting him on par with Jacksonville’s Trevor Lawrence and Cincinnati’s Joe Burrow as the top earners in the quarterback market.
With this agreement, Love, who had opted out of training camp practices until his contract was finalized, can now return to working with his teammates on the field.
This deal comes a year after the Packers and Love reached a temporary agreement before his first season as a starter. At that time, Love opted for a smaller contract, betting on himself and ultimately reaping significant rewards.
In 2023, despite having only one previous start and being eligible for a fifth-year rookie option, Green Bay passed on the $20.72 million option and instead extended Love on a one-year deal. This deal included $13.5 million guaranteed and the opportunity to earn up to $9 million more in 2024 through incentives.
Love excelled in his first season as a starter, finishing second in the NFL with 32 touchdown passes, seventh in passing yards with 4,159, and eleventh in passer rating with 96.1. He led Green Bay, the youngest team in the league, to the playoffs, where he delivered a near-perfect performance in a wild-card victory over the Cowboys. His impressive play earned him an additional $5 million to his 2024 base salary.
The Packers’ decision to extend Love with a long-term, high-value contract signifies a significant commitment to their future with him at quarterback, ending the recent uncertainty surrounding the position.
This outcome was not always assured, as Love struggled early in the previous season with 2,009 passing yards, 14 touchdowns, 10 interceptions, an 80.5 passer rating, and a 58.7 completion percentage. The Packers were 3-6 at that point, lacking offensive consistency.
However, Love’s performance improved dramatically in the latter part of the season. He completed 70.3% of his passes with a 112.7 passer rating over the final eight games, amassing 2,150 yards and an 18:1 touchdown-to-interception ratio while leading Green Bay to a 6-2 finish and a playoff berth.
In the playoffs, Love’s performance against Dallas was exceptional, completing 16 of 21 passes for 272 yards, three touchdowns, and a 157.2 passer rating. Despite a less impressive showing in the subsequent Divisional Round loss to the 49ers, where he threw for 192 yards and had a couple of interceptions, the Packers view this as a learning experience for Love.
With his future secured, Love will lead a young, talented offense in 2024 under the guidance of coach Matt LaFleur. If he continues to meet expectations, the Packers have now extended their third consecutive franchise quarterback for the long term.