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NFL insider reveals Jordan Love contract extension details

The Green Bay Packers took the unusual step of signing quarterback Jordan Love to a contract extension rather than exercising his fifth-year team option. While a true assessment of the decision can’t be made until Love proves himself as a starting quarterback, the deal looks favorable for both sides.

Because Love was a first-round pick in the 2020 NFL Draft, Green Bay held a fifth-year option on him for the 2024 season. If the franchise exercised the added year to his rookie contract, Love would’ve been owed $20.3 million fully guaranteed next year,

  • Jordan Love stats (NFL): 79.7 QB rating, 3-3 TD-INT, 60.2% completion rate, 7.3 ypa

Related: Green Bay Packers draft picks 2024

However, despite repeated reports about the Packers’ confidence in Love, the front office wasn’t fully committed to guaranteeing the fifth year of Love’s contract. While he’s poised to be the starting quarterback this year, the 24-year-old has attempted just 83 passes in three seasons.

As a result, Green Bay signed Love to a one-year extension. It allowed the franchise to commit to him for the 2024 season without guaranteeing $20 million. In exchange for taking less fully-guaranteed money in 2024, Love received a signing bonus this offseason and can earn even more money if he reaches incentives in his new contract.

Now, thanks to Albert Breer of Sports Illustrated, we know the contract details Love and the Packers agreed to this week.

Jordan Love contract details

  • Signing Bonus: $8.788 million
  • 2023 base salary: $1.01 million (GTD)
  • 2024 base salary: $5.5 million (GTD)
  • 2024 workout bonus: $500K
  • 2024 escalators: $9 million maximum
  • Total Guarantees: $15 million
  • Maximum Value: $24.8 million
  • Playing 65% of snaps: $500K bonus
  • Pro Bowl selection: $1 million
  • Playoff appearance + 65% snaps: $500K
  • Playoff win + 65% snaps: $500K
  • NFC title + 65% snaps: $1 million
  • Super Bowl win + 65% snaps: $1 million
  • Top 10 QB rating + 65% snaps: $500K
  • Top 10 completion rate + 65% snaps: $500K
  • Top 10 in TD passes: $500K
  • Top 10 in pass yards: $500K

While the deal doesn’t make Love one of the highest-paid NFL quarterbacks, it provides him with more money this year than he was previously set to make before the deal. While some of the contract details include unlikely incentives, meaning they won’t count against the NFL salary cap, reaching any of them would be a promising sign for the Packers’ future.

Ultimately, it’s a win-win deal for both sides and they seemingly made the best of an unusual situation. Considering a record-low of 12 players from the 2020 NFL Draft had their fifth-year options exercised, the resolution with Love isn’t even the worst-case scenario from his draft class.