NFL insider reveals staggering cost of a potential Jordan Love contract extension for Green Bay Packers in 2024

Green Bay Packers quarterback Jordan Love

The Green Bay Packers took a small, calculated risk in May 2023 by signing quarterback Jordan Love to a one-year contract extension. A year later, Love could be on the verge of becoming one of the highest-paid NFL players.

Love originally signed a team-friendly deal worth $22.5 million, ensuring him with $13.5 million guaranteed. While it gave the starting quarterback an immediate payday, the Packers cashed in with a cap-friendly salary for the 2024 season that would make Love one of the best bargains in the NFL if he played up to his potential.

  • Jordan Love contract: $12.757 million cap hit in 2024, $10.5 million salary. 2025 free agent

The former first-round pick exceeded expectations. After a bumpy ride in the first half of the season, Love was statistically one of the best quarterbacks in football over the second half of the regular season. While his 2 interceptions in the Divisional Round loss proved costly, Green Bay saw enough from its quarterback.

At his first press conference of the offseason, Packers’ general manager Brian Gutekunst admitted that extending Love is a priority this offseason. While there’s no timeline for when a deal could be reached, there are new estimates on what it will cost the Packers to finish a deal.

Jordan Love contract projections

Matt Lombardo of FanBuzz spoke to NFL and executives about Love’s 2023 season and the expected cost of signing him to a contract extension. The consensus centered on Love as one of the true breakout NFL players this past season, with a belief that he could be the new face of the Packers’ franchise.

As for the projected cost of signing him to a long-term deal, one agent suggested that Love put himself in the market for a new contract starting at $40 million per season. Another agent who represents multiple starting quarterbacks said if he represented Love, the price would be $50 million annually.

  • Jordan Love stats (Weeks 11-18): 112.7 QB rating, 70.25% completion rate, 7.7 yards per attempt, 2,150 passing yards, 18-1 TD-INT, 2 rushing touchdowns

Related: Green Bay Packers draft picks 2024

If Love signs in the $40-$45 million average annual value range, he would immediately become one of the 10 highest-paid quarterbacks in the NFL. At $50-plus million, however, the Packers’ quarterback would join Joe Burrow, Justin Herbert, Lamar Jackson and Jalen Hurts as the only NFL players to make $50 million annually.

While it might seem like an absurd asking price for a young quarterback, that is the direction the market is headed. Dak Prescott will earn $50-plus million AAV on his next contract extension, while Kirk Cousins and Jared Goff will push for $45-plus million. While the exact price tag for Love is unclear, the Packers’ front office is prepared to pay whatever it takes to keep their new franchise quarterback long-term.

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