Jordan Love's Contract Extension Value Possibly Revealed
After a breakout 2023 campaign, NFL insiders are projecting Packers QB Jordan Love to make around $50 million annually when it comes to a potential contract extension.
It's no secret that the Green Bay Packers wouldn't have made it to the NFC Divisional Round had it not been for Jordan Love's breakout campaign. The 25-year-old quarterback proved that he belongs in the NFL following his first year as a starter, leaving the fanbase to wonder what his next contract could look like.
Well, Green Bay fans don't have to wait any longer to discuss potential financial figures. According to Packers insider Tom Silverstein, Love is expected to earn around $50 million annually when it comes to a hypothetical contract extension.
The reporting from @TomSilverstein also includes an expected Jordan Love’s number at ~50M APY, and a forthcoming extension for Kenny Clark that would likely also create cap space. #Packers would still have space to add if they wanted.
— Peter Bukowski (@Peter_Bukowski) March 25, 2024
Packers Rumors: Jordan Love Extension Value Possibly Revealed
$50 million is a lot of money, but it's also a realistic value for the numbers that Love just put up. The ex-Utah State gunslinger was among the NFL's best arms in 2023, ranking seventh in passing yards (4,159), second in touchdowns (32), and 10th in passer rating (96.1).
Assuming that does earn $50 million annually on his next deal, that salary would rank fifth among QBs next season. Again, that's pretty fair value if Love can continue throwing for over 4,000 yards and anywhere between 30 and 40 TD passes.
At the same time, it's understandable if some Packers fans are hesitant to shell out that type of money. After all, Love has only been a starter for one full season and only has 18 starts since being drafted 26th overall in 2020. It's only natural that some supporters are unsure if his latest campaign was a fluke or if he's legitimately the real deal.
Packers general manager Brian Gutekunst isn't worried about Love's perceived lack of experience, though. The 50-year-old told reporters on Monday that while there are risks that come with big extensions, management is confident that they know what they're getting with Love after the signal-caller spent the last four seasons with the franchise.
Brian Gutekunst on the risk of giving Jordan Love a mega extension after one season — albeit one hell of a season — as #Packers starter.
— Ryan Wood (@ByRyanWood) March 25, 2024
“The nice thing about having a guy in your building four years is you absolutely know who he is.” pic.twitter.com/jdq2tpFJdX
A chunk of fans likely wants to see what Love does for an encore, but that might not be the best idea. Another strong performance would only increase his demands. The Packers can franchise tag him in 2025 and 2026, but they'd likely have to pay way more than $50 million to retain him beyond those years.
Spotrac lists the Packers as having just over $22 million in cap space with the 2024 NFL Draft being a month away. A potential contract extension for defensive tackle Kenny Clark would help create even more space to help extend the franchise's quarterback this spring.
In the meantime, the 2024 campaign is shaping up to be a promising one for Green Bay. Not only does Love own the seventh-best NFL MVP odds on FanDuel Sportsbook, but the Packers also have the 10th-best odds to win Super Bowl LIX next February.
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