Spotrac's Jordan Love Contract Extension Prediction Will Surprise

After bursting onto the scene with his breakout 2023 campaign, Jordan Love is about to get paid. The Green Bay Packers and Love had agreed on a one-year extension last year instead of picking up his fifth-year option. This allowed Love to make more money upfront while maintaining cap flexibility for the Packers. This undeniably worked perfectly as Love outplayed his contract.

Love outplaying his extension also means that it's unrealistic for him to play on a one-year, $11 million deal for the 2024 campaign. This signals that a contract extension is looming for the 25-year-old.

According to Spotrac, Love is projected to receive a four-year, $200 million extension from the Packers, including a $50 million signing bonus. This deal would keep Love in Titletown until 2029. It also gives the young quarterback an extra $40 million for the 2024 season.

Packers News: Jordan Love Projected to Get $200 Million Extension

This sounds like a lot of money but given where the salary cap in the NFL is at, it is understandable. The league just announced a $30 million increase for the salary cap in 2024, pushing it to $255.4 million.

The market value for elite quarterbacks exceeded the $50 million per year mark a few years ago. Joe Burrow, Justin Herbert, and Lamar Jackson all have average annual values of $52 million or more. Dak Prescott is projected to hit the $60 million mark with his extension this offseason.

Love's extension puts him between Jalen Hurts ($51 million AAV) and Kyler Murray ($46.1 million AAV), two players in similar stages of their careers. Love doesn't have the same experience as those two as he only has one full season as a starter, but the Packers certainly believe that he is a similar-caliber gunslinger as them.

FanDuel Sportsbook certainly believes that Love can hit another level next season as he has the sixth-best odds (+1200) to win the AP NFL MVP award, ahead of players like Dak Prescott, Jalen Hurts, and Aaron Rodgers.

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