Packers Warned to Hold Off on Big Extension for QB Jordan Love

There is little debate that Jordan Love was among the elite QBs down the stretch last year, but does a half season and a two-game playoff run guarantee the Green Bay Packers that they have a player worthy of a massive extension?

That is the question the franchise has to answer this offseason, as Love is under contract through 2024 on a deal that could pay him up to $22.5 million next year but guarantees him only $13.5 million, per Spotrac.

According to a concise summation from Brad Gagnon of Bleacher Report on Thursday, March 28, it would behoove the Packers to wait another full season before making any major financial decisions on their quarterback.

“Make Jordan Love prove it for one more full season,” Gagnon wrote.

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Packers Will Discuss New Deal for Jordan Love This Summer

While some, like Gagnon, believe Green Bay should take a wait-and-see approach with Love, the front office appears to disagree.

NFL Network’s Ian Rapoport, Tom Pelissero and Mike Garafolo reported in February that the Packers intend to at least consider extending Love on a “fair-market” deal at some point over the summer.

“The Packers are expected to be willing to discuss a new, fair-market deal for Love that pays him like a true starter,” they reported. “QB deals often happen in June or before the start of training camp, and that timeline makes sense. Still just 25 years old, Love is now in line for the first big-time payday of his career.”

What “fair market” means is a matter of debate, though any answer is likely to approach $50 million annually. Four quarterbacks already earn at least that much in annual average value on their current contracts, according to Over The Cap, and more signal-callers in — or approaching — their primes will join that group as they come up for new deals and the NFL salary cap continues to rise.

Spotrac projects Love’s market value at $44.8 million annually over a new four-year contract, which computes to almost $180 million total. And that estimate may well end up proving low.

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Jordan Love Among Best QBs in NFL During 2023 Season

Green Bay may actually be wiser to ink Love to an extension now, as another top-end season for the quarterback could push his annual number even higher.

Love started all 17 regular-season contests in his first year as QB1 with the Packers after spending three campaigns on the sideline learning behind four-time MVP and future Hall of Fame inductee Aaron Rodgers. The time spent learning clearly paid off for Love, who got off to a quick start over the first three games, tallying 7 TDs to just 1 INT.

He slowed down during the middle of the year, however, as Green Bay struggled in the win/loss column. The Packers found themselves 3-6 after losing four in a row and five of six games beginning in Week 4.

Love then found his launch pad as an NFL quarterback, leading the Packers to a 6-2 mark to finish the year and the final playoff spot in the NFC. Love threw just 1 interception over the final eight regular season games, then led Green Bay to a route over the Dallas Cowboys on the road during Super Wildcard Weekend.

The team fell just short against the San Francisco 49ers in the Bay Area the following weekend, losing by just 3 points after leading for most of the contest.

Love finished the regular season with 4,159 passing yards, 32 TDs and 11 INTs. He also rushed the football for 247 yards and 4 scores.

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