Contract details: Breakdown of Jordan Love's $220 million contract extension with Green Bay
The Green Bay Packers made a bold decision in giving Jordan Love not only one of the biggest deals in NFL history, but the largest in franchise history by far. And the extension coming after just one year of starting under his belt will surely raise eyebrows.
But Love’s 2023 play surely inspired confidence in Green Bay’s brass, or they likely wouldn’t have offered him a four year, $220 million extension that will keep Love under contract for the Packers through until 2028. It also puts him at the top of the quarterback market, earning $55 million a year.
Green Bay also handed out the biggest signing bonus in NFL history to Love, according to Spotrac: $75 million. That surpassed the $73 million the Detroit Lions signed over to Jared Goff earlier in the summer.
Including his signing bonus, Love is guaranteed to make $100.8 million on his contract extension.
And although it should be noted that while Love is sitting atop the market with the likes of Trevor Lawrence and Joe Burrow in terms of annual average value, his (and Lawrence’s) deals came with a higher overall salary cap, meaning Burrow’s still takes the prize as the deal for the highest percentage of cap space.
The new deal also turned the screws on the Packers cap space, bumping up Love’s salary cap hit north of $20 million, an $8 million increase. It’s a price the Packers can currently afford to pay given the youth movements on defense and in the receiving corps, as well as on the offensive line, to an extent.
The full breakdown of the cap hits Love will command is as follows, according to Spotrac.
- 2024: $20.7 million
- 2025: $29.7 million
- 2026: $36.1 million
- 2027: $42.4 million
- 2028: $74.2 million
It’s a safe bet, given the massive escalation in salary cap hit, that the Packers work out another extension with Love well before the 2028 season rolls around. Love will turn 30 late during the 2028 season.
The cash flow for Love also makes him among the 10 highest paid players over the next handful of years.
The full cash flow breakdown, according to Spotrac.
- 2024: $79 million
- 2025: $13 million
- 2026: $51 million
- 2027: $43 million
- 2028: $45 million
And if Love ends up panning out on the immense promise he showed late last season, and his unquestionable physical tools, paying him $55 million annually, on average, might look like a bargain well before this contract is up.