It's widely agreed that Jordan Love was one of the top QBs at the end of last season, but can a strong half season and two-game playoff run guarantee the Green Bay Packers that they have a player deserving of a huge contract?
This is the question the team needs to answer this offseason, as Love is under contract until 2024 and could earn up to $22.5 million next year but is guaranteed only $13.5 million, per Spotrac.
As outlined by Brad Gagnon of Bleacher Report on Thursday, March 28, it would be wise for the Packers to wait another full season before making any major financial decisions regarding their quarterback.
Gagnon suggested, “Have Jordan Love prove himself for one more full season.”
Packers to Explore New Contract for Jordan Love This Summer
GettyQuarterback Jordan Love of the Green Bay Packers.
While some, like Gagnon, believe Green Bay should take a cautious approach with Love, the front office seems to have a different opinion.
NFL Network’s Ian Rapoport, Tom Pelissero and Mike Garafolo reported in February that the Packers plan to at least consider extending Love on a “fair-market” deal over the summer.
“The Packers are expected to be open to discussing a new, fair-market deal for Love that compensates him as a true starter,” they stated. “Quarterback contracts often happen in June or before the start of training camp, and that timeline makes sense. At just 25 years old, Love is now positioned for the first significant payday of his career.”
The exact meaning of “fair market” is up for debate, although any estimate is likely to approach $50 million annually. Currently, four quarterbacks already earn at least that much in average annual value on their existing contracts, according to Over The Cap, and more quarterbacks in — or approaching — their prime will join that group as they negotiate new contracts and the NFL salary cap continues to rise.
Spotrac estimates Love’s market value at $44.8 million annually over a new four-year contract, which totals nearly $180 million. This estimate may turn out to be low.
Jordan Love Ranked Among Top QBs in NFL During 2023 Season
GettyQuarterback Jordan Love of the Green Bay Packers.
Green Bay might actually be smarter to sign Love to an extension now, as another strong season for the quarterback could raise his annual salary even more.
Love started all 17 regular-season games in his first year as QB1 for the Packers after spending three seasons on the bench learning from four-time MVP and future Hall of Famer Aaron Rodgers. The time spent learning clearly paid off for Love, as he had a strong start in the first three games, recording 7 TDs and just 1 INT.
However, he slowed down in the middle of the year, as Green Bay struggled to win games. The team was 3-6 after losing four in a row and five of six games from Week 4.
Love then excelled as an NFL quarterback, leading the Packers to a 6-2 record to end the season and secure the final playoff spot in the NFC. Love only threw 1 interception during the last eight games of the regular season, and then guided Green Bay to a big win over the Dallas Cowboys away from home during Super Wildcard Weekend.
The team came close to winning against the San Francisco 49ers in the Bay Area the next weekend, losing by only 3 points after being ahead for most of the game.
Love ended the regular season with 4,159 passing yards, 32 touchdowns, and 11 interceptions. He also ran for 247 yards and 4 touchdowns.
