Green Bay Packers quarterback Jordan Love is set to receive a massive payout, potentially the largest in organization history.
On Thursday, February 22, Michael Ginnitti of Spotrac projected that Love’s next contract will be worth $200 million over four years ($50 million per year). That price would eclipse the Packers’ contract with four-time MVP Aaron Rodgers in March 2022 ($150.8 million over three years).
“Love more than outplayed his bridge extension in 2023, making it unrealistic that he would finish the 2024 season on a one-year, $11 million contract,” Ginnitti wrote. “We’ve forecast a four-year, $200 million agreement for the 25-year-old, with a $50 million signing bonus and $87.5 million completely guaranteed at signing. The pact includes hefty roster incentives that vest [one] offseason early for 2026 ($37.5 million) and 2027 ($25 million), bringing the total realistic guarantee to $150 million. Love earns a $40 million rise this season per our forecast.
Massive Increase to NFL Salary Cap Will Benefit Jordan Love as He Negotiates First Major Deal With Packers
Rodgers’ contract constituted the highest annual average in NFL history, let alone the Packers organization. Salaries have continued to grow, with four quarterbacks presently earning AAVs ranging from $51 to $55 million, and more players are expected to join them this offseason.
Part of the reason for this is a massive increase in the salary limit year after year, with the NFL announcing the 2024 cap will be $255.4 million, including an additional $74 million per team for player perks, according to Ian Rapoport of NFL Network. Performance-based pay bonuses are among the benefits offered. The overall increase amounts to $30 million per team.
The additional cap room should drive free-agent contracts even higher, which will help players like Love. However, the 25-year-old signal-caller’s performance in 2023 was far more responsible for his expected salary increase than any cap increases this offseason — a development that should have Packers fans ecstatic that the team appears to have landed its third straight franchise quarterback, following Rodgers and Brett Favre before him.
Jordan Love Has Established Himself as Packers Franchise QB
Love completed 64.2% of his passes in 2023, his first season as a full-time starter. He passed for 4,159 yards, 32 touchdowns, and 11 interceptions, according to Pro Football Reference. Love also ran the ball 50 times for 247 yards and four touchdowns.
