Jordan Love warming up at training camp - Photo by Green Bay Packers
GREEN BAY, WI (WSAU) – The Green Bay Packers have decided on what to do with Jordan Love’s contract for the foreseeable future.
If the Packers had exercised Love’s fifth-year option, it would have been fully guaranteed and would have cost the team $20.2 million. According to ESPN’s Adam Schefter, the total possible costs of this extension are $22.5 million, a few million more than the option, while the guaranteed money is much less, at only $13.5 million.
This reduced guarantee gives some safety for the Packers if Love does not perform like a capable NFL starting quarterback. Meanwhile, Love is likely to receive a sizable signing bonus today, as the Packers typically only guarantee to sign bonus money rather than base salary.
If that’s the case, Love will receive a $13.5 million signing bonus, which will be paid equally between this upcoming season and the 2024 season.
With this extension, the Packers are somewhat lowering expectations on Love to be the team’s next franchise quarterback. If this extension had not worked out and the fifth-year option was exercised instead, the organization would’ve had no choice but to use the franchise tag on Love next season if he performed well enough this upcoming season and that price would’ve likely been roughly $30 million.
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