The Green Bay Packers have agreed to a new contract with QB Jordan Love that runs through the 2024 season, according to Tom Pelissero.
Adam Schefter adds it’s a one-year extension instead of the fifth-year option. The deal is worth up to $22.5 million and includes $13.5 million fully guaranteed.
The fifth-year option would have cost the Packers $20,272,000 fully guaranteed for the 2024 season.
That would have been a bit of a gamble considering Love’s lack of experience but the upshot would have been getting him at a bargain as opposed to needing to use the franchise tag to keep him in 2024, which could have been over $40 million.
This deal gets Love more money upfront and helps the Packers protect themselves financially whichever way things go in 2023.
Love, 24, was a three-year starter at Utah State and earned All-Mountain West honors the past two seasons. The Packers traded up with the Dolphins to select him at No. 26 overall in the 2020 NFL draft.
Love is entering the final of his four-year, $12,383,451 rookie contract that includes a $6,566,146 signing bonus. He will be an unrestricted free agent in 2025.
In 2022, Love appeared in four games for the Packers and completed 66.7 percent of his passes for 195 yards one touchdown and no interceptions.
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