An analyst predicts a timeline for a massive ‘guaranteed’ offer to Packers quarterback Jordan Love

It has been a long and winding road for the Green Bay Packers with Jordan Love, though it appears the franchise has hit the jackpot at quarterback yet again.

Love has thrown for 3,843 yards and 30 TDs with one regular season game remaining — a win-and-in home contest against the Chicago Bears to carry the Packers back to the playoffs in the quarterback’s first year as the full-time starter.

Michael Ginnitti of Spotrac predicted on December 27 that the Packers will consider a $150 million-plus “guaranteed” extension for Love based on his play, though the current structure of the QB’s contract will allow Green Bay to gather an extra season’s worth of information in 2024 before committing to Love long-term.

“Jordan Love should finish off his first full season as a starter somewhere in the middle of the pack in terms of overall production [and] efficiency. There have been a few moments of good wow and a few moments of bad wow along the way, setting up an interesting decision for Green Bay this offseason,” Ginnitti wrote.

“Have they seen enough to really put a stamp on this situation, extending the 25-year-old out a few years to secure him, or will they roll the dice on an expiring contract in 2024 (currently projected to carry a $9M cap/cash hit)?”

Love and the Packers found themselves in an interesting contract situation heading into 2023, after the team traded 15-year starter Aaron Rodgers to the New York Jets ahead of the NFL draft.

This was the final season of Love’s initial four-year rookie deal valued at $12.3 million in total. However, the QB had appeared in only 10 career games and recorded just one start during his first three years as a professional.

As a first-round pick back in 2020, Green Bay was in a position to exercise a fifth-year team option on Love’s contract through the 2024 campaign.

However, that option totaled over $20 million, which Packers general manager Brian Gutekunst negotiated down with Love and his representation. Instead, the team and QB agreed to a one-year $22.5 million deal for 2024, though the Packers fully guaranteed only $13.5 million of that total.

Green Bay’s renegotiation has proven a steal considering Love’s production as a 24/25-year-old during his first season as the starter. Love has also successfully navigated the pressure of replacing a four-time MVP in Rodgers while surrounded by the youngest offense in the NFL.

If Green Bay gets to the postseason and makes noise throughout the month of January, the Packers may decide they’ve seen enough to lock Love up for years to come. Right now, however, it makes sense for the team to let Love play a bit in 2024 before offering him an extension.