The next domino has fallen with quarterback contracts. According to Ian Rapoport of NFL Network, the Packers have reached an agreement extending quarterback Jordan Love on a four-year, $220MM deal. The contract makes Love tied for the highest annual average salary in NFL history.
Love’s path to his big day is one not often seen in the NFL. After being the fourth quarterback taken in the first round of the 2020 NFL Draft, Love was the only one of the four passers to not start at least half the season as a rookie. In fact, Love was the only first-round pick in that year to not even appear in a game his rookie season. He was a victim to the Packers’ notorious strategy of drafting and stashing a quarterback talent while their long-time veteran finishes out his time in Green Bay.
After redshirting his rookie year, Love made his first career start in 2021, replacing a COVID-19-positive Aaron Rodgers. He delivered a middling performance in a loss to the Chiefs and appeared in mostly garbage-time situations for nine other games in 2021 and 2022.
In 2023, after Rodgers forced a trade to the Jets, Love finally was given an opportunity to prepare for the season as a starter. With ten game appearances and only one start under his belt, Love took over the offense, starting all 17 games last year. In his first season as the starter under center, Love went 9-8 in the regular season, completing 64.2 percent of his passes for 4,159 yards, 32 touchdowns, and 11 interceptions.
Green Bay’s 9-8 record under Love was good enough to earn them a playoff spot as the No. 7 seed, setting them up for a trip to the No. 2-seeded Cowboys in Super Wild Card weekend. Love played lights out, knocking out Dallas before going toe-to-toe and losing a three-point contest to the top-seeded 49ers.
That is the story of Love’s career: the lone season as a starter in the NFL. That was apparently enough for Green Bay to tie him with Joe Burrow and Trevor Lawrence as the highest-paid players in NFL history. Burrow and Lawrence both are making $55MM per year on five-year contracts, so technically they are in line to receive more money that Love, but Love’s $220MM in four years matches them in annual value.
Where Love’s new deal outdoes Burrow and Lawrence is in guarantees. For starters, Love is set to receive an NFL-record $75MM signing bonus. Lamar Jackson‘s signing bonus last year of $72.5MM is the next closest such figure. ESPN’s Adam Schefter reports that Love’s new contract includes $155MM in new guarantees. This amount, too, would be an NFL record high, if not for the outlandish, fully-guaranteed $230MM contract of Deshaun Watson.
As negotiations with the Packers had been failing, Love was staging a “hold-in,” attending training camp to avoid fines but participating minimally, if at all. After finally putting pen to paper, Love should be suited up for the team’s next training camp session.
While deals for passers graduating from rookie contracts like Zach Wilson, Trey Lance, Justin Fields, and Mac Jones still remain on the horizon, the most important remaining ongoing contract negotiation is that of Cowboys passer Dak Prescott. Currently ranking 14th in average annual salary, Prescott’s regular season success should set him up for a big pay day, once he comes to terms with Dallas.
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