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USA Today Sports Media Group
USA Today Sports Media Group
Sport
Zach Kruse

New contract details for Packers QB Jordan Love

The contracts details are in for quarterback Jordan Love and the Green Bay Packers, who agreed to a four, $220 million contract. Love signed the deal on Saturday morning.

Over the Cap has all the details and structure of Love’s new deal here.

Some key points:

An offer for Packers fans

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— Love’s cap number in 2024 will be $20,257,731, adding roughly $8 million to the cap this year. This deal has little immediate impact on the Packers’ salary cap. The cap number in 2024 from prorated signing bonus plus a $3.5 million base salary.

— In fact, Love’s cap number doesn’t rise above $40 million during any of the first three years of the deal (2024-26). Even in 2027, his cap number will be just over $42 million. The Packers won’t be badly constrained by Love’s cap impact during the first few years of the deal.

— The Packers added three void years onto the end of the deal to help spread out the cap hit of the option bonuses. For cap purposes, this is a heavily backloaded deal. When the deal voids, $34.7 million will get dumped on the 2029 cap in the form of dead money. But that’s a problem for another day.

— Love has guaranteed base salaries in 2024 ($3.5 million), 2025 ($11.9 million) and 2026 ($10.4 million). The Packers went outside their typical contract structure, as expected, and guaranteed more than just a signing bonus. Speaking of the signing bonus, the $75 million given to Love is an NFL record.

— On the fifth day of the 2025 league year, Love will have $39.5 million of his 2026 salary become guaranteed. On the fifth day of 2026 league year, Love will have $20 million of his 2027 salary guaranteed. More guaranteed money

— Love’s base salary in 2028 is $49.3 million, all non-guaranteed. His cap hit also balloons to $74.2 million in 2028.

— Love has total per-game roster bonuses equaling $600,000 every year between 2025 and 2028. He also has $500,000 in workout bonuses available every year between 2025 and 2028. Altogether, this is worth $4.4 million.

— The first year the Packers can save money on the cap with a release is 2028. This looks like the fork in the road of the contract — by 2028, Love and the Packers will need to determine the path forward financially. His cap number won’t be tenable.

— Love will get $79 million total in Year 1.

This effectively looks like a four-year deal that will get addressed and changed — in one way or another, and regardless of whether Love is an elite player or falls off a cliff — by the offseason before the 2028 season. Just as important, the cap numbers in the first four years provide an open window for the Packers to add and retain players around a top quarterback contract.

Could this be a win-win? Only if Love is a top quarterback, obviously. But the Packers are getting manageable cap hits in the first four years and a few outs. Love is getting a ton of money up front and a deal that keeps him under contract for only 4-5 years, so another top-of-market contract could be possible before he turns 30.

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