Michael Ginnitti of Spotrac projected on Thursday, February 22, that Love’s next deal will total $200 million over a four-year contract ($50 million annually). That figure would exceed the agreement the Packers made with four-time MVP Aaron Rodgers in March 2022 ($150.8 million over three years).

“Love more than outplayed his bridge extension in 2023, making it unrealistic that he would play out the 2024 campaign on a 1 year, $11M contract,” Ginnitti wrote. “We’ve projected a 4-year, $200M extension for the 25-year-old, including a $50M signing bonus [and] $87.5M fully guaranteed at signing. The deal contains large roster bonuses that vest [one] offseason early for 2026 ($37.5M) [and] 2027 ($25M) raising the practical guarantee on this deal up to $150M. Love secures a $40M raise this season within this projection.”

Massive Increase to NFL Salary Cap Will Benefit Jordan Love as He Negotiates First Major Deal With Packers

GettyQuarterback Jordan Love of the Green Bay Packers.

When Rodgers signed his contract, it represented the largest annual average in the history of the NFL, let alone the Packers franchise. Salaries have continued to rise, as four quarterbacks currently have AAVs between $51-$55 million, and more players are likely to join them this offseason.

Part of the reason for that is a dramatic bump in the salary cap year over year, as the NFL announced the 2024 cap will be $255.4 million and include an extra $74 million per franchise to be used for player benefits, per Ian Rapoport of NFL Network. Those benefits include bonuses for performance-based pay. The total increase equals $30 million per team.

The extra cap space should push free-agent contracts even further north, which certainly benefits players like Love. However, the 25-year-old signal-caller’s play in 2023 was far more responsible for his expected pay bump than any cap increases this offseason — a development that should have Packers fans giddy about the fact that the team appears to have landed its third straight franchise quarterback following Rodgers and Brett Favre before him.

Jordan Love Has Established Himself as Packers Franchise QB

GettyQuarterback Jordan Love of the Green Bay Packers.

Love finished the 2023 campaign, his first as a full-time starter, with a 64.2% completion percentage. He threw for 4,159 yards, 32 TDs and 11 INTs, per Pro Football Reference. Love also rushed the ball 50 times for 247 yards and 4 scores.

Green Bay finished 9-8 under Love, winning the final three games of the regular season to earn a trip to the playoffs with the No. 7 seed in the NFC. Love led the Packers to a blowout road win against the favored Dallas Cowboys over Super Wildcard Weekend. The team also held a fourth-quarter led over the eventual NFC Champion San Francisco 49ers in the Divisional Round before falling by just 3 points.

Love accomplished all of that with the youngest offense in the NFL based on average age. He will not turn 26 years old until November and appears poised to captain the Packers to considerable success for at least the next decade to come.

Max Dible covers the Green Bay Packers, Minnesota Vikings, Chicago Bears, Cleveland Browns and Golden State Warriors for Heavy.com. He covered local and statewide news as a reporter for West Hawaii Today and served as news director for BigIslandNow.com and Pacific Media Group’s family of Big Island radio stations before joining Heavy. More about Max Dible