The Packers and Jordan Love can already officially sign a contract extension

Exactly one year ago, on May 3, 2023, the Green Bay Packers and Jordan Love signed a band-aid contract that showed where they were. The front office wanted to give him a chance, but it was impossible to know how well Love would play. The quarterback himself wanted to make as much money as possible right away, with more on the table later, even if it meant giving away some future leverage.

A lot changed over the last 12 months, and a really important factor of that calendar year being over is that now the Packers and Love can legally sign a new extension — which is expected to happen fairly soon.

"We are really excited to build around him," Packers general manager Brian Gutekunst said earlier this year. "Just the way he led our football team through the tough times, through the success, all the challenges that a season kind of brings you. For a young player in his first year that's trying to figure it all out, that was exceptional."

Even in his first year as a starter and replacing a legend in Aaron Rodgers, Jordan Love grew through the season. His second half of the year was among the best in the league, and that helped the Packers to surprisingly reach the divisional round.

"He's got so much more in front of him. As good as he played at times this year, there's a very, very high upside," Gutekunst added. "I've always talked about how there's usually a progression there where you go from playing, to playing well, to winning. He did that in pretty short order in season 1. Very excited where he can go."

Contract

Now, it's not a matter of if Jordan Love will sign a long-term extension anymore, but for how much. A to Z Sports talked to salary cap and contract specialists, trying to find out the range of Love's new contract with the Packers.

"My feeling is that he should come in somewhere between Kyler Murray and Jalen Hurts," said Jason Fitzgerald, from Over The Cap. Murray signed a five-year, $230.5 million extension with the Arizona Cardinals, with a $46.1 million yearly average. Jalen Hurts' extension with the Philadelphia Eagles is a five-year, $255 million contract, $51 million per season.

"I don't think it's fair to lump him with Daniel Jones, as Jones had years of below average play, while Love simply didn't play," Fitzgerald added. "While he did not advance as far as Hurts, I think it's a similar story in that it's a one-season wonder at the moment with playoff success. Hurts turned that into the highest-paid quarterback for a few days."

Brad Spielberger, who was still with PFF when we talked to him, thinks Jordan Love can get even more after a strong season — and also because Love is so young. The analyst projects a five-year deal, with a total salary in the range of $250 million to $260 million — which would mean $50 million to $52 million annually.

Priority

The 2024 salary cap will be much higher than anyone had projected. The number, $255.4 million, is $13.4 million more than the credible website Over the Cap was working with.

That's more than a $30 million difference if compared to the 2023 cap number. And well, maybe the growth won't be as absurd year by year moving forward, but maybe it will. At worst, it will be a huge increase each and every year. And that expected increase should inform how the Green Bay Packers have to operate Jordan Love's contract negotiation.

Fighting for $2 million or, damn it, $5 million per year with your franchise quarterback is simply not worth it. The Packers' priority shouldn't be total value or yearly average, but flexibility to build a strong roster around Love in the next few years.

The first step for the Packers is to prioritize a long-term extension. Really long. Sure, it's hard to find a quarterback or an agent willing to execute a Patrick Mahomes-esque 10-year deal, but a six-year extension just like Josh Allen signed with the Buffalo Bills is more realistic.

Right now, a $52 million yearly average would mean 20.3% of the salary cap. In two or three years, projecting that Love will keep his ascension, that will look like a bargain.

A longer contract is also good for two other reasons. First, it gives the team more flexibility to backload the deal without compromising the cap so much — and that means lower cap hits early on. Second, it gives the team management more confidence that he will be around for a long time, which allows them to build the rest of the roster accordingly.

In 2023, Jordan Love confirmed he is the answer. Now, it's time for the Packers to keep him around for a long time.