If they can't do an extension, they exercise the option.
You don't draft a QB in R1, have him sit 3 years, and trade away Rodgers to not give the guy a chance, and not get a long enough look to know if he's good. $20M for a starting QB is nothing in the NFL, with the way QB contracts are.
If they don't have him under contract next year, what is the plan at QB then? Starting a rookie would be dicey, signing Andy Dalton would be gross.
Report Love has been given an extension through 2024.
Adam Schefter
@AdamSchefter
Packers and Jordan Love have agreed on a one-year contract extension worth up to $22.5 million, including $13.5 million fully guaranteed, per source.
Ring the bells that still can ring
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That's how the light gets in - Leonard Cohen
Did we extend instead of exercising the option as it’s less guaranteed money??
Yes, they also restructured Savage, hopefully Safety help and a Vet receiver are in the works, although it may be best to wait until cut downs for the vet receiver as not much left in free agency maybe LandryOriginally Posted by Fosco33
It’s not much difference than the 5th year option. Love gets a nice chunk of change now. And presumably, the Packers could cut him after this year and save 5M or so. It’s a little less risk than the full 5th year option for the Packers and it’s money up front for Love.
Formerly known as JustinHarrell.
It’s actually a nice compromise. Instead of 20 guaranteed, it’s 13 guaranteed and some up front. It’s a nice meet in the middle for a guy who hasn’t proven anything.
Formerly known as JustinHarrell.
Kind of interesting that Jordan signed that. If he thought he was going to ball out, he took a below market deal. Ultimately it is surprising to me that he signed it and good for the Packers!
HOFer
Not really. I think he's betting on himself. If he performs well, he makes more money upfront and overall vs. his current contract + 5th year option.
"There's a lot of interest in the draft. It's great. But quite frankly, most of the people that are commenting on it don't know anything about what they are talking about."--Ted Thompson
HOFer
If he plays well, he'll make $2.5m more with this deal--with more upfront. If he plays poorly and the Packers go a different direction, I think he loses about $6-7M in this deal. Essentially, he's betting on himself to do well.
"There's a lot of interest in the draft. It's great. But quite frankly, most of the people that are commenting on it don't know anything about what they are talking about."--Ted Thompson
The 5th year was more guaranteed than this deal and nearly identical max value if you add the 5th year plus what he was scheduled to make this year. This is absolutely not as good as the 5th year option for Love and it’s all but certain the Packers informed them they were not going to exercise the 5th year option.
If Love declined it and had a great year, he’d make double in 2024. But injuries happen. Hard to say he’s not confident in himself by signing this deal because even if he is confident, injury is a risk and that’s a reason to sign this deal.
In the end, Love gives up the chance to make 20 extra million in 2024 by signing this deal, but he gets a lot of money up front so he’s secure even if the worst happens.
It makes sense for both sides, but if Love was really betting on himself in the biggest way, he woulda said nope, and got a lot more next year.
Formerly known as JustinHarrell.
HOFer
I've seen varying reports on what the total money would be for each deal? Initially, they were saying he would make $2M more with this deal.
"There's a lot of interest in the draft. It's great. But quite frankly, most of the people that are commenting on it don't know anything about what they are talking about."--Ted Thompson
He was scheduled for 2.5 base. So they added a max of 20 for the second year. Best case it’s 5th year option money. But the 5th year would have been fully guaranteed. This is definitely not better than the 5th year option for him and I’m certain they informed him they were not exercising that because there is absolutely no benefit to this deal over the 5th for him.
Formerly known as JustinHarrell.
Seems like a good deal for both sides -- gives team that extra year to figure out their QB situation, and gives Love a some more upfront money while betting on himself.
per APCThere are currently zero quarterbacks in the NFL other than Love who have a contract that pays between $10 million and $24 million on average per year.
Haven't seen anything re: Savage yet, that would be interesting. They are clearing cap space for something.
And if he does play well, he knows he's going to have the Packers either re-negotiate next offseason or risk losing him. Not a bad deal for either side.
"The Devine era is actually worse than you remember if you go back and look at it."
KYPack
HOFer
why in the fuck would we do this?
we didn't have to pick up his 5th year option until after next season
we just threw away the last advantage to having a rookie QB
just dumb IMO
gutey is way in over his head
No. They had to pick up his 5th year option today.
Ring the bells that still can ring
Forget your perfect offering
There is a crack, a crack in everything
That's how the light gets in - Leonard Cohen
HOFer
oh, the story did say that in the next line after saying they gave him a new deal
its my right as an american to vent without knowing any facts
Ring the bells that still can ring
Forget your perfect offering
There is a crack, a crack in everything
That's how the light gets in - Leonard Cohen
HOFer
I may be misreading the terms. The extension was $22.5m, but that doesn't include what he gets this year in a restructure, so that would be $22.5m + 2023 salary. Plus, he would get more upfront money--which has value. His base for this year is $2.3m and the 5th year option would be $20.2m, so total of $22.5m max on the old deal.
"There's a lot of interest in the draft. It's great. But quite frankly, most of the people that are commenting on it don't know anything about what they are talking about."--Ted Thompson
Last I heard, the new contract contained a 13.5 million signing bonus. 6.5 million base in 24 and 2.5 million xtra in earnable incentives.
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