The Green Bay Packers have reportedly agreed to a one-year contract extension with quarterback Jordan Love, sources with knowledge of the deal confirmed to NFL Network's Tom Pelissero reported on Tuesday (May 2).
The Packers had until Tuesday to decide on whether to exercise the fifth-year option for Love, the successor to recently traded longtime starter Aaron Rodgers, on his rookie contract through the 2024 season. Instead, the team signed Love to a one-year extension which includes $13.5 million guaranteed and could earn the former Utah State standout up to $22.5 million, sources confirmed.
"It's a one-year extension that can be worth up to $22.5 million, including $13.5 million guaranteed, source said. A bridge deal that can pay him more than the roughly $20M option," Pelissero tweeted.
Love was selected by the Packers at No. 26 overall in the 2020 NFL Draft, a move that Rodgers said served as the franchise showing its intention of wanting to move on, but was delayed by his consecutive NFL MVP awards prior to last season. The 24-year-old quarterback has only appeared in 10 games and made one start in Rodgers' absence during his first three NFL seasons.
The Packers traded Rodgers to the New York Jets last week after 18 seasons with the franchise. Green Bay received three picks in the 2023 NFL Draft, as well as a conditional 2024 second-round pick, which will become a first-rounder if Rodgers plays 65% of the Jets' offensive plays in 2023, according to ESPN's Adam Schefter. The Jets also received the Packers' first-round pick and fifth-round pick.
Rodgers signed a three-year, $150 million extension with the Packers last offseason amid previous reports of being disgruntled with the franchise. The 39-year-old was coming off back-to-back MVP seasons ahead of the 2022 NFL season, which resulted in Green Bay missing the playoffs after clinching a postseason berth during the previous three consecutive seasons and 11 of the past 13 years.
Rodgers leads all Packers quarterbacks with 475 touchdowns and ranks second in franchise history behind only Favre in QB wins (147), completions (5,001) and passing yards (7,660).