Here’s How Love’s Contract Will ‘Create Some Challenges’

Jordan Love’s contract extension obviously will have an impact on the Green Bay Packers’ salary cap and the team’s ability to build around him.

Green Bay Packers quarterback Jordan Love (10) runs onto the practice field for his first practice of training camp on Saturday. / Tork Mason / USA TODAY NETWORK

GREEN BAY, Wis. – The four-year, $220 million contract extension signed by Green Bay Packers quarterback Jordan Love on Saturday will make building a roster around him a challenge.

Not immediately, though.

According to OverTheCap.com, Love’s low base salaries of $3.5 million in 2024, $11.9 million in 2025 and $10.4 million in 2026 will make for easy-to-digest salary-cap charges of $20.26 million for this season, $29.76 million for 2025 and $36.16 million in 2026.

According to OTC and its projections of the salary cap, Love will consume just 7.6 percent of the cap this year, $11.4 percent in 2025 and 12.7 percent in 2026.

The rubber begins to hit the road in 2027. Love’s base salary is $10.4 million but there’s a $14.2 million option bonus, as well. Thus, his cap charge will jump to $42.46 million. That would consume 13.5 percent of the projected cap.

In 2028, the final year under contract, Love is due a base salary of $49.3 million. Along with another $14.2 million option bonus, his cap charge will soar to $74.2 million.

It’s unlikely Love will play for that amount. At some point between the 2027 and 2028 season, the team and Love probably would start working toward another contract extension. Otherwise, for the first time, the team can move on from Love and save money against cap – $33.74 million, according to OTC.

Three void years were inserted at the end of the extension to help with proration of the $75.0 million signing bonus. Thus, his cap charge in 2029 is $34.7 million.

“There always, whenever you have these big contracts, some challenges, but we’ve dealt with that pretty much over the past however many years,” general manager Brian Gutekunst said before Saturday’s practice.

Aaron Rodgers consumed 14.9 percent of the cap in 2019, 10.6 percent in 2020, 14.9 percent in 2021 and 13.2 percent in 2022.

“So, that’s part of it,” he continued. “But I’d rather be dealing with this challenge than some others, you know? So, that will be part of it and it’ll be important that we continue to draft well and make good decisions along the way. But having that position stable and a guy who we know can perform at a high level, I’ll take that every day.”

Gutekunst is right. All the salary-cap space in the world is irrelevant if you don’t have a winning quarterback. The Packers believe they have a winning quarterback in Love, who led the Packers to a 6-2 record during the second half of last season and beat the Cowboys in the playoffs.

Viewed through a financial window, 2024 and 2025 are Green Bay’s prime opportunities to be a Super Bowl contender. That’s because Love’s cap number is relatively low and the high-powered draft classes of 2022 and 2023 will be playing under rookie contracts.

After the 2025 season, though, the Class of 2022 will be headed to free agency. Even if first-round picks Quay Walker and Devonte Wyatt are playing under their fifth-year options, Christian Watson, Romeo Doubs, Zach Tom and Rasheed Walker will be free agents after 2025.

After the 2026 season, the Class of 2023 will be headed to free agency. The Packers’ free-agent class could consist of Walker and Wyatt from the 2022 draft, Luke Musgrave, Jayden Reed and Dontayvion Wicks from the 2023 draft, as well as cornerbacks Jaire Alexander and Keisean Nixon and guard Elgton Jenkins.

There’s no way Gutekunst and Russ Ball can keep the gang together. The key to sustained success will be strong draft classes and judicious re-signings.

“It’s going to create some challenges down the road,” Gutekunst said. “I think our football team as a whole – not just Jordan’s contract but our football team as a whole – is in really good shape. Russ is doing a great job. Certainly, I think the young players we went with last year have been helpful to that, to get us out where we were [from a cap perspective]. The next few years, I think we’re in pretty good shape. There will be some challenges down the road, no doubt.”

The Packers are counting on Love being able to tackles those challenges, as well.

“Oh, man, it’s definitely a blessing,” Love said. “That’s why I’m very grateful that the Packers believe in me and are putting that faith in me. Definitely, anytime you make it to the NFL, I think since I’ve been here, it’s just something that I’ve found important, to be able to go out there and put out my best, be my best every day and come in here and work hard to be able to prove these guys right. And then, obviously, put in the work for my teammates to be the best player I can be for them.”

More Green Bay Packers Training Camp News

What did you miss at #Packers training camp yesterday?

A lot.

Jordan Love was back.
The pads were on.
Intensity was up.

Here's everything you need to know. ⬇️https://t.co/29FvuI1fMb

— Bill Huber (@BillHuberNFL) July 28, 2024

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