Sources: Love, Packers reach record-tying deal

GREEN BAY, Wis. — By late last season, the Packers‘ major decision-makers had publicly stated that they believed they had their long-term starting quarterback.

Now, they’ve put their money behind him.

The Packers on Friday agreed to terms with Jordan Love on a four-year, $220 million contract, sources told ESPN’s Adam Schefter. The $55 million average per year matches the Jacksonville Jaguars‘ Trevor Lawrence and the Cincinnati Bengals‘ Joe Burrow for the highest in league history.

The deal, negotiated by David Mulugheta and Andrew Kessler of Athletes First and announced by the Packers on Saturday, also includes a record $75 million signing bonus and $155 million in new full guarantees, sources said.

Love, 25, is now contractually tied to Green Bay through the 2028 season and scheduled to become a free agent again at age 30.

While Love reported for training camp with the rest of the team this week, he staged a hold-in — not practicing until the contract was done. He attended practice and participated in everything the team did off the field, including meetings and film sessions.

Love could see the field as soon as Saturday, when the Packers practice in pads for the first time.

The earliest possible date the Packers could have signed him was May 3 — one year after his previous extension. NFL rules say an extension cannot be extended again within the first 12 months. His previous deal added one year, the 2024 season, to his rookie contract. It was in lieu of the team picking up the fifth-year option on that deal. At the time, Green Bay gave Love an $8,788,655 signing bonus. His base salary for last season was $1.01 million. The prior contract included escalators that would have added $5 million to a $5.5 million base salary for 2024 had the two sides not agreed to this new deal.

Love threw for 4,159 yards with 32 touchdowns and 11 interceptions in the 2023 regular season. He was one of four quarterbacks last season to rank in the top 10 in passing touchdowns (second behind Dak Prescott), passing yards (seventh) and touchdown-to-interception ratio (seventh).

Love did something neither Aaron Rodgers nor Brett Favre did in their first seasons as the starter in Green Bay: make the playoffs. Love started all 17 games, and after a 2-5 beginning, the Packers finished 9-8 to make the playoffs. He led them to a wild-card win over the Dallas Cowboys in which he threw three touchdowns and zero interceptions before a divisional round loss at the San Francisco 49ers, which ended with a Love interception on the final drive.

It was on that late-season march to the playoffs when Love became convincing. Over the final eight games, he had 18 touchdown passes against just one interception while completing 70.3% of his passes for 2,150 yards.

“To go through the tough stretch in October and to see him so steady through all that and just really lead our team to get better week in and week out, and to see the rewards at the end of the season, I was very excited for him and our football team,” Packers general manager Brian Gutekunst said shortly after the season. “For as good as he played, there’s so much more in front of him and just excited for him and where he’s going.”

This after Love sat for three seasons behind Rodgers. It wasn’t until Gutekunst traded Rodgers to the New York Jets in April 2023 that the Packers handed the offense over to Love. Before last season, he had started just one game — a 13-7 loss at the Kansas City Chiefs when Rodgers was out because of COVID-19.

“He had a hell of a year,” Packers coach Matt LaFleur said shortly after the season. “Let’s not look past that. He really did. Just to see the growth … obviously the results speak for themselves, but the growth of him as just the commander out there, he’s an extension of us, and I thought the ownership that he showed, the leadership that he showed, was a great sign for us.”

Love did it surrounded by the youngest roster in the NFL.

“I’m really happy for Jordan,” Packers president Mark Murphy said this offseason. “The way he played — and not only the level he played at, especially as the season got on — he just seemed to get more and more confident. But his leadership, we saw that throughout the offseason and certainly during the season, so I’m really, really pleased with the way he’s played, and I just think the future is really bright.”