Full details of Jordan Love's extension give us a clear indication of the Packers' long-term plan

The Green Bay Packers finally agreed to a long-term contract extension with Jordan Love on Friday night. The deal got officially signed on Saturday, allowing Love to be on the field for the first padded practice of training camp. It's a four-year, $220 million deal, with a $75 million signing bonus. Mike Florio, from NBC […]

Wendell Ferreira — NFL News Writer

Jul 27, 2024 12:27 PM EDT

Jordan Love — Tim Heitman-USA TODAY Sports

Mike Florio, from NBC Sports, has the full breakdown of the deal.

The Packers structured it in a way to have cap flexibility through 2027. The contract gets much heavier in terms of cap hit in 2028, with some projected dead money in 2029. But by that time, Green Bay will presumably have to make a new contract anyway, if Jordan Love is still perceived as the franchise quarterback. Therefore, the details of the deal make the Packers’ long-term plan obvious.

Guarantees

The fully guaranteed part includes the signing bonus, $3.5 million base salary in 2024, and $11.9 million base salary in 2025, and $10.4 million of the 2026 base.

Other rolling guarantees include the rest of the 2026 $49.9 million base salary (which is already guaranteed for injury and gets fully guaranteed on the fifth day of the league year in 2025), plus $20 million of the 2027 base salary (already guaranteed for injury and gets fully guaranteed on the fifth day of the league year in 2026).

Right now, the deal has big base salaries in 2026 and 2027. But according to Mike Florio, big parts of these bases will be converted into option bonuses to spread the cap hit. It means lower cap hits in 2026 and 2027, with some dead money after the deal expires — it's $39.5 million of the $49.9 million base in 2026, and $31.5 million of the $41.9 million base in 2027).

The full signing bonus will be paid in three installments, in 10 days, October, and December of 2024.

^{"The deal also includes $250,000 in Pro Bowl escalators for 2025 through 2028, based on making the Pro Bowl in 2024 through 2027. There’s also a $250,000 Pro Bowl incentive for 2028, pushing the upside to $1.25 million. The four-year, $220 million extension ($55 million per year in new money) combines with the existing $10.5 base salary for 2024, creating a five-year, $230.5 million deal ($46.1 million per year).

The deal has $100.8 million fully guaranteed at signing, with a practical guarantee of $140.3 million. After only two seasons, the full guarantee moves to $160.3 million.”}