Packers may receive extra cap space next year because they have been careful with important topic
The Green Bay Packers gave Jordan Love a huge four-year, $220 million extension back in July. So when Love fell on the field in Brazil in week 1, there were several reasons for the team to be concerned. Gladfully for Green Bay, it was just an MCL sprain, and Love will be back at some […]
The Green Bay Packers gave Jordan Love a huge four-year, $220 million extension back in July. So when Love fell on the field in Brazil in week 1, there were several reasons for the team to be concerned.
Gladfully for Green Bay, it was just an MCL sprain, and Love will be back at some point over the next few weeks. But there are more reasons to be relieved, and the financial component is a big one.
ESPN's reporter Kalyn Kahler wrote an interesting piece about insurance policies for NFL players, and the Packers have used one to protect themselves in the case of a Jordan Love injury.
"Unlike the Jets, the Packers and the Dolphins both have insurance policies on their quarterbacks, who got new contracts this offseason," Kahler wrote. "Green Bay is a longtime insurance customer."
Kahler particularly mentioned the Jets because the team decided not to carry over Aaron Rodgers' insurance policy when they acquired him from the Packers last year — a costly mistake.
More important than the money itself for a non-profit organization like the Packers are the cap savings. If the insurance policy is mentioned on the player's contract, the money the franchise receives from the insurance company is credited back on the team's salary cap in the following season.
The Packers guaranteed $100.8 million to Jordan Love in his last extension, and the insurance policy covers for up to $74.8 million.
Based on his $3.5 million base salary, Jordan Love makes $205k per game. The terms of the Packers' insurance haven't been disclosed, but presumably Green Bay has the option to recoup that money and get that value credited back to them in the 2025 salary cap.
If, for instance, Love ends up missing two games, the Packers could have $400k back in next year's cap — the exact value depends on the terms of the insurance.
Obviously, having Jordan Love back on the field is huge for the team — and that's why the Packers ultimately decided to pay him like one of the top quarterbacks in football. But the injury risk for a player that makes something around 20% of the cap is too big, and having insurance seems like the more prudent decision.
The Jets made a huge mistake right after trading for Aaron Rodgers, and it cost them millions of dollars in cap space
Rodgers got hurt after four snaps in 2023
