Packers, QB Jordan Love agrees to one-year extension through 2024, source says: What does this mean for Green Bay

A league source confirmed to The Athletic that Packers players and quarterback Jordan Love have agreed to a one-year contract extension that will keep him at Green Bay through the 2024 season. NFL Network first announced the move. Here’s what you need to know:

According to reports, the two sides chose the fifth year option, instead with a less expensive contract extension. The value of the contract extension is $22.5 million, including $13.5 million fully guaranteed.

The fifth-year option would have cost $20.272 million fully guaranteed for the 2024 season.

Love is expected to be the starting quarterback for the Packers in 2023 after Green Bay traded Aaron Rodgers to the New York Jets. Love, a first-round selection in the 2020 NFL Draft, appeared in 10 games over his three seasons with Green Bay.

Instant Athletic Analysis:

more money for love; Softens cover hit Green Bay

Rather than exercise Love’s option for a fifth year, the Packers signed him to a one-year extension that keeps him under contract with the team through 2024, gives him more money up front and softens the blow on his 2024 cap that would have come with Love’s $20.272 million guaranteed salary. Love was set to earn a guaranteed salary of about $2.3 million in 2023, according to Over The Cap, and now he’s getting a raise (a reported $13.5 million guaranteed in his new deal) before becoming a full-time Green Bay starter. . – Schneidman

Love still needs to prove it

Love will have at least two years to prove he should be the long-term quarterback for the players.