There are now three highest-paid players in league history. Packers quarterback Jordan Love is one of them.
The four-year deal has a new-money average of $55 million per year. We’ve gotten our hands on the full five-year contract.
Here’s the full breakdown:
1. Signing bonus: $75 million, with $25 million paid within 10 days, $25 million paid by October 4, 2024, and $25 million paid by December 27, 2024.
2. 2024 base salary: $3.5 million, fully guaranteed.
3. 2025 workout bonus: $500,000.
4. 2025 base salary: $11.9 million, fully guaranteed.
5. 2025 per-game roster bonus: $600,000 total.
6. 2026 workout bonus: $500,000.
7. 2026 base salary: $49.9 million, guaranteed for injury at signing; of that amount, $10.4 million is fully guaranteed at signing and $39.5 million becomes fully guaranteed on the fifth day of the 2025 league year. ($39.5 million will convert to an option bonus in 2026.)
8. 2026 per-game roster bonus: $600,000 total.
9. 2027 workout bonus: $500,000.
10. 2027 base salary: $41.9 million, $20 million of which is guaranteed for injury at signing and becomes fully guaranteed on the fifth day of the 2026 league year. ($31.5 million will convert to an option bonus in 2027.)
11. 2027 per-game roster bonus: $600,000 total.
12. 2028 workout bonus: $500,000.
13. 2028 base salary: $43.9 million.
14. 2028 per-game roster bonus: $600,000 total.
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.
The contract binds the Packers to Love for three years. If they’d release him after the 2026 season, they’d be saddled with $20 million in guaranteed salary for 2027, subject to offset.
When it comes to evaluating contracts, money becomes a major factor. Duration is becoming more important, too.
Teams prefer longer-term contracts, giving them the benefit of controlling a player’s rights (if they choose to do so) well beyond the guaranteed years of the deal, typically one or two or three seasons.
For players with one year left on their contracts, teams usually want a five-year extension, giving them six years of dibs. It delays the moment at which the player would be able to get to market and/or force an extension. For both Dolphins quarterback Tua Tagovailoa and Packers quarterback Jordan Love, the goal for the players was to keep the extension to four years.
Both succeeded. Aiding the effort was the fact that they were represented by the same firm, Athletes First. On behalf of Tua and Love, the agency maximized the bargaining power and leverage, getting each team to agree to four years, not five, as the number of new years.
The agents surely coordinated the approach. They might have told the Dolphins that the Packers are doing four years with Love, and they could have told the Packers that the Dolphins are doing four years with Tua. If that’s how it went, it worked.
It’s another reason why agents should work together when negotiating deals — even when those agents work for different firms. It’s about setting aside competition and ego and getting the best outcome for the players.
Teams aren’t allowed to collude when it comes to contracts, but they often do. Players are, but they usually don’t. The Love and Tua deals show how working together can help both players, getting both of them four-year extensions and, in turn, getting both to the market before turning 31.
Last month, we took a look at the candidates to be the first player to reach $60 million per year in new-money average.
This week, three names exited the list.
Matthew Stafford, Tua Tagovailoa, and Jordan Love resolved their contract issues. The highest-paid of the trio — Love — fell $5 million short.
So who’s next to get paid, and will he become The Six Million Dollar Man, times ten?
The most obvious candidate continues to be Cowboys quarterback Dak Prescott. The Cowboys have no way of keeping him from the open market in 2025. Prescott has no qualms about holding firm for what he wants. The question remains whether Jerry Jones, who constantly praises Prescott when the audience consists of those who would buy tickets to games, has to decide whether to put his money where his mouth is, when it comes to the player.
49ers quarterback Brock Purdy becomes eligible for a new contract after the 2024 regular season ends. While he could get to $55.1 million (leapfrogging a three-year tie at $55 million), $60 million will be a bridge too far — even if he wins a Super Bowl this year.
Texans quarterback C.J. Stroud is two seasons away from eligibility for a new deal. Given that none of this year’s new deals have beaten the high-water mark set by Bengals quarterback Joe Burrow last year, it very well could be that no one will get to $60 million before Stroud signs his second deal.
Then we have the guys who have already gotten paid who might be closing in on another bite at the apple — Chiefs quarterback Patrick Mahomes, Bills quarterback Josh Allen, Ravens quarterback Lamar Jackson. Mahomes, at $45 million per year, received a bump in his cash flow last year. He’ll likely get another before he signs a new contract, given that it runs into the next decade. Allen, as previously mentioned, is due to get paid again.
And Jackson, who should have had his second contract two years earlier than he got it, might be thinking about accelerating the timetable for his third, especially since the two-time league MVP has now seen six quarterbacks jump his $52 million per year. And, between them, Chargers quarterback Justin Herbert ($52.5 million), Lions quarterback Jared Goff ($53 million), Dolphins quarterback Tua Tagovailoa ($53.1 million), and Burrow, Jaguars quarterback Trevor Lawrence, and Packers quarterback Jordan Love ($55 million), have zero NFL MVP wins.
So who’s next? And who gets to $60 million first? Prescott or Purdy will be next. Prescott or Stroud are likely to get to $60 million — unless Mahomes, Allen, or Jackson successfully force the issue.
Jordan Love waited his turn, played very well, and now he’s gotten paid.
According to multiple reports, Love has agreed to a four-year extension with the Packers that will make him the highest-paid quarterback in league history.
The initial numbers indicate Love’s deal is worth $220 million, working out to an average annual value of $55 million per year. Love is also set to receive a $75 million signing bonus.
ESPN’s Adam Schefter reports Love will get $155 million in new, full guarantees.
Love, 25, was selected with the No. 26 overall pick in 2020. He was Green Bay’s third quarterback as a rookie before serving as Aaron Rodgers’ backup in 2021 and 2022.
He finally took over as the starter in 2023 and excelled down the stretch to propel the Packers to the postseason. Love ended 2023 having completed 64 percent of his throws for 4,159 yards with 32 touchdowns and 11 interceptions — good for a 96.1 passer rating. But in his last eight games, Love completed 70 percent of his throws for 2,150 yards with 18 touchdowns and just one interception, which works out to a 112.7 rating.
He then threw for 272 yards with three touchdowns to help Green Bay defeat Dallas in the wild card round before falling to San Francisco in the divisional round.
Love had been sitting out of training camp practices while his representation and the Packers finished negotiating his deal. Now, Love’s new contract is complete — hours after fellow 2020 first-round pick Tua Tagovailoa agreed to a contract extension with the Dolphins.
Packers quarterback Jordan Love was closing in on a new deal. Before his could be finalized, the Dolphins worked out a contract with quarterback Tua Tagovailoa.
It wasn’t a coincidence.
Both are represented by Athletes First. Once the Dolphins caught wind of what Love is going to get (and he’s likely to get it soon), they decided they’d better get Tua paid.
That’s the value that comes from agents working together. Here, it was easy because the same firm represents both players. It’s always in the interests of players for their agents to work together to put maximum pressure on teams.
Bottom line? Look for Love to be done sooner than later. Look for him to get more than Tua’s $53.1 million per year in new money.
And then we’ll start taking a look at other guys who might be thinking it’s overdue for them to get an adjusted contract that reflects the recent changes to the market.