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Packers sign Jordan Love to one-year extension worth up to $22.5 million

Packers give QB Jordan Love a bridge deal into 2024.

Green Bay Packers quarterback Jordan Love (10) passes the ball against the Minnesota Vikings on Sunday, January 1, 2023, at Lambeau Field in Green Bay, Wis. The Packers won the game. Tork Mason / USA TODAY NETWORK

The Green Bay Packers have negotiated a one-year extension with quarterback Jordan Love, per Tom Pelissero. The deal comes as the team needed to exercise Love’s fifth-year option, but instead they worked out a deal that can be worth up to $22.5 million, including $13.5 million guaranteed. This isn’t a huge pay increase on what the option would have paid, but it is an increase of a couple million if Love can reach all of the escalators.

Love is the undisputed starter going into the 2023 season, as Aaron Rodgers was traded to the New York Jets and the Packers have no quarterbacks you can say are in any competition with Love. The Packers also didn’t want to guarantee Love the $20-plus million that the option gave him without more assurances that he’ll work out.

NFL Network’s Andrew Siciliano breaks down the thinking here:

The Packers aren’t locked into Love long-term just yet, but this sets them up to give Love a bigger extension if he works out, while allowing them to trade or release him without a huge financial burden as they assess his performance.