The Green Bay Packers made the decision not to pick up Jordan Love’s fifth year option that would have been worth over $20 million. Instead, the two parties agreed to a new contract worth up to $22.5 million. Only $13.5 million of that money is going to be guaranteed. While the decision to offer a new contract instead of picking up the fifth year option may seem confusing to some, it actually makes a great deal of sense for both parties.
The Green Bay Packers Will Not Be on the Hook for $20 Million if Love Does Not Do Well
As Brian Gutekunst said in a recent press conference, $20 million is a lot to commit to a player who has not played very much as of yet. The Packers would have been on the hook for that amount of money had they decided to exercise Love’s option. If he plays well in 2023, that $20 million would have been a bargain. However, if he plays poorly, that $20 million would have been a waste and they would have no way of getting rid of that hit. Fifth year options are fully guaranteed. By offering Love this new deal, they have protected themselves.
What Does Jordan Love Have to Gain from Signing This New Contract?
While the new contract only guarantees $13.5 million in 2024, it also gives Love the opportunity to make more money than his fifth year option was worth. As mentioned previously, he can make up to $22.5 million on this deal in 2024 by playing well. The opportunity to make more is a motivating factor that can push him to succeed even more. At the end of the day, Love gets the fifth year commitment from the Packers, which is what he would have wanted anyway.
It is important to note that this year, 2023, Love will be playing on the “final year” of his rookie contract. As far as we know, this new contract does not influence his salary or cap hit for this season.
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