The Green Bay Packers aren’t pulling the “Fifth-Year Option” on quarterback Jordan Love – instead, they’re outfitting him early with a one-year contract that’s good for the season after next.

The Green Bay Packers and Jordan Love have agreed on a contract extension. The 24-year-old will receive a one-year deal when his rookie contract expires.

Under that contract, Love can earn up to $22.5 million ($13.5 million of which is guaranteed). After the 2024/25 season, as of today, he will be a free agent and is expected to negotiate a new deal with all teams.

What’s curious about the extension is that the Packers opted against pulling the “fifth-year option.” This allows franchises to keep players picked in the 1st round of the 2020 NFL Draft on a pre-determined one-year contract. Nearly $20 million guaranteed would have gone to Love via the “Fifth-Year Option. “

Love extension a win-win situation?

However, the Packers had good reason to pass up the option. “We believe in him, but it’s a lot of money for a player who hasn’t gotten much playing time,” Packers general manager Brian Gutekunst said in a press conference a few days ago.

In the last three years, Love appeared in ten games, posting his only start to date in 2021. With the departure of quarterback Aaron Rodgers, a clear path to more playing time now opens up.

At the same time, the Packers retain a bit more wiggle room with the one-year deal, as the guaranteed amount is lower than the “fifth-year option.” So if Love doesn’t perform up to expectations in the upcoming season, a separation would be easier to stomach from a financial standpoint in the wake of the upcoming season.

Should he perform well, however, Love may even earn more than the option guarantees him. In any case, if Love performs strongly next season, he should be back at the negotiating table as early as next year, working toward a long-term extension.