With Aaron Rodgers expected to get traded to the New York Jets in the near future, Jordan Love will become the Green Bay Packers‘ starting quarterback.
The Packers now have another decision to make.
Should they exercise Love’s fifth-year option?
Love enters year four this season. As a first-round pick in 2020, the Packers have the choice to pick up his fifth-year option.
If they do, it will add a fifth year to his contract, meaning he won’t become a free agent until after the 2024 season. By declining it, Love’s contract would expire next offseason.
When do Packers have to make fifth-year option decision by?
According to NFL.com, the deadline to make a decision on the fifth-year option is May 1. That gives Green Bay a little over a month to decide.
There are pros and cons to either choice.
By picking up Love’s fifth-year option, the Packers would be giving themselves two seasons to evaluate his play. By then, they will know whether they believe he can be their long-term starter.
It would also show confidence in Love.
However, there is another way to look at it.
The fifth-year option is fully guaranteed. If Love struggled in 2023 and the Packers wanted to make a change at quarterback, they would still have to pay Love in 2024. Over The Cap projects that the Packers would have to pay Love $20.27 million.
If Green Bay declined the option and then Love had a great 2023 season, the team could offer him a long-term extension or, in a worst-case scenario, use the franchise tag next offseason.
Declining the option may be the best choice. Green Bay would get a year to evaluate Love. If he plays well, work out a long-term extension or use the franchise tag. If not, they can move on next offseason.
The other argument is that picking up the option shows confidence in their young quarterback, while giving them more time to make a long-term decision.
Either way, we will know by May 1.