Why Packers shouldn't give Jordan Love a contract extension this offseason

It's no secret the Green Bay Packers are looking to sign Jordan Love to a contract extension.

"I think we will go down that road. Certainly, I think that'll be important for our football team to have some stability there," said Packers general manager Brian Gutekunst. "Jordan and his representation, they're really good people, so we will start towards that sometime in the next couple of months."

After finishing the season seventh in passing yards (4,159), second in passing touchdowns (32), 11th in quarterback rating (96.1), and ninth in QBR (62.1), he certainly put himself on the map when it comes to top quarterbacks.

However, it can't be ignored that this is just his first year starting in the NFL, which on one end is amazing that he's already playing at such a high level, but it also means we've only seen one good year of production from him.

Packers are taking a risk by already making Jordan Love one of league's highest-paid QBs

CBS Sports projects that Love's extension could be worth more than $50 million a year. Let's say he even just hits the $50 million mark. Per Over The Cap, Love would earn the fifth-highest average salary of any quarterback in the NFL. Joe Burrow is number one at $55 million a year.

If the Packers are already going to make him one of the highest-paid players, does one more year of great play affect the salary that much? Even if he wins MVP and demands to reset the QB market, Green Bay could up that money closer to $60 million, which isn't too far off from where he's already projected. If he were to play badly, do the Packers want to be on the hook for that much money?

The easiest way to illustrate this is by looking at the New York Giants and Daniel Jones. He earned himself a four-year, $160 million contract in March 2023. Less than a year on, Jones' future in New York is uncertain, putting them into a financial hole that is impossible to get out of.

If the Packers do not want to end up in the same scenario, they should be 100 percent certain Love is the quarterback of the future. That's why Green Bay should wait until next season to give Love that contract extension.

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