Jordan Love’s low 2024 salary will make it easier to set new high-water mark

Because the Packers and quarterback Jordan Love presumably shut in on a brand new contract, there’s a rising perception that he’ll turn into the most recent highest-paid participant in NFL historical past — till the following one.

Love’s present wage makes that quite a bit simpler to do.

It’s the previous cash/new cash dynamic. If Love shall be attending to $56 million per yr by means of a five-year, $280 million extension (or, possibly, $55.1 million on a $275.5 million deal), it could really be a six-year take care of solely $10.5 million in “previous cash” added to the “new cash” and making a contemporary long-term deal.

At $56 million per yr in new cash, it could be a six-year, $291 million contract. It will have a complete common from signing of $48.5 million. At $55.1 million per yr in new cash, it could be six years and $286 million. The typical payout can be $47.6 million from signing.

That’s the important thing level to recollect when new mega-quarterback offers are stapled onto contracts with a number of years left. There aren’t any extensions within the NFL. The previous contract will get torn up, and it will get changed with a brand new one. The decrease the remaining money on the previous deal, the better it’s to pump up a new-money common that permits the participant to grab, normally quickly, the crown of richest contract ever.

Once more, what issues would be the escape hatch for the Packers. What number of years will the assured cash and/or the cap penalties tie the 2 sides collectively? At one finish, there’s the Deshaun Watson deal, which binds the Browns and Watson for 5, fully-guaranteed seasons. On the different finish, it’s the Derek Carr extension from two years in the past in Las Vegas. The one which was heralded as being price greater than $40 million per yr for 3 years, along with the one yr he had left.

And he actually had one yr left.

The contract gave the Raiders an out after one season, and the Raiders took it.

For Love, the new-money common shall be one issue. And it gained’t actually be all that vital. What is going to matter is the total assure at signing, the rolling ensures after yr one and two, the cap prices and accelerations if he’s traded or launched.

The cash shall be a given. What is going to in the end matter is whether or not the Packers are dedicated to Love for one yr (Derek Carr, Geno Smith), two years (Daniel Jones, Russell Wilson), three years, or longer.

Our guess is that it is going to be three. However who is aware of? If it was as straightforward as I’m making it appear, it could already be completed.

It apparently shall be quickly. Till it’s, coach Matt LaFleur will certainly be reminding the entrance workplace that it’s exhausting to get the first-string offense able to face the Eagles in Brazil with (checks notes and confirms spelling) Sean Clifford as QB1 and (checks notes and confirms he’s not a randomly generated Madden participant) Michael Pratt because the backup.