Packers can't afford to wait much longer on rumored blockbuster Jordan Love extension

The Green Bay Packers are expected to sign Jordan Love to a historic extension in the coming months. At just 25 years old, Love led Green Bay to the second round of the playoffs in his first season as full-time starter. He managed 4,159 yards, 32 touchdowns, and 11 interceptions — all without missing a game.

There is natural trepidation about dropping the bag after one season, but the Packers' options are limited. Love is entering the final year of his rookie contract fully entrenched as Green Bay's QB of the future. As the NFL salary cap spikes and quarterbacks continue to receive unprecedented financial commitments, there isn't much stopping Love from becoming one of the highest-paid players in league history.

NFL Network's Mike Garafolo expects Love's next contract to land "in [Joe] Burrow territory," citing the five-year, $275 million deal the Bengals gifted their quarterback prior to last season. That is a hefty price for a relatively untested signal-caller, but Love's talent shined on football's biggest stage. With the right tweaks and areas of improvement, this Green Bay team can emerge as a legitimate contender in the NFC.

The Packers need to hurry it up, too. As Adam La Rose of Pro Football Rumors illuminates, the longer Green Bay waits, the more expensive Love becomes.

"This offseason is expected to see a fresh wave of mega-deals at the QB spot. Any or all of Dak Prescott, Trevor Lawrence, and Tua Tagovailoa could ink deals whose value is based on the contracts signed last summer and the historic jump in the salary cap witnessed in 2024. Waiting until after that has taken place could put Love in position to secure more on a deal (this offseason or later) than what the Packers could offer now."

Packers have every incentive to hurry up with Jordan Love's new deal

This is the rare situation where it's mutually beneficial to all involved to get a deal done quickly. Love probably wants to lock in a nice five-year guarantee before he gets a chance to underperform in his highly anticipated follow-up campaign. The Packers, meanwhile, have the inverse concern. Assuming Love doesn't fall off dramatically, his next contract will only to get more expensive as time passes.

Green Bay has picked the right offseason to get gun-shy. Both Dallas and Miami appear hesitant to pull the trigger on contracts befitting their franchise QBs, which could buy the Packers a bit longer to set the market themselves, rather than reacting to deals around the league. That time could vanish at a moment's notice, though. All it takes is a good-faith offer from Jerry Jones or an ambitious move from the Jacksonville front office to reshape the quarterback market and increase Love's leverage in the negotiation process.

There are inherent restrictions that come with spending top dollar on a quarterback, but it's the price of doing business in the NFL these days. Every top-shelf quarterback gets paid big, and those who don't tend to explore free agency and find that money elsewhere. Case and point, Kirk Cousins.

Love would immediately become priority No. 1 one for half the league if the Packers let him off the leash in a rabid free agent market. There are additional levers Green Bay can pull provided Love's age and contract status, but he's a bona fide franchise quarterback. It's time for the Packers to pay him as such. There's not much to be gained by waiting around and dragging this process out.