Green Bay Packers general manager Brian Gutekunst confirmed that quarterback Jordan Love is holding out until he secures a new contract. Gutekunst expressed optimism, saying, “I feel we’re close” regarding the ongoing negotiations.

Love is set to earn a $10.5 million base salary with a $12.8 million cap hit for the 2024 season, which seems like a bargain considering how he finished last year. In his final 10 regular-season starts, Love threw for 2,667 yards, 21 touchdowns, and three interceptions. He then dominated the Dallas Cowboys in the Wild Card Round with 272 yards and three touchdowns.

The one-year extension Love signed was a compromise for both sides. It gave the player some financial security after Gutekunst had questioned whether to exercise his fifth-year option. For the Packers, it provided another season with Love at a relatively low cost.

However, the Packers are now facing the downside of paying Love a below-market salary. Mike Florio of Pro Football Talk reported that the Packers are currently holding the key to resolving the contract situation. While money is the main sticking point, the deal includes many elements.

A resolution seems inevitable, as neither side can afford for the standoff to continue. The Packers view Love as their long-term quarterback and want to avoid the risk of having to start over after a smooth transition from Aaron Rodgers to Love. Meanwhile, Love will need to report to camp eventually to avoid missing out on game checks.

Given Gutekunst’s positive outlook, it seems the two sides are not far from reaching an agreement.