Absent an AR retirement or career ending injury I don't see any way the Packers pick up Love's 5th year option (and probably not even then). I think his 5th year guarantee would be in the area of $22-$25 million.
While I'm not a gambling man, I'd actually put my money down on them not picking up that option. Is that a prop bet anywhere?
The biggest question is, how much would other teams be willing to pay Love, as a free agent? It's difficult saying just how much he'd get. But, the $22-25 mill is not out of the question. It could also be $5-8 mill. We can't be certain. It all pretty much depends on who's available through FA, other than him.
How far will Rodgers go with his game? I think he's playing it one at a time. A bad season, in his eyes, an injury, almost anything, could trigger him to retire. Then again, being in the top 3 or 4 this year in the MVP race might make him feel rejuvenated.
Another thing I believe is pressing him on is Brady. As long as he keeps coming back, Rodgers is probably going to want to play for one season after him. But, that's just conjecture.