Only one athlete can own the biggest contract in American sports history — Boardroom takes a look at the details of the Chiefs’ colossal Patrick Mahomes contract.
Very few players have ever experienced NFL success as quickly as Kansas City Chiefs quarterback Patrick Mahomes. In five seasons, including the last four as a starter, Mahomes has played in the AFC Championship every year, advancing to the Super Bowl twice and winning once.
At 26, Mahomes is already one of the best quarterbacks in the NFL — which is why the Chiefs chose to reward him in 2020 with a record-setting extension: a 10-year, $450 million contract that officially kicks in starting with the upcoming season and lasts through the 2031 campaign.
Mahomes has proven an ability to play the QB position in ways that no one else can — or perhaps ever has — and as a result, the Chiefs naturally have absolutely zero interest in watching him wear any other uniform. With that in mind, let’s dive into the details of KC’s groundbreaking Patrick Mahomes contract.
Click here to read Boardroom’s overview of the highest-paid quarterbacks in the NFL.
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Patrick Mahomes Contract Details & Salary
All dollar figures via Spotrac.
Years: 10
Total value: $450,000,000
Average annual value: $45,000,000
Guaranteed at signing: $63,081,905
Total guaranteed money: $141,481,905
Free agency: 2032
NOTE: The max value of Mahomes’ extension was first reported as $503 million, but reaching that number would require satisfying several incentives every year that are considered unlikely, including winning the AFC title and NFL MVP.
Annual contract extension earnings:
2022: $35,793,381
2023: $46,793,381
2024: $44,293,381
2025: $46,293,381
2026: $41,950,000
2027: $59,950,000
2028: $44,450,000
2029: $44,950,000
2030: $50,450,000
2031: $52,450,000
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This deal keeps Mahomes under contract through his age-36 season, and given his highly productive career so far and the fact that other elite quarterbacks like Tom Brady and Aaron Rodgers are at or near the peak of their games into their late 30s and even 40s, the Chiefs have little reason to believe they won’t ultimately get their money’s worth.
That said, there are two interesting questions the franchise will need to contend with:
- First, can the Kansas City Chiefs continue to form a contending roster around him as his cap hit of over $35 million next season and no less than $44 million for the remaining nine years of the deal?
- Will the salary cap continue to increase enough for the Chiefs to have the flexibility they need to remain Super Bowl contenders? The contract has a no-trade clause, robust guarantees, and roster bonuses nearly every year, so the KC front office will sincerely hope that league revenues continue to drive the cap skyward.
Patrick Mahomes’ Career Earnings
CAREER BASE SALARY: $3,480,000
CAREER BONUSES/INCENTIVES: $43,974,472
NFL SALARY EARNINGS THRU 2021: $47,454,472
ESTIMATED SALARY EARNINGS THRU 2032 SEASON: $491,454,472
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