Patrick Mahomes Discusses His Salary Amidst Rising NFL Quarterback Contracts.
As quarterback contracts skyrocket across the NFL, Kansas City Chiefs’ star quarterback Patrick Mahomes, a two-time NFL MVP, finds himself in an unexpected position – being considered a bargain.
But Mahomes remains unfazed by this notion.
“It’s great for the game of football,” Mahomes shared with USA TODAY Sports. “It’s great for the quarterback position, but I think it’s great for all positions. Every time there’s a new contract, people look at my average per year (APY) and similar metrics. Personally, I’m doing pretty well.”
Mahomes, earning $45 million annually, is indeed faring well with a deal that secures his future with the Chiefs through 2031. In an era where decade-long contracts are a rarity, Mahomes’ 2020 deal stands out. However, new contracts for quarterbacks like Tua Tagovailoa, Jordan Love, Jared Goff, and Trevor Lawrence have surpassed Mahomes in annual value, with three of these players earning over $10 million more per year than the three-time Super Bowl MVP and two-time consecutive Super Bowl champion.
From a pure financial perspective, this discrepancy might seem puzzling. However, in practice, it’s not as unreasonable. Mahomes appears to be following the path of legendary quarterback Tom Brady, who frequently accepted lower salaries to maintain the Patriots’ salary cap flexibility, thus remaining among the NFL’s elite. Last season, Mahomes restructured his contract to guarantee a record-breaking $210.6 million from 2023 to 2026.
When questioned if he feels underpaid, Mahomes responded, “Not necessarily. We’ve done a great job managing my money, allowing me to earn a substantial amount while keeping a strong team around me. We’ve restructured a few times to increase cash flow at specific points and years. It’s all about maintaining a good dialogue and communication with the front office and ownership. We’ve achieved that here. Because of this, I’ve been able to be well-compensated while also building a great team around me.”
Mahomes and his wife, Brittany, have made significant investments, including in the Kansas City Current of the National Women’s Soccer League and the Alpine F1 team in Formula 1.
Mahomes is also aware that eventually, he will revisit negotiations with the Chiefs to realign his salary with the league’s top earners. He’s not in a rush; instead, he’s focused on maintaining his role as the face of the NFL’s premier franchise.
To do that, Mahomes understands the importance of staying in sync with the Chiefs’ management. So far, it’s working well.
“We do a great job,” Mahomes stated. “When I restructured my contract, moving money around last time, we discussed a certain year to revisit it.
“It’s about having that plan and maintaining constant communication. And we have that here. I’m happy to see other players earning as much as possible. It’s great for the sport. But here, we have a fantastic communication system where I feel we’ve maximized our potential.”
Kansas City is striving for an unprecedented third consecutive Super Bowl title in 2024. They will need all available resources to achieve this, a goal Mahomes is committed to, even if it means sacrificing some personal financial gain.
