The Chiefs did well to lock down Patrick Mahomes to a contract that does not expire until March 2032. While the summer 2020 extension gave Mahomes a $10MM AAV advantage on his peers, the field caught up less than two years after the deal was finalized.
With Jalen Hurts and Lamar Jackson moving past the $50MM-per-year barrier on long-term deals in April, Mahomes’ $45MM-AAV pact has fallen to seventh at the position. Accomplishment-wise, Mahomes laps his 20-something peers but has nine seasons left on an extension that has not blazed a trail for others. His rivals have surpassed his average salary and have done so on traditional QB accords.
Chiefs GM Brett Veach said the team would look into Mahomes’ deal after other QB pacts became finalized. This year’s crop is only halfway there, as Joe Burrow and Justin Herbert remain tied to their rookie contracts. But the Chiefs may be looking to avoid a potential standoff down the road. Mahomes should be expected to enter the 2023 season as the league’s highest-paid QB again, per Mike Florio of Pro Football Talk.
Kansas City probably should not be expected to relinquish the control (and roster-building advantages) the 2020 extension provided, making a scenario in which the team tears up the through-2031 contract in favor of a traditional — and more player-friendly — structure unlikely. Florio suggests tacking on three years and $156MM to the deal, one that is already north of $450MM in total value due to its length and Mahomes having begun to cash in on incentives. That type of bump would move Mahomes past Jackson’s $52MM-per-year average. A new agreement of any sort would undoubtedly require a guarantee adjustment as well, with the Hurts and Jackson deals serving as relevant source material. But this will be an unusual renegotiation, given the time left on Mahomes’ current pact.
Mahomes, 27, is not believed to have made a push for an adjustment that puts him on par with his peers. But the 2017 first-round pick changed the Chiefs’ trajectory to the point they have won two Super Bowls and appeared in three during his five-year starter tenure. Prior to their Mahomes-led Super Bowl LIV title, the Chiefs had gone 50 years without a Super Bowl berth. His two MVPs are more than any active QB except Aaron Rodgers, who began his starter tenure 10 years before Mahomes. The Texas Tech product’s two Super Bowl MVP honors lead all active NFLers. The Chiefs taking a hardline approach with their transformative player would not exactly be a good look. That said, Mahomes did agree to a 10-year extension. An adjustment so early would be a precedent-breaking transaction. It would also be very interesting if Mahomes lobbies for a shorter-term deal during a renegotiation of sorts.
Only $63.1MM came fully guaranteed in Mahomes’ 2020 deal. Deshaun Watson‘s Browns pact — one the NFL has successfully tabbed an outlier — includes $230MM locked in. Jackson passed Russell Wilson for second in fully guaranteed money by securing $135MM from the Ravens last month. The Chiefs did include guarantee mechanisms that protect Mahomes, giving him year-out security. His 2024 roster bonus ($34.9MM) became guaranteed March 17 of this year; this cycle repeats in the years to follow. But the market has changed considerably since the parties finalized the QB’s second contract.
Kansas City also has a new Chris Jones extension to construct, in all likelihood, with the team’s top pass rusher entering the final season of his four-year, $80MM deal. Mahomes’ unorthodox extension helped the Chiefs extend Jones the first time, though the organization passed on a third Tyreek Hill contract last year.
Should the Chiefs indeed proceed down this path with Mahomes so early in his current deal, it will be one of the most interesting contractual processes in recent NFL history. With Burrow potentially set to take the market to $55MM per year, the Chiefs would have a unique task to complete in the coming months.
Why do anything? He’s got 9 years left and sounds like he’s okay with it
I think this is less of an issue with Mahomes than the players’ association. The PA is always pushing for higher salaries and with his success they have a better case than with the other QB1’s .
The PA can’t make a guy sign a new contract
Bc that stupid little brother of his needs more $$$
I wouldn’t get in too big a rush to increase your cap costs.
When are players going to stop with this constant cycle of envy? And when are the media going to stop pushing this sick game? It says volumes about the participants values…..
Media? Owners pay the salaries. Agents do the bidding. Media reports on it and talks possibilities. No different than sports talk radio.
When are you going to stop commenting without reading the story?
“Mahomes is NOT believed to have made a push for an adjustment that puts him on par with his peers.”
Maybe your 17 booster shots are affecting your reading comprehension?
OK, that was funny ☺
Haven’t you heard? It’s not about the money. It’s about respect. Put another way, it’s about the money
The smart QBs structure their deals where their team can afford to keep their other big talents.
I think Mahomes is smart, he night got the big money deal, but pay close attention to how it is structured. I think he’ll do it where KC can bend the rules to allow themselves flexibility..
So you’re saying he’s smart for not seeking an extra $10M per year in his contract so the team can sign others. As in you’d forfeit an increase in order to get additional help at work? A substantial forfeited increase?
The smart organizations keep their generational, SB-winning QB’s happy whether the player asks for it or not. Both Mahomes and the organization see the value in keeping each other happy.
Just have the NFL refs do his negotiations, then all rules won’t apply to the Chosen One and he’ll be the King of the salary cap.
Soon enough QBs will be making $100 million per year.
So are they going to go through this exercise every season? The market won’t come down anytime soon if ever.
Man, NFL contracts are a joke!
NFL contracts are slightly different than in other sports … the overall number is usually never realistic.
Mahomes contract will definitely get revised over time because they are able to have the flexibility in regard to revise it dependent on their team needs (pushing back the cap hits, etc.).
I predict that they’ll revise his contract every few years, and place more money that is guaranteed to give them more cap flexibility going forward. Sort of like having a home loan and borrowing against it when in need.
It seems like KC wants Mahomes to be highest paid. KC will have to continue to find cheap draft picks to keep him paid so highly
Even talking about increasing Mahomes yearly cap is utter foolishness for both sides. KC desperately needs all the salary cap space they can get to field a playoff-ready team. Mahomes can make back the small change he’s leaving on the field 10x over in endorsements, if he stays in KC and he’s known for playing football and being a good guy, rather than endless contract hassles. Lamar Jackson is mostly toxic at this point for endorsements as it’s been nothing but negative press around him. Aaron Rodgers is probably less in demand than he was, now that he’s known more for fighting with
Packers management and exiting in the first round of the playoffs, than for playoff wins and MVP seasons. Rodgers can still recover his endorsement value with a big year in NYC. Not sure Jackson will ever get back to where he is (unless he becomes a lot more multidimensional QB, wins some playoff games).
It’s similar to TB12’s situation in New England. Good for the team, good for the player, good for the city.
I understand the Players Association where they want the next class to get more but at one point, the owners are stupid to fall into the trap.
The issue is having middle of the pack QBs making x2 or even x3 as the best receivers or running backs, when they have no winning records. How many 10M/year DL, WR, OL or DB will be cut as cap casualties to allow a guy like Daniel Jones to make 40M/year? Also, fully guaranteed contract to Deshaun Watson is just a joke.
With the amount of top talent in the AFC, there will be a lot of QBs that will use 40M on the cap space and never make the playoffs.
It is good for the players but not for the sport.
If Mahomes is smart, he will just leave his salary alone. He doesn’t need to be the highest paid player….everyone already knows he is the best QB. Leave that extra money for the team to pay whatever players they need to continue winning AFC Championships and SuperBowls!!!