The Kansas City Chiefs quarterback Patrick Mahomes prolonged his “loyalty” to the new NFL champions for as much as 10 years, which definitely broke all records from the financial aspect of the contract not only in the NFL but in professional sports in general.
Mahomes led the Chiefs to win the Super Bowl, the first in half a century, and even then it was clear that negotiations on a new contract would follow. The team based in Kansas City wanted to postpone the act of renewal until next year, in order to make room in the salary cap this year in order to keep the entire championship team together. The face of the franchise met their demands and in return, he got an incredible contract. Therefore, the new contract will officially run from 2022.
The man who became the MVP of the regular season in the first full season as a starter, and then came to the title along with the MVP recognition at the Super Bowl, became the first active player with a 10-year contract. The financial details were made official soon afterward, so we’re talking now about the total value of the contract of $ 450 million. That means $ 45 million per season, which is an unprecedented record amount. If Mahomes hits all the incentives and bonuses, he can earn more than half a billion dollars in total. More precisely $ 503m!
Mahomes’ Deal vs Other Deals of NFL Players
However, this isn’t the only 10-year contract in this century in the NFL, since such was signed by Michael Vick. He penned a 10-year deal worth $130m with the Atlanta Falcons in 2005. In fact, Mahomes’ contract is just the third contract in league history to last more than six years but it can’t compare to any other agreement in history, both in terms of salary and the length.
By this, Mahomes has smashed records, not just in the NFL, but in all of the sports. The record for NFL’s biggest contract that a 24-year-old athlete broke this summer was Matt Ryan’s. The Atlanta Falcons quarterback had the league’s biggest contract, which was worth $150m and spread over five years. Mahomes also broke the average annual salary in the NFL history, held by the Seattle Seahawks quarterback Russell Wilson who signed a four-year deal, a $140m extension last year.
Mahomes’ Earnings Broke Records Across All Sports
We said that Mahomes’ new contract with the Chiefs went down in history not only in the NFL but in the entire world of sports. Let’s back it up…
The closest to huge deals such as Mahomes’ was the one of the MLB star Mike Trout. He’s deal is the biggest in the history of the league as he signed with the Los Angeles Angels in 2019 for a $427m spread over 12 years, at an average of $35.5m per season. There’s an example of a former MLB first baseman Albert Pujols. He tops the earning charts with a total of $309.2m, but across 21 seasons.
We can also set comparison with the NBA, which has seen plenty of huge deals handed out in the last decade or so. The Los Angeles Lakers superstar LeBron James has made $306.9m in 17 years in the league.
They are all out-earned by Mahomes. Even if we put aside all possible bonuses embedded into his contract, his deal has the potential to put him more than $100m ahead of all those players by the time he’s 36. And for a quarterback, this can be considered a young age.
Still, given the way NFL teams operate, there’s a good chance that Mahomes will never wait to see the end of this contract, meaning he might not make the potential earning of half a billion dollars. What’s currently guaranteed for him is “only” $141.5m, and the Chiefs can release him without penalty at the end of the 2024 season.