Mahomes isn’t unhappy with his contract despite lagging behind other players
THE Kansas City Chiefs are reportedly in ‘constant’ conversation with Patrick Mahomes.
The Chiefs quarterback became the highest-paid player in NFL history in 2020, but has since been surpassed.
The Kansas City Chiefs are maintaining an open line of communication with their star quarterback, Patrick Mahomes, to ensure he remains satisfied with his landmark $450 million contract. Signed in 2020, the 10-year deal made Mahomes the highest-paid player in NFL history at the time. However, with the rapid escalation of quarterback salaries across the league, Mahomes’ average annual value (AAV) of $45 million now ranks tied for 14th among NFL quarterbacks, prompting ongoing discussions to keep him adequately compensated.
A Historic Contract Now Outpaced
In 2020, Mahomes’ 10-year, $450 million contract extension with the Chiefs set a new benchmark in professional sports, described as the richest contract in history at the time. The deal included $141.48 million in guarantees and was structured to provide flexibility for both the player and the team. However, the NFL quarterback market has since evolved dramatically. For instance, Dallas Cowboys quarterback Dak Prescott signed a four-year, $240 million deal in 2024, averaging $60 million per season—$15 million more annually than Mahomes. Other quarterbacks, including Deshaun Watson, Kyler Murray, Brock Purdy, and Tua Tagovailoa, also now earn more per season than Mahomes. Despite this, Mahomes remains unfazed, focusing on team success over chasing the highest salary.
Chiefs’ Proactive Approach
According to NFL insider James Palmer, the Chiefs are in “constant contact” with Mahomes to ensure he is content with his contract situation. “The Chiefs have done a really good job of staying in constant contact with Mahomes and making sure he’s happy with where things stand with his contract,” Palmer noted. The length of Mahomes’ deal provides significant flexibility, allowing the Chiefs to adjust terms to maintain his compensation at a competitive level. This ongoing dialogue reflects the strong relationship between Mahomes and the Chiefs’ front office, a dynamic that has been key to the team’s sustained success.
In 2023, the Chiefs and Mahomes restructured his contract to guarantee $210.6 million between 2023 and 2026, setting a record for the most money in a four-year span in NFL history. This restructuring, which could reach $218.1 million with escalators, demonstrates the team’s commitment to keeping Mahomes financially secure while providing cap space to build a competitive roster. The Chiefs plan to revisit the contract again after the 2026 season, ensuring Mahomes remains one of the league’s top earners.
Mahomes’ Focus on Legacy
Mahomes has consistently emphasized legacy and winning over financial gain, drawing inspiration from NFL legend Tom Brady. “I’ve looked at Tom’s model and how he did it,” Mahomes said in a 2023 interview with Sports Illustrated. He prioritizes building a championship-caliber team around him, even if it means taking a “discount” compared to the market’s top quarterback contracts. This approach has paid dividends, as Mahomes has led the Chiefs to seven consecutive AFC Championship Games, five Super Bowl appearances, and three Super Bowl victories since becoming the starting quarterback in 2018. His three Super Bowl MVP awards further cement his status as one of the greatest quarterbacks in NFL history.
Fans on social media have praised Mahomes’ team-first mentality. One fan posted on X, “He literally doesn’t care. He knows he is making a lot and wants to win,” while another noted, “He has created generational wealth far beyond his football contract value. He’s not concerned with being the highest-paid QB.” This sentiment underscores Mahomes’ focus on championships over chasing every dollar, a mindset that aligns with his goal of building a lasting legacy.
Strategic Roster Moves
The Chiefs’ ability to maintain a competitive roster around Mahomes is partly due to his contract’s flexibility. In March 2024, Mahomes restructured his deal to free up $21.6 million in cap space, enabling the team to make key signings and trades. For example, the Chiefs re-signed wide receiver Marquise “Hollywood” Brown to a one-year, $11 million deal and made offensive guard Trey Smith the highest-paid in the NFL. They also signed running back Elijah Mitchell and retained tight end Travis Kelce, despite retirement rumors, to bolster Mahomes’ offensive weapons. These moves reflect the Chiefs’ strategy to surround Mahomes with talent to pursue a historic third consecutive Super Bowl title, a feat no NFL team has achieved in the modern era.
However, the Chiefs face challenges with 18 players, including key receivers like DeAndre Hopkins and Mecole Hardman, set to hit free agency in 2025. The team has been linked to Seattle Seahawks star DK Metcalf, whose $61 million contract could make him a trade target to add firepower for Mahomes. Such moves would likely require further contract adjustments, highlighting the importance of Mahomes’ willingness to work with the team to manage the salary cap.
Looking Ahead
With seven years remaining on his contract, Mahomes and the Chiefs have ample time to navigate the evolving NFL financial landscape. His current deal, while no longer the highest in annual value, remains the largest in total value in NFL history. Analysts suggest that if Mahomes were to hit the open market today, his annual salary could exceed $80 million, reflecting his value as a three-time Super Bowl MVP and the consensus best quarterback in the league. However, Mahomes’ off-field earnings, including endorsements and investments in teams like the Kansas City Royals and Kansas City Current, provide financial security that allows him to prioritize team success.
As the Chiefs prepare for the 2025 season, their focus remains on rebounding from their Super Bowl LIX loss to the Philadelphia Eagles. Mahomes’ leadership, both on and off the field, will be crucial as the team aims to make history with a third straight Super Bowl appearance. His ongoing collaboration with the Chiefs’ front office ensures that he will continue to be “continuously compensated” while maintaining the flexibility to build a championship roster. With Mahomes at the helm, the Chiefs remain a formidable force in the NFL, driven by a shared commitment to excellence and a quarterback who values rings over riches.