Patrick Mahomes is not just a name synonymous with Super Bowl victories and incredible on-field talent; he’s also a top earner in the NFL. As the Kansas City Chiefs quarterback continues to dominate the league, fans and analysts alike are keenly interested in understanding the financial details behind his success. While Mahomes inked what was once the largest contract in sports history, the specifics of how much money Patrick Mahomes makes are nuanced and worth exploring.
Patrick Mahomes young fan reaction to game tickets
Decoding Patrick Mahomes’s Contract with the Chiefs
In 2020, fresh off his Super Bowl LIV MVP win, Patrick Mahomes signed a groundbreaking 10-year contract extension with the Kansas City Chiefs. This deal, initially valued at a staggering $450 million, was set to keep him in Kansas City through the 2031 season. At the time, it was hailed as the richest contract in American sports history, briefly eclipsing even Mike Trout’s massive baseball contract. In total potential value with incentives, the contract could reach up to $503 million. While Shohei Ohtani has since surpassed this total value with his contract with the Los Angeles Dodgers, Mahomes’ deal remains a landmark in NFL contracts.
However, the headline-grabbing total value doesn’t fully explain how much money Patrick Mahomes actually makes on a year-to-year basis. Of the initial $450 million, $141.5 million was guaranteed. This guaranteed portion is a critical aspect of NFL contracts, representing the money a player is assured to receive regardless of performance or unforeseen circumstances.
Contract Restructure and Annual Earnings
To further understand how much money Patrick Mahomes makes, it’s essential to look at the contract restructure that occurred in September 2023. The Chiefs strategically front-loaded Mahomes’ contract between 2023 and 2026. This move increased the guaranteed money during this period, ensuring Mahomes would receive $210.6 million over these four years. This translates to an average annual value (AAV) of approximately $52.7 million during this crucial phase of his contract, all of which is fully guaranteed.
This restructured deal gives a clearer picture of how much money Patrick Mahomes makes in the immediate future. While the total contract is spread over a decade, his earnings are concentrated in these early years, reflecting his peak performance and value to the team.
Incentives and Performance Bonuses
Beyond the base salary and guaranteed money, how much money Patrick Mahomes can make is also influenced by performance-based incentives. His contract includes escalators that reward continued success. For each additional MVP award and Conference Championship appearance, Mahomes earns an extra $1.25 million. Furthermore, another $1.25 million bonus is triggered by a Super Bowl victory, provided he plays at least 50% of the snaps in the regular season or the Super Bowl. These incentives demonstrate that how much money Patrick Mahomes ultimately makes can increase significantly with sustained high-level performance and team success.
Patrick Mahomes’s Salary Compared to the NFL’s Highest Paid
Despite the massive figures associated with his contract, Patrick Mahomes is not currently the highest-paid player in the NFL in terms of average annual value. That distinction belongs to Dallas Cowboys quarterback Dak Prescott. Prescott’s recent four-year, $240 million contract sets a new benchmark with an AAV of $60 million per year.
While Mahomes’s original contract was record-setting in total value, his initial AAV was lower than some other top quarterbacks. However, with the restructured contract and the “real” or “current” AAV of around $52.7 million over the next four years, Mahomes’ earnings are now more closely aligned with the top tier of NFL quarterbacks. This AAV places him in the ballpark of players like Justin Herbert ($52.5 million AAV) and Jared Goff ($53 million AAV), illustrating how much money Patrick Mahomes makes relative to his contemporaries.
The Chiefs and Mahomes strategically structured the deal with the understanding that renegotiation could occur after the 2026 season. This foresight allows both sides to revisit the contract as the quarterback market evolves and Mahomes’s career progresses. Therefore, while we have a clear picture of how much money Patrick Mahomes makes now and in the near future, his earning potential remains dynamic and subject to future adjustments.
In conclusion, how much money Patrick Mahomes makes is a complex question with a multifaceted answer. While his total contract value is enormous, his current annual earnings are closer to $52.7 million, placing him among the top-paid NFL players, though not currently at the very top in AAV. His contract structure, incentives, and the potential for future renegotiation all contribute to his overall compensation, reflecting his status as one of the league’s most valuable and highest-earning stars.
