Patrick Mahomes’ contract with the Kansas City Chiefs, signed in 2020, is one of the most significant in NFL history. The deal was a 10-year extension, valued at up to $503 million, making Mahomes the highest-paid player in professional sports at the time. The contract ties him to the Chiefs through the 2031 season, ensuring long-term stability for both the player and the franchise.
The $503 million figure is based on certain incentives and bonuses being met, making the contract’s total potential earnings a mixture of guaranteed money and performance-based rewards. The contract includes $477 million in “guarantee mechanisms.” These mechanisms ensure that portions of Mahomes’ salary become guaranteed over time, which means that as long as the Chiefs don’t terminate the deal early, Mahomes will receive the guaranteed amounts. This structured approach gives the Chiefs some flexibility while still providing Mahomes with significant security.
Mahomes’ base salary fluctuates throughout the contract, but starting in 2027, he will consistently earn at least $40 million per year. The deal also includes significant roster bonuses, which are paid if Mahomes is on the team’s roster at the start of each league year. For instance, in 2021, Mahomes received a $21.7 million roster bonus, and this number increases throughout the duration of the contract. The overall structure of the deal is designed to give the Chiefs some salary cap flexibility while ensuring Mahomes is well compensated as the face of the franchise.
In terms of incentives, Mahomes can earn additional money if he reaches specific goals, such as winning the MVP award or leading the Chiefs to the Super Bowl. These incentives are structured in a way that Mahomes has the potential to increase his earnings by millions if he continues to perform at an elite level and leads the team to success.
The contract also features a no-trade clause, meaning Mahomes cannot be traded to another team without his consent, giving him significant control over his career. This is a rare clause in NFL contracts and reflects the Chiefs’ commitment to Mahomes as their long-term leader.
Despite the staggering numbers associated with the deal, the structure of Mahomes’ contract allows the Chiefs to continue building a competitive team around him. The long-term nature of the contract means that the Chiefs can spread out the financial burden over many years, helping them navigate the NFL’s salary cap rules.
Overall, Patrick Mahomes’ contract is a landmark deal in professional sports, providing him with unprecedented financial security while allowing the Chiefs to retain one of the NFL’s best players for over a decade.