Many eyebrows were raised when the Kansas City Chiefs handed out what was then considered the richest contract in sports history to Patrick Mahomes ahead of the 2020 NFL season. Contract structure would later reveal that Mahomes’ deal was unique in the sense that it created a lot of year-to-year flexibility for the franchise.
Pro Football Focus recently ranked the top-32 contracts in the league ahead of the 2022 NFL season. Mahomes’ contract, which is worth $450 million in total value and $141 million fully guaranteed to this point, was ranked sixth in the NFL by PFF’s Brad Spielberger. Here’s a look at what Spielberger specifically had to say about the deal:
“Mahomes will find himself on this list for a while as he plays under this contract, which still has 10 years remaining. Odds are he won’t play until the deal’s end, but the benefits will be felt throughout. Mahomes will earn roughly $63 million over three seasons from 2020 through 2022; by comparison, Aaron Rodgers is set to earn $101.5 million over the next two seasons alone.”
Within the context of the recent quarterback contract for Deshaun Watson in Cleveland, Mahomes’ deal already looks like a steal for Kansas City. Watson reset the quarterback market by earning a 5-year deal worth $230 million fully guaranteed. That’s nearly $90 million more in guaranteed money at signing than Mahomes will earn over the course of his 10-year contract. Now, the majority of Mahomes’ contract can become guaranteed via its rolling guarantee structure, but it’s all determined on a year-to-year basis.
With players like Ravens QB Lamar Jackson, Cardinals QB Kyler Murray and Chargers QB Justin Herbert due extensions soon, it’s a safe bet that Mahomes’ deal will be looking more and more team-friendly with each passing day. Not only do the Chiefs have the flexibility to free cap space with simple conversions every year for the next 10 seasons, but by comparison, his deal might not even rank in the top-5 for guaranteed money by 2023. Should he keep up his elite level of production, it’ll put the Chiefs in a really good spot to stay competitive for years to come.
