One of the most beautiful contracts ever signed by a franchise quarterback belongs to none other than Patrick Mahomes. In an era where most athletes are chasing big payouts, the two-time MVP has signed a clever deal. It ensures that the Kansas City Chiefs are in a great position while also making sure that their playmaker gets paid. Even though he signed the contract about 3 years ago, it’s still a better deal than the ones being signed today. And even analysts agree.
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While on the Rich Eisen Eisen Show, NFL Insider Tom Pelissero spoke about what a stroke of genius Mahomes’ contract was. He mentioned that it’s one of the few deals in the NFL that gives a franchise flexibility. The Chiefs quarterback has made ‘approximately’ $60 million over the last three years, even though his contract calls for an annual payout of $45 million.
“It’s easily Patrick Mahomes. He signed what effectively was a 12-year deal. It was a 10-year, $450 million extension that paid him $60 million roughly over the first three years of the contract,” Pelissero said on the show of the ‘bargain contract’.
Pelissero mentioned how Mahomes’ contract affords the Chiefs a huge advantage: a freer salary cap. It has been structured in such a way that the Chiefs always have enough money to retain their core team. For example, this year, the club re-signed Chris Jones and gave Travis Kelce a hike and an extension.
But Mahomes is content with the contract. In fact, he knows that his sacrifices will only aid the team in reaching great heights. It will also open doors for lucrative collaborations with top brands, as argued by Pelissero.
Diving Into the Contract of Patrick Mahomes
Mahomes signed a smart 10-year-long contract for a whopping $450,000,000. However, in recent years, it’s only evident that he hasn’t received anywhere near a $45 million annual payout.
According to Spotrac, taking into account the various restructuring bonuses and a signing bonus, the star QB’s contract guarantees him only $142,481,905. The rest of the amount comes through other bonuses and agreements.
This kind of structuring of his contract allows the Chiefs to keep a huge spot open in their cap space. On the other hand, it allows Mahomes to get a higher salary payout in later years. It even allows the Chiefs to rebuild around him with the maximum flexibility of their cap.
A deal so lucrative for the team has only been possible because of the kind of vision Mahomes has had. He believes that the money he has already made will last for generations to come, and only time will tell how much more this contract will benefit the Chiefs.
