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Chiefs Agree 10-year $503m Contract With Mahomes NFL
Super Bowl MVP Patrick Mahomes has signed a 10-year extension with the Kansas Chiefs reportedly worth between $450 million and $503 million
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On one hand, it's smart from Kansas City given that the price for QBs will only continue to rise.
On the other, contracts are pretty meaningless given the number of holdouts looking for bigger deals. Lets see how willing Mahomes is to stick to the agreed terms when halfway through his contract he finds he's no longer a top 10 paid QB.
On the other, contracts are pretty meaningless given the number of holdouts looking for bigger deals. Lets see how willing Mahomes is to stick to the agreed terms when halfway through his contract he finds he's no longer a top 10 paid QB.
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Good for him and the Chiefs. He deserves that big contract, can't imagine that he'd sign anything that puts him in a compromised position down the road.
What are they going to do with Chris Jones, he is saying he won't play on the tag by all accounts and surely they can't afford to pay him now? Mahomes was always going to be the priority but it would leave a big hole in the middle of their defense if they have to trade Jones away.
What are they going to do with Chris Jones, he is saying he won't play on the tag by all accounts and surely they can't afford to pay him now? Mahomes was always going to be the priority but it would leave a big hole in the middle of their defense if they have to trade Jones away.
More details emerging, the guarantees seem to be rolling ones.
Patrick Mahomes signed a 10 year, $450,000,000 contract with the Kansas City Chiefs, including a $10,000,000 signing bonus, $141,481,905 guaranteed, and an average annual salary of $45,000,000. In 2020, Mahomes will earn a base salary of $825,000 and a signing bonus of $10,000,000, while carrying a cap hit of $5,346,508 and a dead cap value of $64,953,413.
Contract Notes:
Patrick Mahomes signed a 10 year, $450,000,000 contract with the Kansas City Chiefs, including a $10,000,000 signing bonus, $141,481,905 guaranteed, and an average annual salary of $45,000,000. In 2020, Mahomes will earn a base salary of $825,000 and a signing bonus of $10,000,000, while carrying a cap hit of $5,346,508 and a dead cap value of $64,953,413.
| Contract Terms: 10 yr(s) / $450m | Signing Bonus: $10m | Average Salary: $45m | Guaranteed at Signing: $63,081,905 | Guaranteed Total: $141,481,905 | Free Agent: 2032 / UFA |
| Year | Age | Base Salary | Signing | Roster | Workout | Cap Hit | Dead Cap | Yearly Cash | |
|---|---|---|---|---|---|---|---|---|---|
| 2020 | 24 | $825,000 | $4,521,508 | - | - | $5,346,508 | $64,953,413 | $10,825,000($10,825,000) | |
| 2021 | 25 | $990,000 | $2,000,000 | $21,716,905 | $100,000 | $24,806,905 | $59,606,905 | $22,806,905($33,631,905) | |
| 2022 | 26 | $1,500,000 | $2,000,000 | $27,400,000 | $550,000 | $31,450,000 | $34,900,000 | $29,450,000($63,081,905) | |
| 2023 | 27 | $5,500,000 | $2,000,000 | $34,400,000 | $550,000 | $42,450,000 | $4,000,000 | $40,450,000($103,531,905) | |
| 2024 | 28 | $2,500,000 | $2,000,000 | $34,900,000 | $550,000 | $39,950,000 | $2,000,000 | $37,950,000($141,481,905) | |
| 2025 | 29 | $2,500,000 | - | $38,900,000 | $550,000 | $41,950,000 | - | $41,950,000($183,431,905) | |
| 2026 | 30 | $2,500,000 | - | $38,900,000 | $550,000 | $41,950,000 | - | $41,950,000($225,381,905) | |
| 2027 | 31 | $10,000,000 | - | $49,400,000 | $550,000 | $59,950,000 | - | $59,950,000($285,331,905) | |
| 2028 | 32 | $13,000,000 | - | $30,900,000 | $550,000 | $44,450,000 | - | $44,450,000($329,781,905) | |
| 2029 | 33 | $20,500,000 | - | $23,900,000 | $550,000 | $44,950,000 | - | $44,950,000($374,731,905) | |
| 2030 | 34 | $27,000,000 | - | $22,900,000 | $550,000 | $50,450,000 | - | $50,450,000($425,181,905) | |
| 2031 | 35 | $38,000,000 | - | $13,900,000 | $550,000 | $52,450,000 | - | $52,450,000($477,631,905) | |
| 2032 | 36 | Free Agent |
Contract Notes:
- $63M guaranteed at signing (signing bonus + 2020 salary + 2021 salary + 2021 roster bonus + 2022 salary + 2022 roster bonus)
- 2023 salary & roster bonus + workout bonus fully guarantee on the 3rd league of 2021 ($100M of total dead cap)
- 2024 salary & roster bonus + workout bonus fully guarantee on the 3rd league day of 2022 ($113.3M of total dead cap)
- 2025 roster bonus + workout bonus fully guarantees on the 3rd league day of 2023 ($121.3M of total dead cap)
- 2025 salary + workout bonus fully guarantees on the 3rd league day of 2024 ($81.9M of total dead cap)
- 2026 roster bonus fully guarantees on the 3rd league day of 2025 ($80.85M of total dead cap)
- 2026 salary + workout bonus , 2027 roster bonus fully guarantee on the 3rd league day of 2026 ($91.35M of total dead cap)
- 2027 salary + workout bonus + 2028 salary + 2028 roster bonus fully guarantee on the 3rd league of 2027 ($55M of total dead cap)
- 2029 salary + workout bonus & 2029 roster bonus fully guarantee on the 3rd league day of 2028 ($89.4M of total dead cap)
- 2030 salary & 2030 roster bonus fully guarantee on the 3rd league day of 2029 ($94.85M of total dead cap)
- 2031 roster bonus fully guarantee on the 3rd league day of 2030 ($63.8M of total dead cap)
- 2031 base salary fully guarantees on the 3rd league day of 2031 ($51.9M of total dead cap)
- 2022-2031: $2.5 million incentives ($1.25 million winning AFC Champ Game $1.25 million NFL MVP)
- No Trade Clause
- Staff
- #5
The breakdown is insane.
Kansas City fans have got to be ecstatic! Mind you, it is hard not to like Mahomes no matter who you follow - the guy is electric. It will be interesting to see if he can maintain the levels he has set in his first two full seasons playing.
This gives Andy Reid a reason to stick around for 10 more years too.
This gives Andy Reid a reason to stick around for 10 more years too.