Patrick Mahomes inked a 10-year, $450 million contract extension with the Kansas City Chiefs in 2020. This was seen as a huge, historically significant, and unparalleled deal.
However, Mahomes’ salary almost seems antique in comparison to other quarterbacks in the league these days. Even with a $450 million price tag, it appears to be too much of a bargain.
The Chiefs made it their top priority to sign Mahomes to a long-term massive contract. This was seen as a token of gratitude after he led the team to its first title in more than five decades, in 2020.
The celebrated quarterback agreed to an extension of his contract for 10 years, worth a total of $450 million, with just over $63 million completely guaranteed at signing. He was also given a $10 million signing bonus, per the provisions of the deal.
Since then, Mahomes’ contract has changed the NFL quarterback market because the money was bigger than any previous quarterback deal.
Yet, many think that Mahomes, who is arguably the most successful and skilled quarterback in the NFL presently, is only getting paid a small portion of what he is worth. His yearly average earning only places him ninth among current NFL players, suggesting that he is underpaid.
Mahomes has been a starter for six years, and he has advanced to the AFC Championship Game every year in this period.
He’s been in the Super Bowl four times since then and has won three championships. He also won the Super Bowl MVP in each of the seasons Kansas City won the title. He’s arguably the best player in the league right now and should get a compensation that befits that status.
Mahomes is still making a sizable salary despite receiving a wage that is comparatively lower than what many consider to be his true market value.
The three-time Super Bowl-winning quarterback made a healthy $59.4 million in 2023 (with a new signing bonus), and he will get up to $44.5 million in 2024. In addition, the Chiefs are able to manipulate his future remuneration through restructuring and bonuses. This will allow them to keep assembling a competitive squad around him.
Which quarterbacks in the NFL earn more than Patrick Mahomes?
The highest-paid NFL quarterback is currently Joe Burrow of the Cincinnati Bengals ($55 million annual average pay). But he has now been tied by Trevor Lawrence after the Jacksonville Jaguars’ quarterback signed a $275 million deal for a five-year extension recently.
Burrow inked a five-year extension with the Bengals just before the 2023 campaign. He receives $55 million annually from the agreement, which ties him for the highest average salary of any player in the league.
Even though Patrick Mahomes is widely regarded as the league’s best player, his average yearly compensation of $45 million places him ninth among the highest-paid players. The quarterbacks listed below are all paid more annually than the 28-year-old:
- Joe Burrow (Cincinnati Bengals) – $55 million AAV
- Trevor Lawrence (Jacksonville Jaguars) – $55 million AAV
- Jared Goff (Detroit Lions) – $53 million AAV
- Justin Herbert (Los Angeles Chargers) – $52.5 million AAV
- Lamar Jackson (Baltimore Ravens) – $52 million AAV
- Jalen Hurts (Philadelphia Eagles) – $51 million AAV
- Kyler Murray (Arizona Cardinals) – $46.1 million AAV
- Deshaun Watson (Cleveland Browns) – $46 million
