Report: Patrick Mahomes’ contract worth over $400 million, could be tied to salary cap
Patrick Mahomes and the Kansas City Chiefs have agreed to a massive contract extension at a very uncertain time in the sports world and beyond, but the two sides may have found a solution that helps them overcome that.
Mahomes will sign a 10-year extension with the Chiefs. He has two years remaining on his rookie contract, so he will be tied to the franchise through the 2031 season. According to ESPN’s Adam Schefter, the new deal is worth more than $400 million in total.
Patrick Mahomes' 10-year extension with the Kansas City Chiefs is worth over $400 million in total, per league sources.
The more significant question is, How much over $400 million?
— Adam Schefter (@AdamSchefter) July 6, 2020
While the exact terms have not been revealed, Schefter also reports that Mahomes’ contract could be tied to a percentage of the salary cap each season. The Chiefs previously said they would not structure the deal that way, but it’s possible things changed with the uncertainty caused by the coronavirus outbreak.
The interesting part is, the Chiefs have been adamant that they would not tie a new Patrick Mahomes' deal to percentage of the cap. So this is going to be interesting to see the deal's final structure. https://t.co/CEEOtjRLBR
— Adam Schefter (@AdamSchefter) July 6, 2020
The Chiefs would not have been able to justify making Mahomes anything less than the highest-paid player in NFL history, so it will be interesting to see how the 10-year deal is structured. The average annual salary may help set the market for other star quarterbacks like Dak Prescott and Deshaun Watson, but it seems like Prescott is seeking a much different type of deal.
Mahomes has already won an NFL MVP and a Super Bowl MVP, and he won’t turn 25 until September. However his new contract is structured, the Chiefs are unlikely to regret it as long as Mahomes stays healthy.
