Patrick Mahomes may get contract restructured after Joe Burrow, Justin Herbert deals

Kansas City Chiefs general manager Brett Veach discussed potentially restructuring Patrick Mahomes contract after the upcoming Joe Burrow and Justin Herbert deals.

With each passing year, the quarterback market gets reset. After all, a team has a difference maker, they do their best to keep him, and hence why the price only increases.

This past week, the Philadelphia Eagles signed Jalen Hurts to a five-year, $255 million contract extension and will pay him an annual salary of $51 million.

Hurts’ contract will be the benchmark now, as fellow young quarterbacks and 2020 NFL Draft classmates Joe Burrow and Justin Herbert are due for new deals. Once those deals are done, then other quarterbacks will look to make as much as them.

When it comes to Patrick Mahomes, he has to be considered the No. 1 signal caller in the entire NFL, considering the success he has had since becoming the starter in 2018. He signed a 10-year, $450 million contract back in 2020, making him the highest-paid player at the time. But since then, he has dropped down the quarterback rankings in regard to salary per year.

Kansas City Chiefs general manager Brett Veach was asked by the media during a press conference on Friday about potentially restructuring Mahomes’ deal given the contracts being given to quarterbacks this offseason.

Brett Veach speaks on potential restructured contract for Patrick Mahomes given rising QB market

“We have a special relationship with him and his agent,” Veach said, h/t ChiefsWire. “We’re in constant communication, as you mentioned. It’s one of those things, and I think Coach (Reid) hinted on this in his last press conference, as soon as one guy gets done it’s kind of the blueprint and the model and two years later, it’s jumped and exceeded. But I think that this organization and the relationship that with have with Pat, we’ll always be working to make sure that we’re doing right by everybody. There will be a couple more contracts that still have to be done (Bengals QB Joe) Burrow and (Chargers QB Justin) Herbert and once they do, I think we’ll kind of look at everything and assess where you are and what you can do and take it from there.”

Mahomes has been willing to rework his deal to give the team some extra cap space to either retain some of their top players, or for them to go out and sign a big free agent. Mahomes and the Chiefs recently restructured his contract, converting $12 million of his roster bonus into a signing bonus which freed up $9.6 million, according to ESPN’s Field Yates.

Since becoming the starter back in 2018 in place of Alex Smith, Mahomes lit the league on fire and became one of it’s biggest stars. Perhaps most importantly, he made the Chiefs consistent Super Bowl contenders. He has led the team to the AFC championship game for five consecutive seasons, made it to the Super Bowl three times and hoisted the Lombardi Trophy twice. Not to mention that he has two NFL MVP awards and two Super Bowl MVP awards.

The NFL world will be waiting to see if Burrow and Herbert are able to surpass Hurts’ deal, whether it is this year or next. Not to mention the potential deal that Lamar Jackson gets from either the Baltimore Ravens or another team. When all three are signed, it will be interesting to see if Mahomes surpasses them as well to really reset the quarterback market.