Patrick Mahomes went from the half-billion dollar man to one of the more underpaid quarterbacks in the sport in just a few years. Mahomes reset the market, and eventually other owners paid their own signal-callers as if they were on his level.
Mahomes is a team player. He wants to win, which is important to his overall legacy once his career is said and done. The Chiefs are paying Mahomes well, after all, and he should surely have an opportunity to earn a decent income after his playing days. So, what's the point in demanding more just to prove a point?
Kansas City and Mahomes restructured his contract on Monday, which will make him the highest-paid QB in the sport's history over a four-year span.
A new deal!
— Ian Rapoport (@RapSheet) September 18, 2023
In the restructured @patrickmahomes agreement, he now receives $210.6M between 2023 and 2026; the most in NFL History over a four season span. His compensation for those years is guaranteed. With escalators, the agreement could reach $218.1M by the end of 2026. pic.twitter.com/H6H84iryMN
It was only a matter of time before Mahomes landed back atop the list of highest-paid quarterbacks in football. However, Mahomes deal in particular holds a lot of power, as he'll be due another raise after 2026.
Did Patrick Mahomes just give the Chiefs title window a deadline?
Mahomes' current contract may sound like a lot, but it gives Kansas City plenty of flexibility over that timespan. The Chiefs have several important pending free agents they would like to sign next offseason, including Chris Jones. Reworking Mahomes' deal again -- and perhaps pushing back some of his record guaranteed money or doing so in the form of a bonus -- could get them under the salary cap enough to sign Jones.
The deal resets cash flow and guarantees for the QB market. Mahomes has now received over $273M in guarantees since the deal was originally signed in 2020 -- an NFL record -- and that excludes guarantee mechanisms that provide for an all-inclusive $450M in guarantees, per me and… https://t.co/2DYglJfBBl
— Ian Rapoport (@RapSheet) September 18, 2023
As Ian Rapoport later notes, this reworked contract gives Mahomes some leverage. Come 2026, he can either request the bag, or be more flexibile as he has been so far in the negotiating process. Mahomes holds the keys to the Chiefs Super Bowl window. Thankfully, he likes winning about as much as he does the money he makes.