One massive Chiefs advantage explains their dominance, and it keeps getting bigger

The 2024 offseason has redefined the financial market for offensive players.

As the NFL’s rules continue to create an offense-oriented league, quarterbacks and wide receivers have become increasingly vital to success. 

Minnesota Vikings wide receiver Justin Jefferson became the highest-paid non-quarterback in NFL history, while countless others inked lucrative deals of their own. 

Quarterbacks have continued to lead the league in contract value. Cincinnati Bengals quarterback Joe Burrow became the highest-paid player in NFL history when he signed a five-year, $275 million contract last offseason. Just one year later, quarterbacks with much fewer accolades have managed to match that figure. 

This offseason, Jacksonville Jaguars quarterback Trevor Lawrence and Green Bay Packers quarterback Jordan Love, who have both only had one great season, signed contracts that tie Burrow’s average annual value of $55 million.

Patrick Mahomes contract gives Chiefs a better chance to win

Kansas City Chiefs quarterback Patrick Mahomes has followed in the footsteps of legendary quarterback Tom Brady, who often took a discounted contract to benefit the team. 

As the quarterback market has skyrocketed, Mahomes has fallen to No. 12 on the annual salary leaderboard. The eight highest-paid quarterbacks in terms of average annual value all signed their contracts during the 2023 or 2024 offseason. 

Those eight quarterbacks have a combined 16-17 postseason record, per NFL Network’s Rich Eisen. They’ve combined for a total of three Super Bowl appearances, but none of them have won a championship.

While the newly minted quarterback contracts feature delayed cap hits, those respective teams will ultimately have to face the salary cap ramifications. Mahomes’ discount allows the Chiefs to extend key players or sign depth pieces that ultimately help their chances of winning.

That additional salary cap flexibility could be the difference between retaining a player like defensive tackle Chris Jones, who made crucial plays to help bring a Lombardi Trophy to Kansas City last season. For a team like the Bengals, retaining a player like wide receiver Tee Higgins may be as feasible if their quarterback wasn’t consuming an annual average of 24.4 percent of their salary cap.

That's quite an advantage for the Chiefs, whose quarterback has already led them to three Super Bowl championships and four Super Bowl appearances.

Of the eight highest-paid quarterbacks, Jared Goff, Jalen Hurts, and Burrow are the only three quarterbacks to make a Super Bowl appearance. Coincidentally, Goff lost Super Bowl LIII against Brady while Hurts lost Super Bowl LVII against Mahomes.

When Mahomes signed his monster 10-year, $450 million contract in 2020, the $45 million annual salary seemed like a significant figure. Four years later, it seems like a bargain.