As time goes on, the deal that the Chiefs signed with Patrick Mahomes just gets better and better. In hindsight, looks like it might be an absolute steal – which is a strange thing to say about a 10-year, $450 million contract. But it looks like that is exactly what Kansas City got when it was able to lock down Mahomes for the long term and more.
At the time, it was the largest contract ever signed in pro sports. But at an average of $45 million per season and with quarterback contract values steadily increasing, it seems like the Chiefs might actually have a bargain on their hands.
Per Over the Cap, based on current contracts, Mahomes won’t be the highest-paid QB per season in the league until 2027—a year that only he and Josh Allen currently have contracts for. In 2022, his cap hit was less than Ryan Tannehill’s. In 2023 Deshaun Watson and Dak Prescott will earn more. Add Matt Stafford to that list in 2024 and Allen and Aaron Rodgers the year after that. In 2024, Mahomes’ cap hit is only $500,000 more than Derek Carr’s.
Mahomes is younger than everyone but Allen in that bunch and is almost certainly the best player.
If we look ahead, it seems like the Mahomes deal could be a bargain compared to future contracts that might be offered. Teams like Cincinnati, the L.A. Chargers, and Arizona have young quarterbacks on their rosters in Joe Burrow, Justin Herbert, and Kyler Murray, all of whom are due for extensions soon. Given the way the market has been trending, there is a very real chance that all three could end up signing deals with higher yearly earnings than Mahomes has. And who knows, other lesser QBs could earn more too – a crazy thought.
Locking up the best QB the Kansas City Chiefs have ever seen was an absolute no-brainer, but as time goes on, that deal just keeps on getting better and better.