The Chiefs broke the bank for Patrick Mahomes, giving him the richest contract in American sports history.
In back-to-back seasons, Kansas City Chiefs quarterback Patrick Mahomes won the NFL MVP and Super Bowl MVP. He’s still just 24-years-old and has already ascended to face-of-the-NFL status, with nowhere to go but up. The pound-for-pound best player in the NFL received his compensation in the form of a Brinks truck, and won’t be leaving the Kansas City area anytime soon.
Mahomes deal pays him until his age-37 season and serves as a 12-year contract of sorts. Per Adam Schefter, Mahomes deal is a 10-year extension, but he’ll still make an AAV of near $3 million this season, and $24.8 million in 2021. Then, the real fun starts.
Patrick Mahomes signed the richest contract in sports history.
Trout’s contract is for 12 years and $426.5 million, which he signed with the Angels last March. Mahomes deal, should the salary cap remain the same, will reach at least $427.6 million. However, with the understanding that the NFL salary cap has increased year-over-year almost every season in recent memory, Mahomes’ value should skyrocket in that 12-year span.
Mahomes’ contract sets the market at his position, but it’s highly unlikely any player comes close to touching such a record mark for years to come. By tying himself to the NFL salary cap, Mahomes gives himself wiggle room with that valuation, as well. The more the league continues to grow financially, the more money he’ll make. Such a contract is mutually beneficial to both the Chiefs and himself.
The Chiefs knew this day was coming, and every day that went by without a contract was another they’d dollar they’d have to cough up. Unlike in the case of the Cowboys and Dak Prescott, there is no circumstance where the Chiefs might flip the tables on Mahomes. He’s arguably the greatest quarterback talent we’ve ever seen, and he’s a marketing campaign waiting to happen. The man (and his agency) know his worth.
This payday was unavoidable, and a win for both sides despite the high dollar mark.