Kansas City Chiefs quarterback Patrick Mahomes headlines the NFL Top 100 players in 2023 with two Super Bowl rings and a pair of NFL MVP awards. Now, the Chiefs want to ensure he remains one of the highest-paid NFL players.
Mahomes signed the largest contract in NFL history before the 2020 season, agreeing to a 10-year extension worth $450 million and a maximum value of $503 million. With NFL revenue exploding, Mahomes has slipped down the order of highest-paid quarterbacks.
- Patrick Mahomes contract: $450 million over 10 years, $39.693M cap hit in 2023
The Chiefs have made it clear this spring that they are willing to adjust Mahomes’ contract and intend to adjust his deal to properly reflect his value. While few details have emerged regarding the parameters of an adjusted contract, it appears a resolution isn’t far away.
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Mike Florio of Pro Football Talk noted that the Chiefs are expected to adjust Mahomes contract before the NFL season kicks off in Week 1 against the Detroit Lions on Sep. 7.
Since Mahomes signed his original extension, three quarterbacks have signed deals worth at least $50 million per season. Lamar Jackson ($52 million AAV) and Jalen Hurts ($51 million AAV) now lead their peers, but neither player has Mahomes’ resume.
Mahomes is under contract through his age-36 season and isn’t eligible for free agency until 2032. One path the Chiefs’ front office could take is adding multiple years to his deal, extending him through his age-38 season and raising the total value of the contract.
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- Patrick Mahomes stats (2022): 5.250 pass yards, 41 passing touchdowns, 105.2 quarterback rating, 67.1% completion rate, 8.1 yards per attempt
The timing of an agreement will also be important. Joe Burrow and Justin Herbert are also expected to sign contract extensions this year, with the projected AAV in excess of $52 million. Whichever deal comes first, it will serve as the starting point of negotiations for the other quarterbacks.
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