Mahomes’ Contract is Great for Kansas City – July 6, 2020 will forever be an important day in Kansas City Chiefs history. Patrick Mahomes II signed a 10-year contract extension — 12 years in total — valued at $503 million if all incentives are met. Wow. I still can’t get over that… half a billion dollars. This is not only the largest contract in Chiefs history, nor is it only the largest contract in NFL history, but the largest contract in all of sports history. Now, some may be thinking that a half-billion dollar contract might be detrimental to our salary cap and make it near impossible for the Chiefs to be able to continually compete for the Super Bowl. Well, let’s credit the general manager Brett Veach, because this deal is surprisingly team friendly. Here is why this contract extension for Patrick Mahomes is great news for Pat himself, the Chiefs organization, and for the city of Kansas City as a whole.
Great for Patrick Mahomes
Let’s start with the obvious: Patrick Mahomes is set to be a Kansas City Chief through the 2031 season. Just think about that for a second. The Chiefs finally have the best quarterback in the NFL in his peak and have secured him for the long haul. Everything else aside, this becomes a no brainer. He is the best quarterback in the league, so why wouldn’t you want to secure him for what will end up being a majority of his career. After having the full-time starting role for a mere two seasons:
- he has been to the AFC Championship game twice
- won a league MVP
- won a Super Bowl, and
- won the Super Bowl MVP
In his first TWO seasons!
You can’t ask for a better way to start a career in the NFL. Locking down a player of Mahomes’ talent was a no brainer for the team, and we the fans are certainly not complaining. Looking back through history at who the best quarterback was at any given time… this is the earliest in their respective careers we have ever known who that player is. Patrick Mahomes has encapsulated the hearts of every Chiefs fan and he has done so by the age of 24. With a player this young and talented, signing Mahomes for twelve more seasons was simply a must for the Chiefs.
This contract is a win-win! Great NFL players are always demanding top-tiered contracts, so it is not too often a major deal gets made that favors both the team and the player. Patrick Mahomes wins because he is set for life. The team wins because they secure the best quarterback in football for most, if not all of his career. Just by signing his name, the Chiefs wrote Mr. Mahomes a check for $10 million, and he was guaranteed a total of $63 million (with the injury guarantee capping at $141 million). The total value of the contract extension is $450 million, so the two years he had left on his contract added to the extension brings the total to $477 million. Add in his incentives for each year for winning a league MVP or the AFC Championship game at a cool $1.25 million each, and the maximum value of the full contract reaches $503 million.
Not only can Mahomes potentially take home half of a billion dollars, but he locks himself in a dream situation for the young quarterback’s career. His relationship with head coach Andy Reid has been something truly amazing for Chiefs fans. A continued marriage between Reid and Mahomes gives both coach and quarterback better odds at increasing the size of their trophy cases. Both for his career, his legacy, and certainly his wallet, Patrick Mahomes is securing himself with a phenomenal opportunity to maximize his potential. Only time will tell if Mahomes can successfully track down Tom Brady’s Super Bowl rings record (6), but this twelve year deal has given Patrick Mahomes the absolute best chance to do so.
Great for the K.C. Organization
Keeping head coach and quarterback on the same page can yield wonderful results. However, in order for Mahomes to chase a dynasty, he still has to have a team around him to do so. Every Chiefs fan has wondered what kind of consequences such a large deal will have on the salary cap for years to come. Well considering the amount the contract is worth, I am surprised to say that it is actually quite team friendly. First and foremost, Brett Veach has barely added any additional cap over the next two seasons. There will likely be a few years in the middle where we have the potential to lose a familiar face or two. Mahomes’ cap hit peaks in 2027, but as the salary cap will likely be much higher by then, and other quarterbacks could be making more than him at this point. This all means that there is a pretty good shot that the Chiefs will continually have enough cap room to keep the defense competitive, protect Mahomes with a decent offensive line, and put enough weapons around Mahomes so he can thrive. If Mahomes can continually be in the top-5 quarterbacks throughout the life of this contract, something I think every Chiefs fan firmly believes could happen, then this deal will turn out to be remarkably team friendly. After all, think about how much more money Mahomes could’ve gotten if he only signed 3-4 year extensions at a time.
Great for the City of Kansas City
Patrick Mahomes and the Kansas City Chiefs aren’t the only ones who have benefitted from the largest professional sports contract of all time: the city of Kansas City, Missouri has also struck gold. Patrick Mahomes is must-see entertainment. Not that the Chiefs have ever had attendance issues, but they are certainly going to have no problem filling Arrowhead Stadium for the next twelve seasons. Fans are going to have a minimum of 96 opportunities (that’s only regular season games, not to mention preseason, playoffs, or a potentially lengthened season in the future) to see Patrick Mahomes in action. Players as great as Mahomes always tend to draw people in, and the city of Kansas City as a whole is going to reap those benefits. The city itself will experience an influx in revenue for local hotels, bars and restaurants from people coming into Kansas City to watch Patrick Mahomes. Obviously it’s difficult to attribute how much money Mahomes could eventually bring into Kansas City, but if the Chiefs keep hosting playoff games, the amount of tax revenue he could end up bringing into the city will likely be higher than you’d think.
So there you have it: Patrick Mahomes and the Kansas City Chiefs have made history. The largest contract in all of sports and the first time ever that the highest paid athlete in the world has been in the NFL, and somehow everyone has come off better for it. Mahomes is one of the most exhilarating and dynamic athletes on the planet and his new contract has reflected this sentiment ten-fold. The overall amount and opportunity to create a dynasty has created the perfect scenario for Patrick Mahomes; the front office, led by general manager Brett Veach, has maintained some legitimate “wiggle room” with the cap space considering the size of the contract; and of course, the fans and the city itself is going to experience an incredible twelve years with Patrick Mahomes in town.
David Beck — ArrowheadOne
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