Mahomes is under contract for 12 years after signing a 10-year extension. Jones, whose rookie deal had expired, is under contract for only four.
It’s a four-year, $80 million deal, with $60 million functionally guaranteed, based on the structure.
He gets $16.26 million in 2020 (with no signing bonus), $21.5 million in 2021, $22.374 million in 2022, and $20 million in 2023.
Surprisingly, the Chiefs agreed not to insist on having a fifth or sixth year on the contract. Those final years provide a one-way benefit to the team; if the player is still playing at a high level, the team happily keeps him. If he isn’t, they cut him loose. For Jones, after four years he’ll be back at the table again.
Of the $80 million, 47 percent of it ($37.626 million) is fully guaranteed at signing. Roughly 70 percent ($55.75 million) is functionally guaranteed by the second year of the deal. By April 2021, Jones will pocket $37 million or nearly half of the full value of the contract.
Beyond the $80 million, he can earn $1.25 million per year in sack incentives, giving the deal a maximum value of $85 million.
Given that the pandemic is creating plenty of uncertainty, it’s a deal that ensures Jones will be with the Chiefs for four more seasons while also giving him the chance to hit the market before he turns 30.