Patrick Mahomes net worth: Salary, contract info for Chiefs QB, NFL's highest-paid player
The Super Bowl 2024 matchup between the Kansas City Chiefs and San Francisco 49ers from Las Vegas' Allegiant Stadium will showcase some of the best, most talented players in the NFL.
And, in the case of Chiefs quarterback Patrick Mahomes, one of its highest-paid.
Much has been made about the disparity in salary between the former Texas Tech football standout and his 49ers counterpart, Brock Purdy. Of course, the latter is in the second year of his rookie contract, and was taken last overall in the 2022 NFL Draft. Mahomes, meanwhile, is in the fourth season of a 10-year, $450 million contract — the single-largest contract in NFL history.
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Of course, few fans would argue Mahomes has more than earned that record-breaking contract. The two-time NFL MVP has led the Chiefs to six consecutive AFC championship games and four Super Bowls in the past five seasons, winning two (and two Super Bowl MVPs).
As he leads Kansas City in the franchise's bid for a third Super Bowl victory in five seasons, here's a look at the quarterback's net worth, career earnings, salary, contract details and more:
Patrick Mahomes net worth
It is impossible to accurately gauge Mahomes' net worth, which, apart from his NFL salary, includes money from business deals whose details are not publicly available. That includes endorsements deals, sponsorships and investments. Numerous purported net worth calculators (none of which offer their methodology) vary, but most tab him as having a net worth in the tens of millions.
For what it's worth, Forbes' most recent estimation for Mahomes is $59.3 million — a figure that almost certainly is out of date, considering it was last updated in May 2023. It lists him as having earned $39.3 million from his NFL salary and $20 million in endorsement deals. The sponsors on his Forbes page include Adidas, Airshare, BioSteel, CommunityAmerica Credit Union, Directv, Hy-Vee, Molson Coors, Nestlé, Oakley, Panini, Procter & Gamble, State Farm Mutual Auto Insurance, Subway and Whoop.
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Patrick Mahomes salary
Per Spotrac, Mahomes in 2023 has a salary of $59.35 million from his NFL contract alone. That figure is broken up in the following categories:
Base salary: $1.33 million
Signing bonus: $20.57 million
Roster bonus: $22.4 million
Workout bonus: $550,000
Restructure bonus: $12 million
Contract incentives: $2.5 million
Patrick Mahomes contract details
Length: 10 years
Total value: $450 million
Average annual value (AAV): $45 million
Mahomes in July 2020 signed what is, in terms of total value, the biggest contract in NFL history, one worth $450 million. It also offers him an AAV of $45 million over the course of 10 years, including $63 million guaranteed at signing and $141 million in guarantees for injury.
In the time since Mahomes signed his contract, however, seven quarterbacks were signed to deals that, while they didn't surpass his total value, offered more in the way of AAV. Of those QBs, only Russell Wilson and Lamar Jackson have led their team to a Super Bowl victory or won an NFL MVP, respectively.
Per Over the Cap, the Chiefs QB actually ranks eighth in the league in terms of AAV:
Joe Burrow: $55 million
Justin Herbert: $52.5 million
Lamar Jackson: $52 million
Jalen Hurts: $51 million
Russell Wilson: $49 million
Kyler Murray: $46.1 million
Deshaun Watson: $46 million
Patrick Mahomes: $45 million
To address for what was quickly becoming a talking point, the Chiefs in September restructured Mahomes' contract — something they initially planned to do after the 2026 season, per ESPN — to bring him more up to speed with his peers in the league. The restructured deal will give Mahomes $210.6 million from 2023-26, the most money in a four-year span in NFL history.
Moreover, Mahomes' money made over the next four seasons massively boosts his practical AAV in that time frame: up to $52.65 million. That ranks second in the NFL, behind only the Bengals' Joe Burrow.
Patrick Mahomes career earnings
According to estimations by Spotrac and Over The Cap, Mahomes has made roughly $136 million in career earnings from the NFL since he was drafted into the league in 2017.
While that's certainly an impressive figure, it pales in comparison to some of the NFL's all-time earners. Per rankings from OTC, Mahomes' $136 million in career earnings ranks 31st all time among all NFL players. When removing non-active players, he still is ranked only 18th in career earnings. He is the 22nd highest-earning quarterback of all time, and ranks as the 12th highest-earning active quarterback in the league.
Considering all that Mahomes has helped the Chiefs accomplish in the time since he was drafted, he may have earned another moniker, aside from NFL MVP and Super Bowl champion:
Bargain.
This article originally appeared on Lubbock Avalanche-Journal: Patrick Mahomes net worth, salary, contract details for Chiefs QB
