Patrick Mahomes will lead the Kansas City Chiefs into their fifth Super Bowl in six years. The star quarterback hasn’t turned back even once after earning the primary QB role. He won the AP MVP award in the first season and led the franchise to their first Super Bowl in 50 years.
Let’s examine what the Chiefs are paying him for his services and if he’s the highest-paid quarterback in the league.
Is Patrick Mahomes the Top Paid Quarterback?
After Mahomes brought the Vince Lombardi Trophy to Kansas City after half a century, the two parties agreed to a shocking deal in 2020. While many expected Mahomes to sign a contract worth huge numbers in terms of salary and bonuses, not many expected a deal that would extend over a decade and with a value worth potentially over half a billion.
Mahomes’ contract is a 10-year, $450 million deal that includes $141.482 million in guarantees. However, despite having the largest and the longest deal, the Chiefs QB is not even in the top 10 when it comes to average annual value.
Mahomes is tied at 14th place for the highest-paid quarterback in the league alongside Kirk Cousins, with a $45 million average annual value. The Chiefs gave Mahomes a revised contract in September 2023 that moved money into the near term.
The reworked deal essentially allowed Mahomes to collect $48 million annually from 2023-26, added two void years, and tweaked the two-time MVP’s incentive structure. Mahomes will earn QB $210.6 million between 2023 and 2026, the most money in NFL history over a four-season span.
The length and structure of Mahomes’ contract differ from anything previously seen in the NFL. Mahomes’ contract contains rolling guarantees that make it nearly impossible for the Kansas City Chiefs to cut him in the future without taking on massive amounts of dead money.
But the deal is also team-friendly in other ways. Kansas City gained cost certainty and locked in an AAV that’s already falling below the rest of the QB market. And Mahomes’ cash flows — just $116 million through the first three years — trailed most other significant quarterback contracts.
Mahomes is chasing an unprecedented three-peat with the Chiefs. When the 29-year-old takes the field against the Eagles on Sunday, he will aim to solidify his case as the greatest quarterback in NFL history.
The Chiefs QB can win his fourth Super Bowl and fourth Super Bowl MVP if his side manages to pass the Eagles test in New Orleans. Mahomes promised the fans another Super Bowl after clinching the title against the San Francisco 49ers last season. He would like to stay true to his words by doing it all over again at Caesars Superdome, Louisiana.