Report: Chiefs, Patrick Mahomes commence contract negotiations

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When it comes to signing a young franchise quarterback to a second contract, the sooner the team gets it done, the cheaper it will be. The Chiefs officially have commenced the process of getting a long-term deal done with quarterback Patrick Mahomes.

Sam Mellinger of the Kansas City Star reports that negotiations between the Chiefs and Mahomes have begun.

The best player in the NFL after only two seasons as a starter and already on track to be one of the best to ever play the game, Mahomes deserves to be the highest paid player in football. Many have suggested that he’ll be the first player to crack the $40 million-per-year threshhold.

With two years left on his rookie deal, it won’t cost $40 million per year to get to $40 million per year, given the way the NFL and NFL Players Association values contracts. A five-year, $200 million extension (i.e., $40 million per year in new money) would become, given the money he’s due to make in 2020 ($2.794 million) and 2021 ($24.837 million), a seven-year contract with an annual value at signing of $32.5 million.

For the Chiefs, the prospect of getting Mahomes committed through 2026 at $32.5 million per year is a ski-mask bargain. That could result in Mahomes wanting a shorter-term deal, like a four-year extension. At $40 million per year in new money, a four-year extension would cost the Chiefs $31.27 million per year at signing. Again, another ski-mask bargain.

When fans see that Mahomes is worth $40 million per year (he is), they’ll likely think he’s getting $40 million per year at signing. But giving Mahomes a deal worth $40 million per year at signing would drive the new-money average through the roof. If, for example, the Chiefs were to rip up the two years left on Mahomes’ current deal and replace it with a six-year, $240 million contract (i.e., $40 million per year at signing), the new-money average would become $53 million per year.

The ultimate challenge becomes finding a way to give Mahomes what he has earned without wrecking the team’s salary-cap situation. And that’s why Mahomes should be the first player to have his compensation tied to salary-cap percentage.

Such a contract would have specific salary figures for each year of the deal (which would protect him against a drop in the salary cap), along with a commitment that his compensation would always reflect at least, say, 15 percent of the team’s total salary cap. As the cap keeps going up (after the dust settles on the pandemic it surely will), Mahomes would be protected against his deal becoming obsolete, without being perceived as a salary-cap hog.

Whatever his pay, there would always be, for example, 85 cents on the dollar left to put a team around him. Or 84. Or 83. Whatever the two sides decide the best number is, that’s the amount that will be left, year-in and year-out.

Mahomes has made it clear that he wants to leave enough money on the table for other players. He could, if he wanted, take a harder-line position, telling management that it’s their job to manage the cap and to put quality players on the field with him. If the two sides find a way to peg his pay to a specific, predetermined percentage of the salary cap, there will be no issue regarding whether he’s getting too much or not enough. Whatever the cap, he’ll get the same piece every year, relative to the rest of it.

Other players have tried to tie compensation to cap percentage. The teams have resisted, possibly at the behest of the NFL’s Management Council. Regardless, the right player to blaze that trial is Mahomes — and here’s hoping that he and his agents use their leverage to get something like that done, for the good of Mahomes and for other players behind him who would have a better chance of securing a similar term.

37 responses to “Report: Chiefs, Patrick Mahomes commence contract negotiations

  1. If the Chiefs get this done before the Cowboys and Dak, it’s going to cost the Boys a ton of money to retain an above average quarterback.

  2. This will be a hoot.

    Chris Jones is gone.

    Next, the union will pressure Mahomes to get at least 35 mil per based on his status.

    In 2010, into the Lockout, Brady was under pressure to get a max deal. This is the same situation here. Mahomes is the best right now and the union needa him to get the most he can.

    Regardless, KC is finished once this contract surfaces. They will lose numerous key pieces and be rebuilding after 2020.

    It’s the Joe Flacco Effect from bozo the clown Ozzie Newsome not having him paid prior to the 2012 season. If you wait, you lose. KC should have had him paid based on projected ceiling.

    And, here we are. Every single qb is overpaid for those who are off their rookie deals.

  3. So how did that commence?

    Chiefs : “Hi Patrick – How much do you want? And where should we send it?”

  4. The ultimate challenge becomes finding a way to give Mahomes what he has earned without wrecking the team’s salary-cap situation.
    ====================
    Um, that isnt possible.

  5. Let’s say he gets his new contract this summer. Unlikely, but let’s say. What happens if the pandemic wipes out part or all of the upcoming season. Does he still get paid the full amount per the CBA or can this pandemic possibility be addressed by the terms of his new contract and he’s only paid per games played or something similar. I dont think you can contract around the CBA but what do I know.

  6. “If I were you I’d ask for $80 trillion per year.”
    –Actual advice offered by Dak Prescott

  7. It’s hilarious watching people drooling over their belief that the Chiefs are done once Mahomes gets his new deal. Even if they have to jettison some big contracts, they’ll be fine. They could take several steps backward and still contend every year.

  8. legionofzoom says:
    May 28, 2020 at 12:40 pm
    It’s hilarious watching people drooling over their belief that the Chiefs are done once Mahomes gets his new deal. Even if they have to jettison some big contracts, they’ll be fine. They could take several steps backward and still contend every year.

    umm not being able to retain key players cause in cap hell is not recipe for contending. but yeah lets pretend taking several steps back is recipe for success

  9. Pat mahomes is over rated. He’d be lucky to get paid in free barbeque.

  10. Mahomes should get 40m, which means Dak should get 4m since Mahomes is 10x as good.

  11. Cap hell doesn’t matter. We won the Super Bowl, we’re in heaven.

    Any team, with exception of the Pats, would take cap hell if they got a Super Bowl. Sure the trick is to get a rookie to 3rd year guy to lead them to the promise land but every team tries that and many teams try that every time a QB is taken in the 1st round.

    Very few succeed, but the Chiefs did. Super Bowl Champions is the goal, and the feeling is glorious!

  12. Except Flacco was great for four games. And even then it took a complete bonehead call by John Fox to get him paid. Mahomes has been great from the jump.

    The average annual numbers over the next four or five years are no problem with the cap. There are 31 other teams that would sell their souls to sign that contract.

  13. touchback6 says:
    May 28, 2020 at 12:15 pm
    This will be a hoot.

    Chris Jones is gone.

    Next, the union will pressure Mahomes to get at least 35 mil per based on his status.

    In 2010, into the Lockout, Brady was under pressure to get a max deal. This is the same situation here. Mahomes is the best right now and the union needa him to get the most he can.

    Regardless, KC is finished once this contract surfaces.

    —–

    Your Patriots were finished once Brady fled town and Jarrett Stidham became the starting QB

  14. straighcashhomey says:
    May 28, 2020 at 1:03 pm

    umm not being able to retain key players cause in cap hell is not recipe for contending. but yeah lets pretend taking several steps back is recipe for success
    ——————————————————————–

    The assumption that cap hell is inevitable is exactly my point. Other teams past failures aren’t an indication of future results for any team, including the Chiefs. Brett Veach is an absolute wizard GM. If anybody can make it work, it’s him.

  15. “Teams have resisted,possibly at the behest of the NFLs Management Council”

    Is this the same group that lies about the five to ten billion in revenue the League generates every year hidden from players, labor management and fans due to “creative accounting” like Hollywood ??

  16. touchback6 says:
    May 28, 2020 at 12:15 pm

    It’s the Joe Flacco Effect from bozo the clown Ozzie Newsome not having him paid prior to the 2012 season. If you wait, you lose. KC should have had him paid based on projected ceiling.

    ========

    A few things:

    -Flacco was on a contract year, Mahomes still has two years (one of those being the option year).
    -Mahomes has done in two years as a starter what Flacco couldn’t do in several
    -Ray Lewis was already going to retire, freeing money up for Flacco, so (at the time) it seemed more feesable. KC at least has a few years to get their ducks in a row, maybe losing Chris Jones or maybe not.

    The only comparison PM and Flacco have are that they both have a ring, Mahomes actually pulling the weight in his victory. After that, absolutely none.

  17. If the covid stuff hadn’t happened, with the corresponding potential revenue decrease and cap decrease, a huge Mahomes contract may not have been an issue due to the huge expected increase in TV revenue. Now with the cap uncertainty for 2021, it makes contract negotiations more difficult.

  18. It’s in their best interest to get this done before Dallas ridiculously overpays Dak.

  19. Pat mahomes is over rated. He’d be lucky to get paid in free barbeque.
    ——————————
    He is overrated! In his two years as an NFL starter, he’s only won half the league MVPs, and half the Super Bowls. Piker!!

  20. Show me the TDs says:
    May 28, 2020 at 12:21 pm
    The ultimate challenge becomes finding a way to give Mahomes what he has earned without wrecking the team’s salary-cap situation.
    ====================
    Um, that isnt possible.

    —-

    It is very possible. It is called “The Draft” and “Players looking for a second chance.”

  21. Imagine being a great linebacker….your team tries to degrade you every year while the QB is loved and reveared by all making boat loads of money.

  22. ndyreidsmustache says:
    May 28, 2020 at 2:26 pm
    touchback6 says:
    May 28, 2020 at 12:15 pm

    It’s the Joe Flacco Effect from bozo the clown Ozzie Newsome not having him paid prior to the 2012 season. If you wait, you lose. KC should have had him paid based on projected ceiling.

    ========

    A few things:

    -Flacco was on a contract year, Mahomes still has two years (one of those being the option year).
    -Mahomes has done in two years as a starter what Flacco couldn’t do in several
    -Ray Lewis was already going to retire, freeing money up for Flacco, so (at the time) it seemed more feesable. KC at least has a few years to get their ducks in a row, maybe losing Chris Jones or maybe not.

    The only comparison PM and Flacco have are that they both have a ring, Mahomes actually pulling the weight in his victory. After that, absolutely none.

    1 2

    ——

    But, they were already sold him after 2018. Why wait?

    It is very simple math. His cap hit as it sits right now is 24 million in 2021. That’s just the money that has been pushed out already.

    If he signs a deal right now, they go way over the cap in 2020 with cuts coming. The league said 30-80 mil cap reduction next year!

    They’re cooked in 2020 and 2021, right out of the gate. They will be ina rebuild for years and years with NE with cap control and 114 in cap space in 2021.

    You just got the tables flipped on ya. Stidham could easily be as good
    as Mahomes, too, and BB won’t wait to pay like KC did.

  23. The assumption that cap hell is inevitable is exactly my point. Other teams past failures aren’t an indication of future results for any team, including the Chiefs. Brett Veach is an absolute wizard GM. If anybody can make it work, it’s him.

    —————————————————————

    Wishful thinking. The rules are the same for everyone. To think paying him 40 mil a year based upon what you are paying him now, and by the way your are already in a tight cap situation, will not impact the cap and change thins is not realistic.

  24. “Stidham could easily be as good as Mahomes”. Guess who’s state recently reopened retail marijuana store stores?

  25. “The assumption that cap hell is inevitable is exactly my point. Other teams past failures aren’t an indication of future results for any team, including the Chiefs. Brett Veach is an absolute wizard GM. If anybody can make it work, it’s him.”

    Or they do what Belichick did with Brady and keep restructuring the contract every 2-3 years to extend and put off money into the future. If the player helps out a bit by doing so they can push cap hell 10-15 years into the future. At some point they’ll have to pay the piper in full but it doesn’t have to be in the next couple years.

  26. My favorite QB in the league is Tom Brady. My 2nd favorite (it appears) is Jarret Stidham. Then comes Patrick Mahomes. How do you not like this kid?

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