Patrick Mahomes deal has $477 million in “guarantee mechanisms”

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More details are emerging regarding the Patrick Mahomes mega-deal. And they are confusing.

Mahomes’ agency, Steinberg Sports, has disclosed that the 10-year extension has a value of $503 million. The agency also says that the deal includes $477 million in “guarantee mechanisms and ability to have outs if guarantee mechanisms aren’t exercised.”

That last part amounts to new terminology as far as NFL contracts are concerned. It sounds like rolling guarantees that apply to each and every season, forcing the Chiefs to commit to Mahomes early in a given offseason, presumably in March. If they don’t want to make the commitment for the next season in any given offseason, they’d have to cut him and he’d become a free agent.

As to the claim that the 10-year extension has a value of $503 million, it’s far more likely that the $503 million refers to the 12-year value of the deal, including the amounts he already was due to earn this year and next year. Indeed, if the 10-year extension itself had a value of $503 million, it would have been leaked as such, since it would result in a new-money average of $50.3 million per year.

The bottom line is that, in order to determine the true bottom line of the deal, we need to get the full contract. Efforts are underway to eyeball every nook and cranny of the deal in order to best understand it, from the team’s perspective and from the player’s perspective.

59 responses to “Patrick Mahomes deal has $477 million in “guarantee mechanisms”

  1. Just wait until Josh Allen gets his second contract, 20 years $800 billion because he is a powerhouse stud

  2. Ok, so signing wentz early was a good idea. The cowboys better hope Dak doesnt have a big season..

  3. If I’m a Chiefs fan I’m happier than hell, but as a raider fan that means he’s going to torture us for another 10 years at least, I despise the Chiefs but I cannot say one bad thing about Patrick Mahomes, the league hasn’t seen an arm like this since Dan Marino in 1983

  4. LOL, what’s Dak gong to ask for now? I’m sure he’s shelved that idea of a 35 mill per year average by now.

  5. That’s the team spirit! That team will be dismantled in 2 years. Thanks Patrick!!

  6. Dude is a presnap penalty by dee ford from having 2 straight super bowls in his first 2 years of starts.

  7. I wish I had the time to spend every single moment of my day obsessing about the details of this contract.

  8. Stop bringing up Dak. Dak hasn’t won squat! And Jerry won’t blow his cap for ONE player Especially an Average player. Can’t win without a team KC so good luck now. This is why there needs to be Caps at the positions. 50 mil per every 6 months to play a game is ludicrous! This just makes them more divas and entitled to call their own shots. Going to have a league full of Cam Newtons and fashion queens to go along with laziness because they banked and never have to work now. Errrr. play.

  9. Perhaps too much pressure on a 24 year old? Last 2 years he was on a rookie scale and played like he had nothing to lose. Now he has 503 million things to lose. Will it affect his play?

  10. If I were a player at another position I wouldn’t like this contract. QB salaries have grown way out of proportion with the rest of the positions. It’s not uncommon for a QB to 15% of the cap. That will continue to grow which means all those other players will have to settle for less. People like Clowney, Bell, Ngakoue and others are going to have less to go around. In the future I wouldn’t be surprised if you have one team that will have 50% of their salary tied up in their QB and will be forced to pay over half their team the league minimum. The middle class in the NFL will shrink

    But really…$503M? I wonder how long it will take before other players start resenting the QB making all their money and leaving less for them. I also don’t think it’s conducive to sustaining a winning team when you have one person taking up that much of the cap.

  11. Good for Mahomes, I never begrudge anyone for getting there’s. That said from a salary cap standpoint we are headed further and further into dividing players into haves and have nots. Or rather QB’s and everybody else.

  12. So much for the goofy Raider’s rebuild.

    #tenmoreyearsoflastplace

  13. Who knew one position in the NFL will ruin the sport. I am all for players getting paid but $477 millions is enough for generations not just Patrick. And these NFL owners are making too much if they can pay that amount. NFL Owners stop gouging NFL fans.

  14. Can’t wait to see Gruden’s face when he loses to the Raiders for the next ten years!

  15. A guy gets half a billion to toss a football around and we pay teachers, police and nurses less than $50k a year. Says a lot about this country.

  16. Unbelievable. Now EVERY QB that has 2 good years is going to ask for that sorta Atomic Bomb contract to the franchise. Love the kid, but boy…that’s a lotta coin.

  17. Worth it, too. Merchandise alone, he’s a winner for KC. He’s only going to get better.

  18. Good chance that the Chiefs have a different name by ty the time this contract ends. Also, very likely no more then one more SB win during the life of this contract.

  19. I wonder how the refs will take this … I bet the Chiefs’ OL will be called for holding a lot this year.

  20. But really…$503M? I wonder how long it will take before other players start resenting the QB making all their money///////

    It should have already happened 5 years ago. I think now it can no longer be ignored.
    I have wondered how Kirk Cousins can walk around the Vikings locker room with his head held high making 30 plus million a year and Dalvin Cook makes $1.3 million. Or Eric Kendricks making $10 million being All Pro. Danielle Hunter doesn’t even make half of what Kirk makes. Not just Cousins but he is one of them. The owners are ruining the game. The running backs were the first to feel it because of the QB position but they won’t be the last one.

  21. It won’t be long until the NFL hands out baseball type contracts. $500 million… to be paid out over the next 30 years.

  22. He is a great guy and I am happy for him. But, thinking rationally, would you rather have Mahomes at half a billion dollars or a nearly as good Haskins at the rookie minimum and be able to afford Chase Young and Terry McLaren? Seems obvious: three pro bowl talents > one.

  23. The Raiders fans should not have spread hate when they lost Khalil Mack. Hope they enjoyed their Superbowl in London last season when they beat the Bears by 3 points.

  24. A lot of money for a guy who hasn’t played well in a single super bowl…

  25. Guys are posting like hus average salary will be his cap charge every year. That’s not how this works. He probably gets $65 million in 2031. By the time his cap number starts to hurt the Chiefs he may have two or three more rings.

  26. Can’t wait for the “Aaron Rodgers is Holding Out for a New Contract,” headline.

  27. “… Patrick Mahomes, the league hasn’t seen an arm like this since Dan Marino in 1983.”

    Rodgers’ arm is pretty special.

  28. I love watching Mahomes, and I’m happy for him.

    That being said, the QB market just flipped on its head. Prescott must be salivating. As a bears fan, I now fear, not wish for, Trubisky having a good year. If he rebounds, will he get $35M as a subpar QB?

    This contract is great for Mahomes, maybe even the Chiefs (in 5 years, this might look like a steal), but it’s bad for every other team that doesn’t have Mahomes.

  29. The 2020 salary cap is 192.8 million…so Mahomes has 25% of the Chiefs payroll?

  30. If he’s smart the guarantees are all early in the league year and are for money in the following year meaning that in March 2024 his 2024 league year money is already fully guaranteed from 2023 and now they are deciding to guarantee his 2025 money.

  31. Chiefs Chop Chiefs Chop says:
    July 6, 2020 at 7:14 pm
    Dude is a presnap penalty by dee ford from having 2 straight super bowls in his first 2 years of starts.
    —————————————

    He’s also a 3rd and 15 blown coverage Hail Mary away from having zero

  32. Great and well deserved for Mahomes, but for the rest of us, who cares? If they paid him $30 million per year or $100 million, it wont effect any one of us.

  33. This is another reason why people respect Brady more than any other QB He wasnt all about the money

  34. That General Manager needs to be FIRED. There is no way to build a team around him now. There is only so much money allowed to go around. Geeezzzzzzzzz, but the only thing I am hearing that I like is the Chiefs have the option every year to keep him or cut him. Now that was smart right there. Because this is not going to continue with him running all over the place before one of these grown man knocks his block in the dirt. It happens to all of the QB’s sooner or later and now that he is paid that much the offensive line might just miss a block every so often since there is no money for them. But hey good for him and I would take it to if they was that dumb to give it away.

  35. Sorry, but that’s crazy money for a non-essential worker. Great for him and others ready to negotiate, but that’s a stupid contract. Why pay them so much? Is he worth 500 times the salary of a teacher, or nurse? Nope. If the NFL set a salary scale of a max of $1 million per player, all of the players would be very happy. They are less valuable than the essential workers who are barely making minimum wage. It’s obscene.

  36. You gotta love all of the expert fortune teller predictions. What we do know is the Chiefs FINALLY just locked up a franchise QB for the long term and he’s a pretty good one at that. Nice job Chiefs! Let’s get a few more..

  37. And that’s just football money…that money more than doubles in endorsements over that same time. He’s going to retire a billionaire before it’s over.

  38. Can’t wait to see Gruden’s face while he loses to the *Chiefs for the next ten years!!

  39. Congrats to Pat on reaching the American Dream. Contracts like this are only possible when the NFL puts the game of football ahead of all other distractions. Respect the fans and make out like kings; stick to the plan and win more rings.

  40. Would you rather have Mahomes? Or your teams starting QB and your best player. I would take Mahomes, and I think every GM in football would too if he hit free agency. I might even take him over the 3 best players on any team. QB stability is the only way to build a dynasty. Good for him and good for the Chiefs.

  41. mortyglickstein says:
    July 6, 2020 at 8:37 pm
    Great and well deserved for Mahomes, but for the rest of us, who cares? If they paid him $30 million per year or $100 million, it wont effect any one of us.
    ———-
    That’s true but it’s not about Mahomes’ bank account effecting us, it’s about the fact that a QB has 25% of his team’s cap, and this will now trickle down to all other QBs wanting a new deal, and overall it’s going to cripple rosters and quality of play.

  42. Russell Wilson only makes 35 million.

    What a great guy giving the Seahawks such a team-friendly contract.

  43. pkrlvr says:
    July 6, 2020 at 7:48 pm
    A guy gets half a billion to toss a football around and we pay teachers, police and nurses less than $50k a year. Says a lot about this country.
    ——-
    Yeah. It says we are a capitalist country where those that participate and are critical in an industry that makes multiple billions per year can make millions while those un non profit careers don’t. What’s the problem here?

  44. Now every QB after a few good years will demand this insane amount of money. And the rest of the positions will get left out.

    It’s now fully a QB league.

  45. Just think how good this will be for smart GMs. Get a cheap QB while other teams are paying 25% of the cap for their QBs. The cap for other positions are gonna crash the floor. Trent Dilfer wannabes are winning Super Bowls left and right and Maholmes might get 1 or 2 more, depending how fast this contract spreads. Prescott first, then Allen, then the rest of the young guns. We are talking 3 years till at least 10 QBs are looking for 40 million or more.

  46. pkrlvr says:

    A guy gets half a billion to toss a football around and we pay teachers, police and nurses less than $50k a year. Says a lot about this country.
    $$$

    Says the fan of the team that has twice made Aaron Rodgers the highest paid player in NFL history… Aaron’s last deal had the Packers write checks for nearly $80,000,000.00 in the first 12 months of his new deal.

    Mahomes won’t see $80,000,000.00 in the first 3 years of his new deal.

    I don’t think that QB’s are worth what they are getting paid either, but it’s just ironic how a Packer fan would complain about this when they have one of the greediest QB’s to ever play the game on their roster.

  47. Yet the stadium workers are told there’s no money for raises. Be happy with your 7.50 an hour. Now you know why so many of the young are out in the streets acting a fool. I will pass on all professional sports. I’m an adult we have a killer pandemic we should be focused on. Playing a child game is not important.

  48. RamblinRandall says:
    July 6, 2020 at 9:01 pm
    This is another reason why people respect Brady more than any other QB He wasnt all about the money

    43 18 Rate This

    —————

    Well, until the last 2 years when it was.

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