Comparing, contrasting the Patrick Mahomes, Josh Allen deals

USA TODAY Sports

Last year, quarterback Patrick Mahomes signed a 12-year contract with the Chiefs. This year, quarterback Josh Allen signed an eight-year contract with the Bills. Let’s take a look at the similarities and the differences.

Both deals use so-called “guarantee mechanisms,” a process of rolling triggers that will (beyond the amount guaranteed at signing) provide security for typically two seasons into the future. That makes it harder for the team to have the kind of year-to-year flexibility that the Packers currently have with Aaron Rodgers.

The Mahomes contract has a base value of $477.631 million over twelve years. (Widely characterized as a half-billion-dollar contract, Mahomes needs to hit various incentives to reach that number.) That equates to an average of $39.8 million at signing. (The extension has a base value of $450 million over 10 years, creating the new money average of $45 million.)

The Allen contract has a base value of $284 million over eight years. That equals to an average of $35.5 million at signing. (The extension has a base value of $258 million over six years, creating the new money average of $43 million.)

Mahomes received a $10 million signing bonus. Allen gets $16.5 million to sign.

Mahomes had $63 million fully guaranteed at signing. Allen gets $100 million fully guaranteed at signing.

It’s also useful to compare the deals based on year-by-year cash flow.

For year one, Mahomes got $10.825 million. Alen gets $20 million.

For year two, Mahomes gets $22.8 million ($33.625 cumulative). Allen gets $47 million ($67 million cumulative).

For year three, Mahomes gets $29.45 million ($63.075 million cumulative). Allen gets $28 million ($95 million cumulative).

For year four, Mahomes gets $40.45 million ($103.525 million cumulative). Allen gets $30 million ($125 million cumulative).

For year five, Mahomes gets $37.95 million ($141.475 million cumulative). Allen gets $39.5 million ($164.5 million cumulative).

For year six, Mahomes gets $41.95 million ($183.425 cumulative). Allen gets $38.5 million ($203 million cumulative).

For year seven, Mahomes gets $41.95 million ($225.375 million cumulative). Allen gets $40 million ($243 million cumulative).

For year eight, Mahomes gets $59.95 million ($285.325 million cumulative). Allen gets $41.55 million ($284.55 million cumulative).

After that, Allen’s contract ends. Mahomes has four years left, at another $192.3 million.

The early cash flow for Allen is vastly superior to the Mahomes contract. Mahomes eventually catches up. Through eight years, Mahomes will make $285.325 million ($35.6 million per year), and Allen will make $284.55 million ($35.57 million).

The difference in the full-contract average value comes from the final four years of the Mahomes deal, during which he’ll average $48.075 million per year.

If both continue to play the way they have performed to date in their careers, both will eventually get new contracts. For now, though, Allen emerged with a shorter commitment and far more cash over the first four years of the contract.

24 responses to “Comparing, contrasting the Patrick Mahomes, Josh Allen deals

  1. There’s one thing neither of these guys are ever going to have to worry about. Money. Whether they sign the best or the worst contract in history, both men will have thousands of times over, the money they’ll ever need. And when you sign those really long term contracts, you rarely play out the entire deal. There will be plenty of changes made. If the salary cap increases more than expected, and these two become some of the lowest paid QB’s in the league, does anyone really believe they won’t re-do those deals? It’s fun, but meaning less to try to analyze these lengthy deals. It’s probably more fun if you’re an agent or a lawyer, than just a regular football fan. The Bills and the Chiefs have their meal tickets for the forseeable future. They’re not going to mess around with that.

  2. Chances are slim and none that either contract will reach maturity. That’s why I think Allen has the better deal. He gets more $$ in the first part of his. Far more likely that the contracts go 3-5 years or sooner before restructuring for CAP and team salary considerations.

  3. Mahomes Representatives truly failed him because even if he wanted to take less to help sign other players there was nothing stopping his contract from getting Guaranteed like Kirk Cousins or at least 95% of it. Also getting an OPT-OUT clause every 2 yrs so you can see where the market is at should have been automatic .

    I’m quite sure that they will restructure the minute Mahomes Reps want to have that talk since the last thing they want to do is tick off & risk losing the best player EVER for that franchise.

  4. Allen gets more money early, Bills save on any potential dead cash at the end. Great trade off.
    The dead cash at the end of Allen’s contract is much more positive for the Bills, and gives the Bills major protection if something were to go wrong.

  5. I will say it again, the Chiefs fleeced Mahomes. The only great thing about his deal is that he has guarantee mechanism’s 2 years in advance.

  6. Even if Mahomes wanted to take less to help sign other players there was nothing stopping his contract from getting Guaranteed like Kirk Cousins or at least 95% of it. Also getting an OPT-OUT clause every 2 yrs so you can see where the market is at should have been automatic. I’m quite sure that they will restructure the minute Mahomes Reps want to have that talk since the last thing they want to do is tick off & risk losing the best player EVER for that franchise.

  7. No one should sign more than a 4-year contract, just like a rookie deal. This allows the team and the player the freedom to negotiate the next contract so the team is not locked down to a player who played subpar in that course. And player can negotiate a bigger contract if they played better than their worth. Every contract should be a four year term.

  8. Allen’s is definitely better getting more up front as we all know neither guy will reach the maturity of their deal, not in today’s NFL or future state. Good for both of them though, highly paid, highly successful, likable dudes.

  9. Maybe we should remember that Allen, as good as he is, is not in Mahome’s class yet, if ever.

  10. I sure hope allen does some restructuring along the way to keep us competitive in the free agent market

  11. It’s curious what’s being focused on here.
    They’ve both set themselves, their kids and possibly grandkids, for life.
    But actual success on the field? Meh.
    Both contracts are a continuation in series of ongoing failures for franchises committing enormous sums for one player. And no matter how great one may think either of these quarterbacks are, neither are worth that much in terms of perpetuating a dominant run to close out this decade.
    At least the Chiefs won a title already, and Mahomes has played in every AFC championship game as a starter, so there’s success in the bank before the ATM runs out.
    The Bills? They have the next two years before that anchor starts to weigh heavier and heavier on every player personnel mistake they make via the draft or free agency, with their margin of error becoming increasingly smaller.

  12. You have to wonder what Mahomes’ camp was thinking with their contract, with the length of it versus the guaranteed money. Even the Allen deal is pretty long, but superior. These long deals have proven time and time again, that when the player is very good, they benefit the teams – not the players. Shorter term deals with good guarantees maximize the money for the players. The TV contracts for the NFL coming up are going to make these deals look dumb.

  13. It will be interesting to see which QB is better in 5 years. Wouldn’t be shocked at all if it’s Allen.

  14. Where is TB6???

    Must I say it for him? Okay then, Hell! Cap Hell! Cap Hell!

  15. Compare this to the NBA — they have shorter, 100% guaranteed contracts. Which means players have more freedom to change teams and test the free agency market more often, especially since they start playing younger, too.

    So I am waiting for the QB who says “I want a three year, with no franchise tag option, fully guaranteed.” And see what the management response would be.

  16. arrowhead816 says:
    August 8, 2021 at 11:53 am
    Mahomes will receive more money based on his incentives and endorsements.
    ____________________________________________________________
    The chances either of these contracts are completed is super slim… hence Allen makes out better since his contract pays more up front.

  17. come on…its the nfl…contract schmontract
    .
    lets just hope they both continue their careers with the same successes they saw this year.
    .
    both are exciting to watch

  18. So Mahomes took less, so his team could have more. So Mahomes is also better for his team both on and off the field.

  19. Although the obvious is that Mahomes is better, Allen brings some nastiness with his run game. He reminds me of a more athletic, young Roethlisberger. Fearless to the point of sometimes being stupid. As a Dolphins fan of course I don’t want to see him do well, but as a football fan I’d like to see him stay healthy and keep progressing in his career. The Bills have had a nightmare history in the 2000s and 2010s along with my team. With Brady gone hopefully we can have a competitive division for years to come.

  20. I don’t measure QB’s by how much money they make i measure them by how many Super Bowls they take their team too.

  21. There’s no doubt that the length of the Mahomes contract was symbolic. Likely the contract will only last 4 or 5 years tops before it gets renegotiated, I don’t think anyone is denying that. At which point he will have made a similar amount as the Allen contract. It’s symbolic because it’s saying I am planning on being a Chief for as long as you will have me.

  22. What I haven’t read in any of the stories about Josh Allen’s contact is the word Cap and isn’t the percentage the key in how it affects the time?

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