Patrick Mahomes has cemented his status as an elite NFL quarterback, boasting impressive achievements early in his career. With multiple Super Bowl wins, MVP awards, and a reputation for spectacular plays, it’s natural to wonder about his compensation. So, How Much Does Mahomes Make A Year? Let’s delve into the details of his contract and earnings.
Mahomes’ success has translated into a lucrative career, making him one of the highest-paid players in the NFL. While his average annual value (AAV) might not always top the charts due to the structure of his long-term deal, his total contract value remains a landmark in the league.
Patrick Mahomes on the Field
Patrick Mahomes’ Groundbreaking Contract
In July 2020, Mahomes inked a 10-year extension with the Kansas City Chiefs worth a staggering $450 million. This landmark deal came shortly after he led the Chiefs to victory in Super Bowl LIV against the San Francisco 49ers.
Here’s a snapshot of the key terms of Mahomes’ contract, according to Spotrac:
- Term: 10 years
- Total Value: $450 million
- Average Annual Value (AAV): $45 million
- Guaranteed Money: $141.5 million
At the time of signing, this contract made Mahomes the highest-paid quarterback in NFL history. While other quarterbacks have since surpassed him in terms of AAV, his overall deal remains the richest in NFL history, showcasing the Chiefs’ long-term commitment to their star player.
Restructuring for More Immediate Pay
The Chiefs restructured Mahomes’ contract in 2023 to redistribute his earnings. This adjustment ensured Mahomes would receive $210.6 million between 2023 and 2026. This restructuring bumped his yearly value to approximately $52.65 million, bringing him closer to the earnings of the league’s highest-paid quarterbacks.
NFL Network’s Ian Rapoport reported that Mahomes and the Chiefs are expected to revisit the contract after the 2026 season. This could potentially position Mahomes, who will be 29 at that time, to once again reset the quarterback market and secure an even more lucrative deal.
Patrick Mahomes’ 2024 Earnings
So, what did Patrick Mahomes earn in 2024 specifically?
- Base Salary: $9.85 million
- Total Cash Earned: $45.75 million
While his base salary for the 2024 season was a relatively modest $9.85 million, his total cash earnings reached $45.75 million. The majority of this came from a $27 million restructure bonus, along with $8.9 million in roster and workout bonuses, according to Spotrac.
In 2024, Mahomes’ cap hit was $37.01 million, the second-highest of his career. His cap space is projected to increase to nearly $66.26 million in 2025 unless his contract is restructured again.
How Mahomes Compares to Other Top QBs
To fully understand how much does Mahomes make a year, it’s important to see how his contract stacks up against other highly compensated quarterbacks in the NFL. Average annual value (AAV), total guarantees, and total contract value are key metrics for comparison.
Average Annual Value (AAV)
Mahomes’ initial AAV of $45 million ranks lower than several other top quarterbacks. However, his restructured AAV of $52.65 million for the 2023-2026 period would place him higher in the league rankings. Dak Prescott of the Dallas Cowboys currently leads the NFL with an AAV of $60 million.
Guaranteed Money
In terms of guaranteed money, Mahomes’ $141.5 million trails behind many of his peers. This is another area where the structure of his long-term deal impacts his ranking compared to quarterbacks with more recent contracts.
Total Contract Value
Despite not leading in AAV or guaranteed money, Mahomes remains at the top when it comes to total contract value. His $450 million contract surpasses the second-most lucrative contracts held by Joe Burrow and Trevor Lawrence by a significant margin.
The Future of Mahomes’ Contract
Mahomes’ current contract reflects the Chiefs’ belief in his long-term value. As the NFL salary landscape continues to evolve, it’s likely that Mahomes and the Chiefs will revisit his contract to ensure he remains competitive with the league’s highest-paid players. This potential renegotiation could once again reshape the quarterback market and further solidify Mahomes’ financial standing.
