Patrick Mahomes has three-word reaction to securing new $210,000,000 worth restructured contract with Chiefs

In 2020, Patrick Mahomes made history when he signed a ten-year, $450-million contract extension with the Kansas City Chiefs - the largest in North American sports history by base value.

When incentives are included, this would make him the first athlete ever to earn half a billion dollars.

But on Monday, a day after a bounce-back win against the Jacksonville Jaguars, the defending Super Bowl champions announced that they were restructuring their star quarterback's contract by compressing the eight years' worth of money remaining into three, with the option to renegotiate by 2026.

Mahomes responded to the news on X by expressing his gratitude:

---

Patrick Mahomes contract details

The original contract Patrick Mahomes signed in 2020, while monumental at the time, has become less lucrative when compared to subsequent ones. While it would pay him $45 million annually, with the possibility of incentives if he reached certain targets, Aaron Rodgers began the trend of $50-million annual paydays when he agreed to a three-year extension with the Green Bay Packers in 2022.

After that, Jalen Hurts, Lamar Jackson, Justin Herbert, and Joe Burrow took turns becoming the highest-paid player by annual salary in NFL history. In response, the Chiefs have restructured Mahomes' contract so that he receives $210 million over four years beginning in 2023 (or $52.5 million annually) - the most money within a four-year stretch ever.

When asked about determining his star quarterback's worth chairman Clark Hunt said:

"I don't know that there's really a way to quantify it financially, and no matter what he makes over his career, one way or another, he'll be underpaid."

---

Patrick Mahomes net worth 2023

As of 2023, Patrick Mahomes is estimated to be worth $70 million. Most of that value has been earned from his on-field play with the Kansas City Chiefs, but he has also made a significant amount of money from the endorsements and sponsorships he has attracted as a result of said on-field play.

His most prominent endorsement is with Hunt's ketchup, but he also has deals with the following brands:

• Oakley
• Hy-Vee
• Essentia Water
• Direct TV
• State Farm
• Adidas
• Head & Shoulders
• Helzberg Diamonds

Mahomes also has ownership stakes in Kansas City's other pro sports teams: MLB's Kansas City Royals, and the soccer teams Sporting Kansas City (men) and Kansas City Current (women).