Patrick Mahomes made history in September 2020 when he signed a massive contract extension with the Kansas City Chiefs. The extension is worth $450 million over 10 years. This brings the total contract value to $503 million over 12 years, when adding to the two years that were left on his previous deal.
When Mahomes signed the deal, his $45 million average annual value (AAV) was the highest in NFL history. The total value of his contract is not only the highest in NFL history, but in all of American sports. The deal is also the second-largest across sports, trailing only Lionel Messi. Messi once signed a $674 million contract with FC Barcelona.
Mahomes' contract looks massive at first glance. But when compared to some of the newer quarterback contracts being signed recently, he may be underpaid. He still owns the record for total value, but has fallen to fourth place in AAV.
Aaron Rodgers currently holds the top spot with $50.3 million. This isn't entirely surprising, as Rodgers has won the NFL MVP award for the last two seasons with the Green Bay Packers.
Two other quarterbacks surpassed Patrick Mahomes in AAV during the 2022 NFL offseason when they signed contract extensions. Deshaun Watson will earn $46 million in AAV with the Cleveland Browns and Kyler Murray $46.1 million with the Arizona Cardinals.
While Watson and Murray are great quarterbacks, they are certainly not at Mahomes' level. The two have combined to win just one career playoff game and neither of them have been selected as an All-Pro. They have also never won an NFL MVP award or a Super Bowl ring. Mahomes has done all of that and more in just four years as a starting quarterback. His career average quarterback rating is a record-holding 105.8. So perhaps he should ask the Chiefs for a payrise.
Patrick Mahomes' career accomplishments
Patrick Mahomes is the fastest quarterback ever to reach 50 wins, needing just 63 starts to do so. He has been selected to the Pro Bowl in each of his four seasons as a starting quarterback. He has also been chosen to two All-Pro teams and won an NFL MVP award.
Mahomes has made the playoffs in four consecutive seasons, while accumulating an impressive 8-3 postseason record. He has won two Conference titles and a Super Bowl ring, while also being named the Super Bowl MVP. He has accomplished more than Watson and Murray combined, while being the same age as Watson and just two years older than Murray.
Mahomes will enter the 2022-23 season without star receiver Tyreek Hill, who has been traded to the Miami Dolphins. Though they have solid replacements in JuJu Smith-Schuster and Marquez Valdes-Scantling, many think the loss of Hill could impact the Chiefs significantly.
It is normally a mistake to underestimate a talent like Patrick Mahomes. Bookmakers certainly haven't, as the Chiefs are among the favorites for this year's Super Bowl.