The Kansas City Chiefs selected Patrick Mahomes, one of the greatest quarterbacks of all time, with the #10 overall first-round pick in the 2017 NFL Draft. Mahomes became the first quarterback in history to pass for over 5,000 yards in a single season while playing in the NFL and college, both at Texas Tech. He made NFL history by becoming the first player to throw for 5,000 yards and 50 passing touchdowns in a single season. He received the NFL Offensive Player of the Year and NFL Most Valuable Player awards, along with being named for the Pro Bowl and the first team of the All-Pro team.
Mahomes has led the Chiefs in six consecutive AFC Championships and four Super Bowl appearances since 2018. The three-time Super Bowl Champion in 2019, 2022 and 2023, due to which he is counted among the five quarterbacks in NFL history to have started and won three or more Super Bowls. He was also the Super Bowl MVP in the latter three. Sports journalists have praised Mahomes widely for his career accomplishments over his seven NFL seasons. Intrestingly, in 2022, he also won the NFL MVP with the Super Bowl MVP, making him the first player to win both an NFL MVP and a Super Bowl MVP in the same year since Kurt Warner in 1999.
Patrick Mahomes Contract Breakdown
The Kansas City Chiefs and Patrick Mahomes agreed to a 10-year, $450 million contract extension in 2020 that includes a $10 million signing bonus, a $141 million guarantee, and an average salary of $45 million per year, as per Spotrac. The contract extension was restructured in late 2023, as per which Mahomes will get a record $210.6 million over the course of four years, from 2023 to 2026, and is also the largest in NFL history. The restructured amount is divided throughout the ten-year contract.
| Contract Terms | Avg Salary | Signing Bonus | GTD at Sign | Total GTD | Free Agent |
| 10 yr(s) / $450,000,000 | $45,000,000 | $10,000,000 | $63,081,905 | $141,481,905 | 2032 / UFA |
| Year | Age | Status | Base Salary | Signing | Restructure | Roster | Workout | Cap Hit | Cap % | Dead Cap |
| 2020 | 25 | Active | $825,000 | $4,521,508 | - | - | - | $5,346,508 | 2.70% | $64,953,413 |
| 2021 | 26 | Active | $990,000 | $2,000,000 | $4,343,381 | - | $100,000 | $7,433,381 | 4.07% | $99,506,905 |
| 2022 | 27 | Active | $1,500,000 | $2,000,000 | $4,343,381 | $27,400,000 | $550,000 | $35,793,381 | 17.19% | $130,673,524 |
| 2023 | 28 | Active | $1,325,556 | $6,114,888 | $6,743,381 | $22,400,000 | $550,000 | $37,133,825 | 16.52% | $151,281,139 |
| 2024 | 29 | Active | $9,850,000 | $6,114,888 | $12,143,381 | $7,900,000 | $1,000,000 | $37,008,269 | 14.49% | $113,596,314 |
| 2025 | 30 | Active | $16,650,000 | $4,114,888 | $12,143,381 | $32,350,000 | $1,000,000 | $66,258,269 | 24.24% | $77,838,045 |
| 2026 | 31 | Active | $45,350,000 | $4,114,888 | $7,800,000 | $10,400,000 | $1,000,000 | $68,664,888 | 23.48% | $29,229,776 |
| 2027 | 32 | Active | $45,800,000 | $4,114,888 | $7,800,000 | $6,100,000 | $1,000,000 | $64,814,888 | 20.71% | $17,314,888 |
| Potential Out: 2028, 8 Year, $327,933,541; $5,400,000 Dead Cap | ||||||||||
| 2028 | 33 | Active | $17,975,000 | - | $5,400,000 | $8,200,000 | $1,000,000 | $32,575,000 | 9.73% | $5,400,000 |
| 2029 | 34 | Active | $8,000,000 | - | - | $25,975,000 | $1,000,000 | $34,975,000 | 9.76% | - |
| 2030 | 35 | Active | $30,625,000 | - | - | $13,900,000 | $1,000,000 | $45,525,000 | 11.88% | - |
| 2031 | 36 | Active | $37,550,000 | - | - | $9,825,000 | $1,000,000 | $48,375,000 | 11.80% | - |
| 2032 | 37 | Void | $60,000,000 | - | - | - | - | $60,000,000 | - | - |
| 2033 | Void | $60,000,000 | - | - | - | - | $60,000,000 | - | - | |
How much is Patrick Mahomes getting paid?
In the 2024 season, Patrick Mahomes will have a base salary of $9.85 million, a workout bonus of $1 million, a roster bonus of $7.9 million and a restructure bonus of $27 million, leading to a cap hit of $37 million and a dead cap value of $113 million. His average annual earnings are $45 million, as per Spotrac.
How much money does Patrick Mahomes make a minute?
Patrick Mahomes will earn $36,282 per minute for the 1,020 minutes he plays in the 17 regular season games, based on his total earnings for the 2024 season. Similarly, throughout the course of a ten-year contract, he will make $41,186 per minute.
Also Read: Who are Patrick Mahomes' Parents?
Patrick Mahomes Career Earnings
Patrick Mahomes' total career earnings are $136 million as of August 2024, according to Spotrac.
What are the terms of Patrick Mahomes Contract?
The original terms of Mahomes and Chiefs' 10-year contract extension were restructured in late 2023, as explained in the table below:
| Year | Base Salary | Signing | Roster Bonus | Workout Bonus | Guarantee Details | Additional Terms |
| 2020 | $825,000 | $63M | - | - | Fully guaranteed at signing | - |
| 2021 | $990,000 | - | $21,716,905 | - | Fully guaranteed at signing | - |
| 2022 | $1,500,000 | - | $27,400,000 | - | Fully guaranteed at signing | - |
| 2023 | $1,325,556 | $20.574M | $22,400,000 | $550,000 | Fully guarantees 3/19/2021, Total GTD $133.7M | $100M dead cap |
| 2024 | $8,600,000 | - | $34,900,000 | $1,000,000 | Fully guaranteed at signing, Roster & Workout guarantee 9/20/2023 | Paid out 5/5/2024 |
| 2025 | $16,650,000 | - | $32,350,000 | $1,000,000 | Salary & Workout guarantee 3rd league day of 2025 | Paid out 5/5/2025 |
| 2026 | $45,350,000 | - | $10,400,000 | $1,000,000 | Salary, Workout & Roster bonus guarantee 3rd league day of 2025 | Paid out 5/5/2026 |
| 2027 | $45,800,000 | - | $6,100,000 | $1,000,000 | Salary, Workout & Roster bonus guarantee 3rd league day of 2026 | Paid out 5/5/2027 |
| 2028 | $17,975,000 | - | $8,200,000 | $1,000,000 | Salary, Workout & Roster bonus guarantee 3rd league day of 2027 | Paid out 5/5/2028 |
| 2029 | $8,000,000 | - | $25,975,000 | $1,000,000 | Salary, Workout & Roster bonus guarantee 3rd league day of 2028 | Paid out 5/5/2029 |
| 2030 | $30,625,000 | - | $13,900,000 | $1,000,000 | Salary, Workout & Roster bonus guarantee 3rd league day of 2029 | Paid out 5/5/2030 |
| 2031 | $37,550,000 | - | $9,825,000 | $1,000,000 | Salary, Workout & Roster bonus guarantee 3rd league day of 2030 | Paid out 5/5/2031 |
| 2032-33 | Void years for cap/restructure purposes | Automatically void last day of 2029 league year | ||||
Also, in the event that Mahomes is selected as the NFL's MVP and the Kansas City Chiefs advance to the Conference Championship game in the same season, he will earn an additional $1.25 million. If the Chiefs win the Super Bowl and he plays in at least 50% of the snaps during the regular season or the Super Bowl, he will receive an $1.25 million.
Further, the contract also holds a No Trade Clause, which implies that Mahomes cannot be traded to another team without his permission by the Kansas City Chiefs. Mahomes essentially has the ability to veto any deal, which gives him further security and discretion over where he plays.
How much of Patrick Mahomes contract is guaranteed?
The ten-year extension contract of Patrick Mahomes with the Kansas City Chiefs comes with a total guarantee of $141 million, out of which $63 million is guaranteed at signing, as per Spotrac.
Patrick Mahomes Contract History
The Kansas City Chiefs and Patrick Mahomes agreed to a four-year rookie contract in 2017, worth $16.42 million, which includes a signing bonus of $10 million. The amount guaranteed at signing was the total value of the contract being $16.42 million. He also had an average annual salary of $4.1 million.
| Contract Terms | Avg Salary | Signing Bonus | GTD at Sign | Total GTD | Free Agent |
| 4 yr(s) / $16,425,786 | $4,106,447 | $10,086,026 | $16,425,786 | $16,425,786 | 2022 / UFA |
Also check out: Patrick Mahomes' Net Worth
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FAQs on Patrick Mahomes Contract
A. Patrick Mahomes contract with the Kansas City Chiefs, signed in 2020, is a ten-contract extension worth $450 million.
A. In the 2024 season, Patrick Mahomes has a base salary of $9.85 million, a restructured bonus of $27 million, a roster bonus of $7.9 million and the cap hit is $37 million.
A. Yes, Patrick Mahones is the highest paid quarterback as of August 2024.
A. Patrick Mahomes earns $41,186 per minute over the course of 10 years, given that each season has 17 regular-season games (1,020 minutes).
A. As per the terms of the contract, Patrick Mahomes earns an additional $1.25 million for winning Super Bowls.
