Patrick Mahomes was the No. 10 overall pick in the 2017 NFL Draft, but he has proven to be a steal for the Chiefs.
The 27-year-old quarterback is just entering his prime yet he has already established himself as one of the NFL's best passers. He won an MVP in his first season as a starter and a Super Bowl the following year.
Mahomes will likely earn another MVP for his performance during the 2022 season and is hoping to add a Super Bowl to his legacy.
But whether he wins or not, he will be compensated heftily for his services
Mahomes is currently the highest-paid player in NFL history. He is set to make a lot of money over the course of his record-breaking deal with the Chiefs, and it will be hard for any NFL player to justify demanding a contract similar to his.
Just how much is Patrick Mahomes' contract worth? Here's everything to know about his finances as he competes in his fifth consecutive AFC Championship Game.
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Patrick Mahomes contract details
Mahomes is in the first year of a 10-year, $450 million contract that he signed during the 2020 offseason to make him the highest-paid player in NFL history.
Mahomes is set to make an average of $45 million per season as a part of his contract and will have a cap hit of at least $41.95 million in each season through 2031. He will be 36 by the time his deal expires.
Below is a breakdown of his contract, including his base salary, bonuses and cap hit, per Spotrac.com.
| Year | Base salary | Total bonuses | Cap hit |
| 2022 | $1,500,000 | $34,293,381 | $35,793,381 |
| 2023 | $5,500,000 | $41,293,381 | $46,793,381 |
| 2024 | $2,500,000 | $41,793,381 | $44,293,381 |
| 2025 | $2,500,000 | $43,793,381 | $46,293,381 |
| 2026 | $2,500,000 | $39,450,000 | $41,950,000 |
| 2027 | $10,000,000 | $49,950,000 | $59,950,000 |
| 2028 | $13,000,000 | $31,450,000 | $44,450,000 |
| 2029 | $20,500,000 | $24,450,000 | $44,950,000 |
| 2030 | $27,000,000 | $23,450,000 | $50,450,000 |
| 2031 | $38,000,000 | $14,450,000 | $52,450,000 |
It should be noted that the Chiefs can move on from Mahomes for a dead-cap hit of just over $4.3 million in 2025 and they can release him without any dead money at all from 2026 onward. That is highly unlikely to happen barring a significant regression or injury to the team's star quarterback.
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Patrick Mahomes career earnings
Mahomes may have the NFL's largest contract at this time, but his career earnings are not yet among the league's highest.
Mahomes has earned$76,904,472during his career to date. That ranks 76th all time among NFL players, one spot ahead of Broncos safety Kareem Jackson ($76,680,351) and one spot behind Bills guard Rodger Saffold ($77,071,073).
Incredibly, Mahomes doesn't even have the highest career earnings among players currently on the Chiefs. Defensive ends Carlos Dunlap ($81,140,148) and Frank Clark ($79,013,295) rank 67th and 72nd all time respectively.
That said, Mahomes is going to continue climbing up the list, according to Spotrac.com's projections. He will vault into the top 10 by 2026 and will have the third-highest career earnings in NFL history by 2030. At that point, he will trail only Russell Wilson and Aaron Rodgers for the top title.
Of course, much will occur over the next decade that will change those projections. But either way, Mahomes will be on a clear upward trajectory for the duration of this deal.
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Patrick Mahomes net worth
According to Celebrity Net Worth, Mahomes' net worth is $40 million. This may seem like a low-ball number, but it must be noted that Mahomes is in just the first year of his $45-million-per-year deal, so he hasn't yet seen most of the money that the Chiefs will owe him.
Additionally, Mahomes has invested in several sports teams including MLB's Royals, MLS' Sporting Kansas City, NWSL's Kansas City Current and a professional pickleball team in Miami. He also invested in several Kansas City and Missouri-based Whataburger franchises in 2021.
As such, it makes sense that Mahomes' net worth would come in below his career earnings to date. Both numbers should increase substantially in the next couple of years as Mahomes gets deeper into his lucrative deal.
(Getty Images)
NFL's highest-paid quarterbacks
Mahomes is the NFL's highest-paid quarterback in terms of the total value on his contract. His isn't just the only deal league-wide that exceeds $400 million in total value; it also is the only one to exceed $300 million.
Below is a look at the 10 largest quarterback contracts in the NFL, per Spotrac.com:
| Rank | Player | Value |
| 1 | Patrick Mahomes | $450 million |
| 2 | Josh Allen | $258 million |
| 3 | Russell Wilson | $242.6 million |
| 4 | Kyler Murray | $230.5 million |
| 5 | Deshaun Watson | $230 million |
| T-6 | Dak Prescott | $160 million |
| T-6 | Matthew Stafford | $160 million |
| 8 | Aaron Rodgers | $150.8 million |
| 9 | Matt Ryan | $150 million |
| 10 | Jared Goff | $134 million |
That said, a few quarterbacks have passed Mahomes in terms of the average annual value (AAV) that they are making as part of their deals. Aaron Rodgers currently is making about $50.3 million, which is good for the most in the NFL.
Below is a look at the 10 largest quarterback contracts in terms of AAV league-wide:
| Rank | Player | AAV |
| 1 | Aaron Rodgers | $50.3 million |
| 2 | Russell Wilson | $48.5 million |
| 3 | Kyler Murray | $46.1 million |
| 4 | Deshaun Watson | $46 million |
| 5 | Patrick Mahomes | $45 million |
| 6 | Josh Allen | $43 million |
| 7 | Derek Carr | $40.5 million |
| T-8 | Dak Prescott | $40 million |
| T-8 | Matthew Stafford | $40 million |
| 10 | Kirk Cousins | $35 million |
So, when considering the AAV of Mahomes' deal, it seems like he was a steal for the Chiefs. It will be interesting to see if any more quarterbacks jump him in that category over the coming offseasons.
But as it stands, it's hard to imagine any NFL players — save for maybe Joe Burrow — challenging the total value of Mahomes' deal.
Insights, advice, suggestions, feedback and comments from experts
Patrick Mahomes' NFL Career and Contract
Patrick Mahomes, the 27-year-old quarterback for the Kansas City Chiefs, has established himself as one of the NFL's best passers. He was the No. 10 overall pick in the 2017 NFL Draft and has proven to be a steal for the Chiefs. Mahomes won the MVP in his first season as a starter and a Super Bowl the following year. He is currently the highest-paid player in NFL history, with a 10-year, $450 million contract signed during the 2020 offseason. His average annual salary is $45 million, and his contract will run through 2031, when he will be 36 years old.
Patrick Mahomes' Contract Details
- Mahomes' contract is worth $450 million over 10 years, making him the highest-paid player in NFL history.
- His average annual salary is $45 million, and his contract will run through 2031, when he will be 36 years old.
- The Chiefs can move on from Mahomes for a dead-cap hit of just over $4.3 million in 2025, and they can release him without any dead money from 2026 onward.
Patrick Mahomes' Career Earnings
- Mahomes has earned $76,904,472 during his career to date, ranking 76th all time among NFL players. However, his career earnings are projected to increase substantially, and he is expected to have the third-highest career earnings in NFL history by 2030.
Patrick Mahomes' Net Worth
- According to Celebrity Net Worth, Mahomes' net worth is $40 million. This figure may seem low, but it is important to note that Mahomes is in just the first year of his $45-million-per-year deal, and he has invested in several sports teams and franchises, which are expected to substantially increase his net worth in the coming years.
NFL's Highest-Paid Quarterbacks
- Mahomes is the highest-paid quarterback in terms of the total value of his contract, which exceeds $400 million. He is also among the top five quarterbacks in terms of average annual value (AAV).
In summary, Patrick Mahomes' career and contract details reflect his exceptional success and financial standing in the NFL, making him one of the most prominent and well-compensated players in the league.
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