Chiefs Clark Hunt: The Chiefs Will Begin Contract Negotiations W/Mahomes This Summer - Page 6

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Chiefs to Begin Extension Talks with Patrick Mahomes This Summer

The Chiefs plan to begin contract extension negotiations with star quarterback Patrick Mahomes this summer, chairman Clark Hunt said Wednesday evening.

“The negotiations are something we’ll be getting into this summer,” Hunt said on a Facebook Live event with 105.3 The Fan in Dallas. “But what he has said and what we’ve said, both sides is, he wants to be a Kansas City Chief for life, and that’s our mentality as well. We want him to play his entire career in Kansas City, and that’s what we’re going to be shooting for.”

Mahomes is currently set to count around $5.3 million against the salary cap in 2020 on the fourth year of his rookie contract, but the expectation is he’ll sign a long-term extension and become the NFL’s highest-paid player given all he has accomplished early in his career.

Mahomes, 24, was named the NFL MVP in a spectacular 2018 and followed that up by leading the Chiefs to a Super Bowl title in the 2019 season, during which he threw for 4,031 yards, 26 touchdowns and five interceptions in 15 games in the regular season.

Hunt knows as well as anyone what Mahomes means to his organization.

“In terms of special qualities, the thing that really struck me in 2018, the first year that he became a full-time starter for us, was his leadership ability,” Hunt said. “We knew he had these special physical gifts. We had seen him on the practice field. We’d seen the no-look throws. We had seen the 70-yard bombs, all that stuff – I’m not sure we had seen the left-handed throw but maybe. But anyhow, we knew we had that. But the pleasant surprise was what a great leader he was at age 23. An NFL locker room is a very difficult place to come into as a young player and lead, but it was very evident that the entire team was looking up to him in his first year as a starter – and of course that carried over into this past season.

“He has a tremendous amount of humility going back to what I said about leadership qualities. So he’s very humble on one hand and very competitive on the other and his teammates all respect him and want to play for him and with him.”
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Originally Posted by JakeF:
How about 18%(of cap)+ performance bonuses each season for Mahomes?

I think the whole cap % contract would be just an awful idea for a team. With 15% he will almost always be the highest paid player and the biggest salary cap hit in football. There would be no more overpay for a year or two and get relief in the cap later due to rising cap space and costs to the position. There would be no more renegotiating of contract to get relief through bonuses being spread out.
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Originally Posted by mnchiefsguy:
Brady's wife makes wayyyyyy more money than he does, so he could afford to take less.

She's worth $600 Million. Her companies she started and owns does BILLIONS is sales every year.

Originally Posted by mnchiefsguy:
Pat's gf don't make nearly that much.

Brittany makes $100K a year.

So we need to fly some banners, get social media activated to get Brittany a big chain of workout centers/gyms so Mahomes can have generational changing money and concentrate on just playing football.
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Originally Posted by jaa1025:
With 15% he will almost always be the highest paid player and the biggest salary cap hit in football.

15%? That is chump change for a QB of Mahomes' ability. 15% is nowhere close to highest paid QB in the league at the moment. In fact it's currently the 9th highest QB salary in the league based on the 2020 salary cap. Would be a salary of $29.7M for 2020 season.

At the time of signing their recent contracts, Russell Wilson and Aaron Rodgers were both around 18.5% of the cap in the year they signed. That's a lot more than the 15% you claim is so outrageous. Matt Ryan is 8th in average salary and he is getting $30M per year, which is currently 14.9% of the cap. At the time Matt Ryan signed his deal in May 2018, it was about 17% of the 2018 salary cap.

You should hope like hell the Chiefs are actually able to get Mahomes on a 15% cap salary. That's a massive discount compared to his actual value.
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So how will the signing bonus portion of the new contract work with respect to the salary cap?

For starters, I am assuming that this is an extension, which means if it is a 5 year extension, Mahomes is under contract for the next 7 years. Correct?

Since $65 million is the current largest signing bonus, I will use $70 million for this example, as it makes the math work easier.

Is the $70 million spread out over 7 years, as I am assuming he gets the $70 million this summer and not in 2 years, for a hit of $10 million per year?

Or is the $70 million only spread out over the 5 years of the extension, at $14 million per year, starting 2 years from now?

Hope this all makes sense.
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Originally Posted by ChiefsFanatic:
Maybe the entire contract will be guaranteed. Say, a 6 year extension at $40 million a year, with a $80 million dollar signing bonus spread out over the full 8 years ,but all of it is guaranteed, which would blow away Goff's $110 million dollars in guaranteed money.

Sent from my GM1915 using Tapatalk

Will probably be shorter than that, especially since they already have him under contract for dirt cheap the next 2 years. A 4-year extension for $160M fully guaranteed would be a pretty solid deal. That's the Kirk Cousins guaranteed contract on steroids.
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Originally Posted by Coogs:
So how will the signing bonus portion of the new contract work with respect to the salary cap?

For starters, I am assuming that this is an extension, which means if it is a 5 year extension, Mahomes is under contract for the next 7 years. Correct?

Since $65 million is the current largest signing bonus, I will use $70 million for this example, as it makes the math work easier.

Is the $70 million spread out over 7 years, as I am assuming he gets the $70 million this summer and not in 2 years, for a hit of $10 million per year?

Or is the $70 million only spread out over the 5 years of the extension, at $14 million per year, starting 2 years from now?

Hope this all makes sense.

Using jared Goff as an example since he signed an extension before his 4th year and after his 5th year option had been picked up.

He had his signing bonus spread out over 5 years even though his extension took him out to a total of 6 years. And he had extra signing bonus money on the first year I'm assuming it was the remainder of his guaranteed salary from his rookie deal.

So I think the signing bonus money can be spread out over the full length starting from the year he signs.
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Originally Posted by tyecopeland:
Using jared Goff as an example since he signed an extension before his 4th year and after his 5th year option had been picked up.

He had his signing bonus spread out over 5 years even though his extension took him out to a total of 6 years. And he had extra signing bonus money on the first year I'm assuming it was the remainder of his guaranteed salary from his rookie deal.

So I think the signing bonus money can be spread out over the full length starting from the year he signs.

Wouldn't that mean Mahomes's cap number will most likely go up significantly this season if they agree to a deal this summer? He is sitting at 5.3 million right now.
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