Originally Posted by :
When Chiefs quarterback Patrick Mahomes signed his current 12-year contract three years ago, he nudged the bar for the highest average per year (APY) by roughly $10 million, to $45 million annually.
Now, with Ravens quarterback Lamar Jackson at $52 million per year, Mahomes has fallen $7 million per year behind the highest-paid player in the sport.
Chiefs G.M. Brett Veach already has vowed to address the Mahomes deal after more quarterback contracts are completed. While Veach didn’t delve into any specifics, here’s what reasonably should be expected, based on our conversations with folks aware of the dynamics of the situation.
Expect Mahomes, before the season begins, to once again be the highest-paid player in league history.
The details will be interesting, and subject to differing interpretations. Because Mahomes has nine years left on his current contract, a new-money APY in excess of $52 million per year would be obtained simply by tacking three years and a penny more than $156 million on the back end of the existing deal.
The real question will become the value of the contract from the moment it’s signed. Also relevant to the analysis will be the full guarantee at signing, and the cash flow in the first three years of the revised deal.
In 2020, Mahomes swapped a high APY and a complicated but lucrative guarantee structure for cash flow in the years that were most likely to be affected by the pandemic. Now that those days have come and gone, the cash flow can be boosted in the early years of a revised deal.
Whether big-picture proclamations or devilish details, a new deal is coming for Mahomes, sooner than later. He has more than earned it — and with each new quarterback deal that is done, his own situation becomes more glaring. Look for that to at least be partially rectified in the coming weeks or months.
Ultimately, Mahomes is trying to strike the balance of fair compensation with leaving enough cash behind to have a team that lets him pursue championships and, ultimately, to chase Tom Brady’s all-time record of seven championships. Mahomes needs five to tie, six to win.
While not yet a real threat to Brady, Mahomes isn’t far from making things interesting. And that could be enough to get Brady interested in trying to get to No. 8 before it’s all said and done, just in case.
Originally Posted by BigRedChief:
He's part owner of everything he endorses except for State Farm, Adias and Coors light.
All those other ones he is making bank on because the stock price has exploded since he came on board. I forget which one but the ESPN report I saw said he'd made $75 million already in stock off just one product.
He's also a part-owner of every KC sports team in town, except for the Chiefs.
Originally Posted by Stewie:
As expected, Florio is being a little bitch.
Blames Mahomes and his agent for being suckers and Clark Hunt for being cheap and keeping money that should be Patriick's. What a tool.
At the end Florio says again that he'll have a new deal by week 1. He is just convinced that Mahomes is full of shit when he says he wants to play on a good team and not just cash in. [Reply]
You have to love the implied conspiracy regarding the salary cap. According to Florio any money that Patrick doesn't take in a contract goes into the Hunt's pocket. He can't really be that ignorant about the salary cap. What is really pissing him off is the fact that he either doesn't like the Chiefs and hates that we'll have more money to spend on other talent, or he likes another team that has to go through the Chiefs. These are the only things that really make any sense. [Reply]
Originally Posted by Stewie:
As expected, Florio is being a little bitch.
Blames Mahomes and his agent for being suckers and Clark Hunt for being cheap and keeping money that should be Patriick's. What a tool.
Lmao, yeah the team that basically uses all of their cap space every year has a "cheap" owner. Florio is literally butt fucking dumb. It's unbelievable how big of a bitch he is, because Patrick doesn't want to rape the team. At least his contract doesn't have a ton of funny money at the end of it. Also wtf does another man's contract concern that little bitch Florio, anyways? Is anyone else throwing a fit like Florio is? [Reply]
Originally Posted by RedinTexas:
You have to love the implied conspiracy regarding the salary cap. According to Florio any money that Patrick doesn't take in a contract goes into the Hunt's pocket. He can't really be that ignorant about the salary cap. What is really pissing him off is the fact that he either doesn't like the Chiefs and hates that we'll have more money to spend on other talent, or he likes another team that has to go through the Chiefs. These are the only things that really make any sense.
This year they have between $500k-$1 mil in cap space and over the last few years they've been right in the middle of the league in spending. Florio's stupid as shit. [Reply]
Originally Posted by chiefzilla1501:
That's not really how it works. It's not like a bobby bonilla deal where you've guaranteed his money for life. Or a typical nfl contract where a player saddles you with dead money that makes you uncuttable. We structured his 10 year deal to keep him locked in but with the expectation that the deal would change over time
We’ve set a trigger year of 2026. He loses a lot of guarantees which screws him over. And we will owe $59m in cap which I’m sure the chiefs would rather not pay. So reworking his contract is just something he’ll have to do. We are underpaying him so while I’d hope he jntends to keep everything team friendly you can’t blame him for wanting to get paid what he’s worth.
I think if you are Veach/Hunt you pretty much let it be known that Mahomes can choose whatever contract he wants and KC will say 'if that's what you want, you shall receive'.
They aren't going to play hardball with him and for PR purposes they should let it be known it's up to Mahomes how much of the team cap he wants to eat up.
But of course everybody with any sense knows that whatever Mahomes leaves on the table is going to be used to the max to surround him with talent. [Reply]
