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 duncan_idaho:
Brady dropped out of the top 10 plenty of times. Where was the outcry then?
All the narrative was about how Brady was such a team player, cared more about winning than maxing out his paycheck.
Some people just can't handle looking at the Chiefs and realizing that Mahomes is giving them a huge advantage compared to the Ravens and Bills and soon-to-be Bengals and Chargers.
All those contenders that have a QB good enough to really challenge the Chiefs? Their bills are about to come due, and it's going to make it even harder for them to get over the hump.
assuming this is real, which isn’t certain but let’s play along….. a 12 year contract takes him to 39 years old. How will you ever redo his contract again? This is year 1 of the new one. [Reply]
Mentioned it in the New Heights thread, but Andy made a joke on there about eating at Whataburger to support Mahomes because he doesn't make enough money. :-) No way that wasn't a shot at Florio, and I highly doubt he jokes about that if they are currently redoing Mahomes contract. [Reply]
Originally Posted by BigRedChief:
assuming this is real, which isn’t certain but let’s play along….. a 12 year contract takes him to 39 years old. How will you ever redo his contract again? This is year 1 of the new one.
Right. The length of Mahomes' deal is such that he was destined to lag in AAV from Day 1.
I think many casually perused the deal when it was announced and didn't realize how flexible and advantageous it was to the Chiefs (with Mahomes getting certainty in the form of 2-year rolling guarantees that's even more certain than a big signing bonus). Now that it's starting, they keep waiting for the contract to constrain the Chiefs and are realizing it doesn't. So they shout about it and want the Chiefs to have to do something that WILL be more constraining. [Reply]
Originally Posted by duncan_idaho:
Right. The length of Mahomes' deal is such that he was destined to lag in AAV from Day 1.
I think many casually perused the deal when it was announced and didn't realize how flexible and advantageous it was to the Chiefs (with Mahomes getting certainty in the form of 2-year rolling guarantees that's even more certain than a big signing bonus). Now that it's starting, they keep waiting for the contract to constrain the Chiefs and are realizing it doesn't. So they shout about it and want the Chiefs to have to do something that WILL be more constraining.
Remember when the Broncos, Raiders and Chargers fans said we were doomed because of the ridiculous contract we gave him?
Originally Posted by tatorhog:
Reset the QB market right before Burrow (and to a lesser extent Herbert) gets his contract?
Since their contracts are currently structured with a lower QB cap hit, it could be a savvy move to hurt their chances or retaining all of the receiving weapons they currently have.
Dunno, just a guess
Veach already said they are waiting to see what happens with Burrow and Herbert. I would expect those deals to use the same Void Year shenanigans of other QB deals recently to significantly lower the cap hits. [Reply]
Originally Posted by duncan_idaho:
Right. The length of Mahomes' deal is such that he was destined to lag in AAV from Day 1.
I think many casually perused the deal when it was announced and didn't realize how flexible and advantageous it was to the Chiefs (with Mahomes getting certainty in the form of 2-year rolling guarantees that's even more certain than a big signing bonus). Now that it's starting, they keep waiting for the contract to constrain the Chiefs and are realizing it doesn't. So they shout about it and want the Chiefs to have to do something that WILL be more constraining.
Exactly! The only thing the media talked about when the contract was signed was how Mahomes is the first half-billion dollar player! No one said anything about it quickly becoming less than premium then… and they shouldn’t now. [Reply]
Originally Posted by Mecca:
It's not that it's coastal elites, most fans grew very tired of the Patriots so the Chiefs just replacing them in the "one team always wins" spot is being met with groans.
