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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.
Well, everyone was ridiculing it at first for being too much, then everyone started ridiculing it for Patrick not getting what he was worth when they realized how flexible it is.
Just wait until they have to pay him, they said [Reply]
Originally Posted by RINGLEADER:
His POV is treading perilously close to outright calling players stupid for exchanging happiness with winning for the 5% extra they may get being on a crap team. Why he thinks the players are somehow not intelligent or aware that they’re making this choice is just bizarre at this point.
Also, I don’t remember him having a problem when Brady did the same thing.
Yup.
Mahomes realizes if he wants to be considered the consensus GOAT, he needs the titles. The best way to obtain titles is not bleeding a team dry.
But Florio is really upset that Mahomes isn't located on the Left or East Coast. [Reply]
Mahomes realizes if he wants to be considered the consensus GOAT, he needs the titles. The best way to obtain titles is not bleeding a team dry.
But Florio is really upset that Mahomes isn't located on the Left or East Coast.
The best thing that could have ever happened for his contract situation was winning the Super Bowl last year. Now he can definitely see a path to reach Brady or get close. How to do that? A deal that will enable your team to get the players it needs to be at the top every year. [Reply]
Mahomes contract basically guarantees the full 450,000 because of the early rolling guarantee. So over 10 years that 45 mil a year. Now that is o ly good for 7th in the league right now. But rodgers and Lamar contract both are basically 50 mil a year and both are only guaranteed for 3 years.
So to get 7 extra guaranteed years, at only a 5 mil a year discount is pretty damn good. Mahomes is also #1 in cap hit this year and is #4 in cash this year (Lamar is #1 and daniel jones is #2 because of signing bonus. Watson is #3 because the Browns are idiots.) That's also pretty damn good. Now mahomes is obviously better than pretty damn good but it's not like he's leaving that much on the table comparatively like florio is claiming. [Reply]