Chiefs and Patrick Mahomes agree on 10-YEAR Contract Extension

ralmat55 · Jul 6, 2020

The Chiefs had $6.25 million of cap before this extension. Therefore, the signing bonus can’t be more than $31 million without the Chiefs having to clear additional cap space. Further details will emerge and will be interesting to see.

But, with the agent’s statement that Quantum posted above touting “guarantee mechanisms” (team option bonuses, most likely) rather than actual guarantees, I’m thinking this is more of a window dressing contract than a ground breaking contract when it comes to guaranteed money.

Both the Chiefs and Mahomes camp talked themselves into a corner about getting an extension done this offseason for little more than bragging rights and then the pandemic and resulting Depression hit. Mahomes likely got 3 years of guaranteed money and is financially set for many lifetimes. The Chiefs got to spread the cap hit out some with the cap likely to go down over the next few seasons. And, the agent gets to say he negotiated the first half billion dollar contract in sports history.

maust · Jul 6, 2020

With every megadeal the league is getting closer and closer to creating a a have and havenot's cap scenario. It won't be long before there will be QB's and...everybody else. That's going to have a locker room chemistry impact at some point. It definitely will have an impact on defensive players pulling up on hitting the money man, that's just human nature.

SHOWTIME15 · Jul 6, 2020

TommyBrady12 said:
let's hope 50 million per year lol

Came close, certainly more than the 40 million most people were predicting....

SHOWTIME15 · Jul 6, 2020

lancerman · Jul 6, 2020

maust1013 said:
With every megadeal the league is getting closer and closer to creating a a have and havenot's cap scenario. It won't be long before there will be QB's and...everybody else. That's going to have a locker room chemistry impact at some point. It definitely will have an impact on defensive players pulling up on hitting the money man, that's just human nature.

Honestly as long as the players are still getting millions nobody will care

IcyPatriot · Jul 6, 2020

So can Brady play to 53?

jah · Jul 6, 2020

Laughable money now, but in 10 years it might be a different kind of laughable.

Boomer B · Jul 6, 2020

This deal is actually pretty team friendly after you read the breakdown of it from PFT:

The preliminary Patrick Mahomes contract details - ProFootballTalk

In the first two years, Mahomes will earn $33.361 million. Through the first three years, Mahomes will earn $63.08 million. Through the first four years, Mahomes will earn $103.53 million. By way of comparison, Titans quarterback Ryan Tannehill will earn $118 million over the next four years — and he won’t be tied to his team for another eight seasons.

The Chiefs will have him for pretty friendly rate while the current team is intact and still in their prime.

Here’s the yearly breakdown:

“The deal includes a fairly paltry, given the supposed magnitude of the deal, signing bonus of $10 million. The cash breakdown, regardless of guarantees or “guarantee mechanisms” (whatever those are), is as follows:

1. In 2020: $10.825 million.

2. In 2021: $22.8 million (base salary of $990,000, roster bonus of $21.7 million, and workout bonus of $100,000 in 2021).

3. In 2022: $29.45 million (base salary of $1.5 million, roster bonus of $27.4 million, and workout bonus of $550,000 in 2022).

4. In 2023: $40.45 million (base salary of $5.5 million, roster bonus of $34.4 million, and workout bonus of $550,000 in 2023).

5. In 2024: $37.95 million (base salary of $2.5 million, roster bonus of $34.9 million, and workout bonus of $550,000 in 2024).

6. In 2025: $41.95 million (base salary of $2.5 million, roster bonus of $38.9 million, and workout bonus of $550,000 in 2025).

7. In 2026: $41.95 million (base salary of $2.5 million, roster bonus of $38.9 million, and workout bonus of $550,000 in 2026).

8. In 2027: $59.95 million (base salary of $10 million, roster bonus of $49.4 million, and workout bonus of $550,000 in 2027).

9. In 2028: $44.45 million (base salary of $13 million, roster bonus of $30.9 million, and workout bonus of $550,000 in 2028).

9. In 2029: $44.95 million (base salary of $20.5 million, roster bonus of $23.9 million, and workout bonus of $550,000 in 2029).

10. In 2030: $50.45 million (base salary of $27 million, roster bonus of $22.9 million, and workout bonus of $550,000 in 2030).

11. In 2031: $52.45 million (base salary of $38 million, roster bonus of $13.9 million, and workout bonus of $550,000 in 2028).”

Jangles · Jul 6, 2020

This contract will be a steal if he stays healthy and productive.

farn · Jul 6, 2020

Jangles said:
This contract will be a steal if he stays healthy and productive.

« If » and « if ».

TinhWoodhead · Jul 6, 2020

is mahomes 10mil more better than wilson?

maust · Jul 6, 2020

lancerman said:
Honestly as long as the players are still getting millions nobody will care

That's just the point, there are only just so many millions available under the cap. This isn't Eddie D's NFL anymore, you can't just keep backing up cash trucks to everyone's door.

Dr Pain · Jul 6, 2020

Now if he would only break up with that girlfriend of his. That is the only thing I don't like about him

StockingAnarchyNumber12 · Jul 6, 2020

Best QB in the league. Deserved It.

theone12 · Jul 6, 2020

Boomer B said:
This deal is actually pretty team friendly after you read the breakdown of it from PFT:

The preliminary Patrick Mahomes contract details - ProFootballTalk

In the first two years, Mahomes will earn $33.361 million. Through the first three years, Mahomes will earn $63.08 million. Through the first four years, Mahomes will earn $103.53 million. By way of comparison, Titans quarterback Ryan Tannehill will earn $118 million over the next four years — and he won’t be tied to his team for another eight seasons.

The Chiefs will have him for pretty friendly rate while the current team is intact and still in their prime.

Here’s the yearly breakdown:

“The deal includes a fairly paltry, given the supposed magnitude of the deal, signing bonus of $10 million. The cash breakdown, regardless of guarantees or “guarantee mechanisms” (whatever those are), is as follows:

1. In 2020: $10.825 million.

2. In 2021: $22.8 million (base salary of $990,000, roster bonus of $21.7 million, and workout bonus of $100,000 in 2021).

3. In 2022: $29.45 million (base salary of $1.5 million, roster bonus of $27.4 million, and workout bonus of $550,000 in 2022).

4. In 2023: $40.45 million (base salary of $5.5 million, roster bonus of $34.4 million, and workout bonus of $550,000 in 2023).

5. In 2024: $37.95 million (base salary of $2.5 million, roster bonus of $34.9 million, and workout bonus of $550,000 in 2024).

6. In 2025: $41.95 million (base salary of $2.5 million, roster bonus of $38.9 million, and workout bonus of $550,000 in 2025).

7. In 2026: $41.95 million (base salary of $2.5 million, roster bonus of $38.9 million, and workout bonus of $550,000 in 2026).

8. In 2027: $59.95 million (base salary of $10 million, roster bonus of $49.4 million, and workout bonus of $550,000 in 2027).

9. In 2028: $44.45 million (base salary of $13 million, roster bonus of $30.9 million, and workout bonus of $550,000 in 2028).

9. In 2029: $44.95 million (base salary of $20.5 million, roster bonus of $23.9 million, and workout bonus of $550,000 in 2029).

10. In 2030: $50.45 million (base salary of $27 million, roster bonus of $22.9 million, and workout bonus of $550,000 in 2030).

11. In 2031: $52.45 million (base salary of $38 million, roster bonus of $13.9 million, and workout bonus of $550,000 in 2028).”

A Broncos fan getting on his knees for the Chiefs in a Patriot forum? That’s disturbing.

Kdo5 · Jul 6, 2020

libra957 said:
Belichick must be fully erect seeing all this.

Yeah I'm sure he is thrilled that the best player in the NFL will be a huge road block to overcome to reach the Super Bowl ever again.

DropKickFlutie · Jul 6, 2020

TommyBrady12 said:

Wait it looks like he isn't crushing the salary cap through 2026 and thus the Chiefs would be legit annual contenders if they don't screw up their cap ??

Boomer B · Jul 7, 2020

theone12 said:
A Broncos fan getting on his knees for the Chiefs in a Patriot forum? That’s disturbing.

Broncos fan? Look a little closer. That’s the ball being hiked over Peyton’s head when they got blown out in the Super Bowl.

Boomer B · Jul 7, 2020

TinhWoodhead said:
is mahomes 10mil more better than wilson?

Look at the contract. First 4 years he averages less then Ryan Tannehill. Chiefs got off pretty good getting him on a decent deal while they have a championship caliber team. The real big money kicks in later.

Boomer B · Jul 7, 2020

DropKickFlutie said:
Wait it looks like he isn't crushing the salary cap through 2026 and thus the Chiefs would be legit annual contenders if they don't screw up their cap ??

Yup. I was hoping he’d kill their cap right away, but the Chiefs did well with this contract.

Chiefs and Patrick Mahomes agree on 10-YEAR Contract Extension

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