Patrick Mahomes Net Worth (Money & Salary)

What is Patrick Mahomes’ net worth and salary?

As an American professional football player, Patrick Mahomes boasts a net worth of $90 million and an impressive salary amounting to $40 million. Before being drafted by the Kansas City Chiefs as the 10th overall pick in the first round of the 2017 NFL Draft, he played quarterback at Texas Tech. Today, he ranks among the world’s highest-paid athletes. In 2020, Mahomes guided the Chiefs to their first Super Bowl victory since 1969, and later led them to another Super Bowl win in 2023.

Early Life

Born on September 17, 1995, in Tyler, Texas, Patrick Lavon Mahomes II is the son of MLB pitcher Pat Mahomes and Randi Martin. He excelled as a quarterback at Whitehouse High School, simultaneously participating in baseball and basketball. In his senior year, he amassed 4,619 passing yards and 50 touchdown passes, complemented by 948 rushing yards and 15 rushing touchdowns. During his baseball career, he notably pitched a no-hitter with 16 strikeouts. Mahomes attributes his development as a quarterback over the years to his background in pitching and basketball. As a three-star recruit, he was ranked as the 12th-best dual-threat quarterback in his class and received offers from Texas Tech, Rice, and Houston. Though drafted by the Detroit Tigers in the 37th round of the 2014 MLB Draft, he opted not to sign, choosing instead to concentrate on a football career.

At Texas Tech, Mahomes played college football and earned Second-team All-Big 12 honors in 2016. He set NCAA records for both single-game passing yards with 734 and single-game total offense with 819 during a game against Oklahoma. In his junior season, he led all NCAA Division I FBS players with an impressive 5,052 passing yards and a total of 53 touchdowns. In 2016, he was awarded the Sammy Baugh Trophy.

NFL Career

During the 2017 NFL Draft, the Kansas City Chiefs selected Patrick Mahomes with the 10th pick overall after trading up from their original 27th position. He served as the backup quarterbck to Alex Smith during his rookie season, but was named the starting quarterback in 2018. Mahomes set numerous NFL records, including the most touchdown passes in the first three career games and the youngest quarterback to throw for six touchdowns in a game. He became the only quarterback to achieve over 5,000 yards in a season in both college and the NFL, and was one of the two players in NFL history, alongside Peyton Manning, to throw for 50 touchdowns and 5,000 yards in a single season. His accolades include being named the NFL Offensive Player of the Year, NFL MVP, a First Team All-Pro, and a Pro Bowl selection.

In January 2020, Patrick and the Chiefs triumphed in the AFC Championship, earning a spot in Super Bowl LIV, the franchise’s first Super Bowl appearance in 50 years. He was subsequently honored as the “Sports Illustrated Sportsperson of the Year.” The Chiefs emerged victorious against the San Francisco 49ers with a score of 31-20, while Mahomes received the Super Bowl MVP title, becoming the second black quarterback and the youngest overall to earn such an award. He is also recognized as the third black quarterback in history to secure a Super Bowl victory.

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In 2021, the Kansas City Chiefs returned to the Super Bowl, where they faced Tom Brady and the Tampa Bay Buccaneers, ultimately losing 31-9. Patrick Mahomes recorded 270 yards and two interceptions during this game, marking the first double-digit loss of his NFL career. Just three days post-game, Patrick had surgery to address a turf toe injury acquired during the Divisional Round against the Cleveland Browns.

Patrick Mahomes achieved a remarkable milestone in the 2022 season by setting the NFL record for the most total yards thrown by a quarterback, accumulating 5,608 yards. Additionally, he surpassed his own franchise record for the Chiefs, amassing 5,250 passing yards in a single season. The Chiefs triumphed over the Cincinnati Bengals in the AFC Championship game, allowing them to compete in their third Super Bowl within four seasons.

Salary and Contracts

Upon joining the NFL in 2017, Patrick negotiated a four-year contract with the Chiefs valued at $16.2 million. This deal was fully guaranteed and included a $10 million signing bonus. As Patrick emerged as a superstar, many analysts speculated that his next contract would surpass anything previously witnessed in the league. These predictions turned out to be remarkably accurate.

As the Super Bowl approached, Patrick still had two years left on his rookie deal. He became eligible for a contract extension immediately after the Super Bowl concluded. There was widespread belief that this extension would break NFL records, with common predictions estimating that Patrick would sign a contract worth $200 million. It was anticipated that this deal would be at least 50% guaranteed, featuring an average salary of $40 million per year.

You might consider that $200 million isn’t necessarily jaw-dropping, but it’s noteworthy to remember that Eli Manning retired around the time of the 2020 Super Bowl with a league record total career earning of $252 million, accumulated over 17 years through several substantial contracts.

$500 Million Contract

On July 6, 2020, news broke that Patrick had signed a 10-year extension with the Chiefs valued at “over $400 million in total.” Initially, the specifics regarding the signing bonus and guaranteed amounts were unclear.

Subsequently, it was revealed that the extension was worth $450 million over ten years. For context, at the time of signing, Drew Brees, the NFL’s all-time money leader, had earned a total of $245 million throughout his career.

Later that day, it became clear that Mahomes’ contract had a potential full value of $503 million, contingent on its successful conclusion. Furthermore, it was specified that the contract included $477 million in “guaranteed mechanisms,” with $140 million fully guaranteed in case of injury. This makes him the first athlete in sports history to achieve a half-billion-dollar deal.

Kansas City Royals

In August 2020, shortly after his Super Bowl victory earlier that year, it came to light that beside his $500 million contract, Patrick had also negotiated a deal to acquire an ownership stake in the Kansas City Royals baseball team. The exact size of the stake he purchased remains uncertain, but the team was acquired just a year prior for…

$1 billion means that a 1% ownership stake would roughly equate to around $10 million. Until this stage in his career, Mahomes had accumulated only $13 million from his on-field activities.

Endorsements

Throughout his brief NFL career, Patrick Mahomes has garnered numerous endorsement deals, notably with Hunt’s after he expressed his fondness for ketchup. Other notable sponsors include Oakley, Hy-Vee, Essentia Water, Direct TV, State Farm, Adidas, Head & Shoulders, and Helzberg Diamonds. He made history by being the cover athlete for Madden NFL 20 as the first Chiefs player featured in the video game. Two years following that, he appeared on the cover of Madden NFL 22 alongside Tom Brady.

Personal Life

On March 12, 2022, Patrick Mahomes tied the knot with his high school sweetheart, Brittany Matthews. They are proud parents to a daughter and a son. His proposal to Brittany took place on September 1, 2020, at Arrowhead Stadium, coinciding with the day he received his Super Bowl ring.

In 2019, Mahomes launched a nonprofit named the “15 and the Mahomies Foundation” aimed at enhancing the lives of children.

Patrick Mahomes is also the godson of former Major League pitcher LaTroy Hawkins, who was a teammate of his father with the Minnesota Twins.

Real Estate

In 2019, Patrick purchased a home in Kansas City for $1.9 million, which he listed for sale at just under $3 million in June 2019. The property was sold within days of being put on the market.

In early 2020, Patrick invested $3.4 million in a residence located in Dallas.

During 2021, Patrick acquired an undeveloped lot in the exclusive gated community of Loch Lloyd in Kansas City for $400,000. In 2023, his dream home was completed, featuring an expansive mansion, a large pool, a private pond, a par three golf hole, and half a football field adorned with his personal logo and name in the endzone.