Quarterback contracts are growing around the NFL -- and will only get even bigger this offseason with the inevitable extensions coming to Jalen Hurts, Joe Burrow, Justin Herbertand Lamar Jackson. The massive contracts being handed out around the league make the 10-year contract Patrick Mahomes signed for $450 million in 2020 look like a bargain in a few months.
Mahomes is the fifth-highest paid quarterback in the league based on average annual salary ($45 million), even though the total length of his contract is still the highest in NFL history. The Kansas City Chiefs certainly had this in mind when they signed Mahomes to his massive extension, giving themselves enough flexibility to continue building a championship roster and signing enough core players to long-term extensions to pair with Mahomes.
Kansas City knows how to build a roster, while having enough foresight to sign Mahomes early and set the market for other quarterbacks to come. Could the Chiefs reset the market again by signing Mahomes to a new contract and rework the current deal?
"I don't know," Chiefs general manager Brett Veach said at the NFL Scouting Combine Tuesday. "On one end, we have Pat's deal done. On the other end, we'll certainly have to monitor the rest of these deals. We have a lot of years with Pat's contract, so that's something we'll have to readjust as time goes."
Mahomes has certainly lived up to his end of the contract, leading the Chiefs to the Super Bowl in Year 1 of the 10-year contract. The Chiefs owe Mahomes a guaranteed salary of $40.45 million in 2023, as the cap number of $49,293,381 is the highest over the life of the deal. Mahomes' salary is guaranteed on the third day of the new league year in future years under the life of the deal, which may be why the Chiefs rework the deal over time to save cap space and keep the championship window open.
Veach will certainly monitor the quarterback market this offseason and how Kansas City evolves with Mahomes moving forward.
"All these teams are structurally different, how they handle contracts like this is different, the cash flows are different," Veach said. "So it'll be an interesting time frame. We had to go through that hurdle there. Now Cincinnati and [the Chargers] have to go through that there. I'm kind of like you, I'm anxious to see how they work their deals and we'll be taking a look at every aspect of how they do that."
Mahomes joined Brett Favre as the only quarterbacks to win two MVP awards at age 27 or younger, setting a new NFL record for offensive yards in a season (5,614). He's the first quarterback to win two MVP awards and two Super Bowl MVP awards before turning 30.
The Chiefs can afford to just wait and see how Mahomes' deal plays out compared to the other contracts that are coming. Either way, Kansas City is in a win-win situation with their franchise quarterback.
