Patrick Mahomes Net Worth 2024, Salary, $ 503M Contract

Patrick Mahomes Net Worth:-Patrick Mahomes and the Kansas City Chiefs have shocked the NFL by signing a deal in 2020. While many expected Mahomes to sign a deal worth a hefty salary and bonuses, fewer expected a deal that would span a decade and potentially exceed $500 million. No. Let’s take a look at Mahomes’ contract terms and his estate as of February 2024.

Mahome’s athleticism, talent, and ability rank him among the best quarterbacks currently playing in the league. Kansas City Patrick Mahomes’ new contract with his Chiefs is valued at up to $503 million. Tyreek Hill believes the team could have helped an even bigger Brinks track. The Chiefs wideout told TMZ Sports that the Super Bowl MVP is worth more than $500 million. Told. “I mean, hell, I thought he deserved more.”

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Patrick Mahomes Net Worth 2024

While there are questions about what Hill said about Mahomes’ overall contract structure, it’s fair to say that the best quarterback in the game left some money on the table. Mahomes, however, admitted that he signed that deal to help the Chiefs long-term. This may have helped the franchise sign Chris Jones to a new four-year deal. With Kansas City trying to build a dynasty around their rising star quarterback, Mahomes remains at the table for a bit. Being there could prompt some teammates to do the same and extend their run at the top of the AFC.

Patrick Mahomes Net Worth 2023

Patrick Mahomes Net Worth Overview

Name Patrick Mahomes Jr.
Net Worth Approximately $40 million
Age 27 years (born 17 September 1995)
Residence Kansas City, Missouri
Marital Status Married
Spouse Brittany Matthews
Category Trending
Source of Wealth Professional Football, Endorsements, Investments
Salary Approximately $45 million per year.
Endorsements BioSteel, Adidas, Oakley, Head & Shoulders, State Farm, Bose, DirecTV, Essentia Water and Electronic Arts.
Endorsement Earnings Approximately $7 million
Philanthropy 15 and the Mahomies Foundation

Patrick Mahomes’ Contract 

Mahomes’ contract is a 10-year, $450 million contract that includes $141,482,000 in guarantees. His average salary was $45 million and his contract included his $10 million signing bonus. In 2024, Mahomes’ deal is expected to add $49.293 million to the Chiefs’ salary cap, bringing the base salary to $5.5 million.

The deal was officially a 10-year extension worth $450 million, but it was an optional extension for a year and a fifth on his rookie contract. The base value of his 12-year contract is $477.6 million. Mahomes could earn an additional $2.5 million annually in incentives between 2022 and 2031. If he achieves all of this, his contract value will exceed his $500 million.

In the 2024 season, Mahomes is expected to face $49.293 million in Kansas City’s salary for his cap. This cap is disassembled as it is. That puts Mahomes’ cap at his $50 million mark in 2024, 2025 and 2026, and over $65 million in 2027. Alternatively, Kansas City could convert some of its roster bonuses into contract bonuses and distribute less over five years, but with a lower cap this year.

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Mahomes’ Net Worth

Calculating a person’s net worth is different than salary. Mahomes could extend his 10-year contract worth $450 million, potentially netting him $475 million, but his net worth would be significantly less. According to various sources, Mahomes is currently worth $40 million.

His NFL earnings for Mahome on February 9, 2024 are his $78.154 million. If Mahomes completes his contract with the Chiefs, his earnings from the NFL will be at least $492.704 million and could be higher depending on how many incentives he receives over the next nine years.

Patrick Mahomes Salary in 2024

In 2024, Mahomes will earn a base salary of $5,500,000, along with a $34,400,000 roster bonus and a $550,000 training bonus. Taking all these incentives into account, Patrick Mahome’s annual income in 2024 will be around $40,450,000.

Date of Birth
Sep 17, 1995 (27 years old)
Net Worth

Salary

$50 Million

$40 Million

Place of Birth Tyler, Texas

Early Life

Patrick Lavon Mahomes II was born on September 17, 1995 in Tyler, Texas to MLB pitchers Pat Mahomes and Randy Martin. He played quarterback at Whitehouse High School and also played baseball and basketball. Football As a senior on his team, he threw for his 4,619 yards and 50 touchdowns his passing, plus he threw for 948 rushing yards and his 15 rushing touchdowns. He achieved 16 strikeouts and no runs in baseball. He credits both pitching and basketball with helping him develop as a quarterback over the years. Patrick was named the 12th best dual threat quarterback in his class as a three-star recruit. He received offers from Texas Tech University, Rice, and Houston. He was drafted by the Detroit Tigers in the 37th round of the 2014 MLB Draft, but did not sign a contract as he chose to focus on football.

Mahomes played his college football at Texas Tech University and was named to the second team All-Big 12 in 2016. In the same game against Oklahoma, he set his NCAA records for his 734 passing yards per game and his 819 total offensive yards per game. In his junior year, he led all NCAA Division I FBS players with 5,052 passing yards and 53 total touchdowns. He won his Sammybo his trophy in 2016.

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Patrick Mahomes’ Endorsements

After his MVP season, Mahomes began to land more endorsement contracts. His first endorsement deal came from Hunt. Oakley, Essentia Water, Hy-Vee, State Farm, DirecTV, Adidas, and Head & Shoulders were among the companies he signed endorsement contracts with after that. In Madden NFL 20, he was also the first Chiefs player to be on the cover.

Together with Tom Brady, Mahomes is featured on the cover of Madden NFL 22. Patrick Mahomes, the face of the ‘Prizm Optics’ line campaign for Oakley, is also the first NFL player to sign a deal with the company. He is likely to make around $7 million per year in total, not including his official salary, as of right now.

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