What is Patrick Mahomes' net worth and salary?
Patrick Mahomes is an American professional football player who has a net worth of $90 million and a salary of $40 million. Patrick Mahomes played quarterback for Texas Tech before being drafted as the 10th pick in the first round of the 2017 NFL Draft by the Kansas City Chiefs. Today, he is one of the highest-paid athletes in the world. In 2020, Patrick led the Chiefs to their first Super Bowl win since 1969. He led the team to another Super Bowl win in 2023.
Early Life
Patrick Lavon Mahomes II was born in Tyler, Texas, on September 17, 1995, to MLB pitcher Pat Mahomes and Randi Martin. He played quarterback at Whitehouse High School, where he also played baseball and basketball. As a senior on the football team, he threw for 4,619 yards and 50 touchdown passes to go along with 948 rushing yards and 15 rushing touchdowns. In baseball, he threw a no-hitter with 16 strikeouts. He believes pitching and playing basketball helped him improve as a quarterback over the years. Patrick was rated the 12th-best dual-threat quarterback in his class as a three-star recruit. He received offers from Texas Tech, Rice, and Houston. He was selected by the Detroit Tigers in the 37th round of the 2014 MLB Draft but did not sign a contract as he decided to focus on football instead.
Mahomes played college football at Texas Tech, where he was named Second-team All-Big 12 in 2016. He set NCAA records for single-game yards passing with 734 and single-game yards total offense with 819 in the same game against Oklahoma. In his junior year, he led all NCAA Division I FBS players with 5,052 passing yards and 53 total touchdowns. He was the Sammy Baugh Trophy winner in 2016.
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NFL Career
In the 2017 NFL Draft, the Kansas City Chiefs selected Patrick Mahomes with the 10th overall pick in the first round after trading up from their original 27th overall spot. He spent his rookie season as the backup to Alex Smith and was named the starter in 2018. He set NFL records for most touchdown passes thrown through the first three career games, most touchdown passes thrown through the first two games of a season, most touchdown passes thrown through the first three games of a season, and youngest quarterback to throw for six touchdowns in a game. He became the only quarterback in history to throw for 5,000 yards in a season in both college and the pros and joined Peyton Manning as the only players in NFL history to throw for 50 touchdowns and 5,000 yards in a single season. Mahomes was named the NFL Offensive Player of the Year and NFL MVP and was selected as a First Team All-Pro and sent to the Pro Bowl.
In January of 2020, Patrick and the Chiefs won the AFC Championship, which sent them to Super Bowl LIV, the team's first Super Bowl appearance in 50 years. He was named the "Sports Illustrated Sportsperson of the Year." The Kansas City Chiefs defeated the San Francisco 49ers 31-20, and Patrick Mahomes was named the Super Bowl MVP, the second black quarterback and youngest overall to win the award. He's also the third black quarterback ever to win a Super Bowl.
In 2021, the Kansas City Chiefs made it back to the Super Bowl but lost to Tom Brady and the Tampa Bay Buccaneers 31-9. Mahomes threw for 270 yards and two interceptions in the first double-digit loss of his NFL career. Three days after the game, Patrick underwent surgery to repair a turf toe injury he suffered in the Divisional Round game against the Cleveland Browns.
Patrick Mahomes set the NFL record for the most total yards by a quarterback in a season in 2022 with 5,608 and broke his own Chiefs' franchise record for passing yards in a season with 5,250. The Chiefs defeated the Cincinnati Bengals in the AFC Championship game to advance to their third Super Bowl in four seasons.
Salary and Contracts
In 2017, when he first joined the NFL, Patrick signed a four-year deal with the Chiefs that was worth a total of $16.2 million. The contract was fully guaranteed and came with a $10 million signing bonus. After proving himself to be a superstar, many NFL analysts predicted that Patrick's next contract would be unlike any that the league had ever seen. Those predictions proved to be very, very true.
Going into the Super Bowl, he had two years of his rookie deal remaining. He became eligible for an extension as soon as the Super Bowl ended. Many believed the extension would shatter NFL records. The generally accepted prediction was that Patrick would sign a league record-setting $200 million. The contract was predicted to be at least 50% guaranteed and come with $40 million per year in average salary.
If you think that $200 million may not seem totally enormous, keep in mind that when Eli Manning retired right around the time of the 2020 Super Bowl, he retired with a league record in career total earnings at $252 million. Eli earned that record-setting amount over 17 years across multiple extremely large contracts.
(Photo by Mark Brown/Getty Images)
$500 Million Contract
On July 6, 2020, it was reported that Patrick signed a 10-year extension with the Chiefs that was worth "over $400 million in total". It was initially unclear how much would come as a signing bonus or how much of the remaining would be guaranteed.
It was then reported that Patrick's deal was worth $450 million over ten years. For perspective, at the time his contract was signed, the NFL's all-time money leader, Drew Brees, had made $245 million total in his career.
Later in the day, the full potential value of Mahomes' contract was actually revealed to be $503 million if it makes it all the way to the end. It was also clarified that the contract includes $477 million in "guaranteed mechanisms," $140 million of which is fully guaranteed against injury. He is the first half billion dollar athlete in sports history.
Kansas City Royals
In August 2020, fresh off his Super Bowl win earlier in the year, it was revealed that in addition to signing a $500 million contract, Patrick had also reached a deal to acquire an ownership stake in the Kansas City Royals baseball team. It's unclear how large of a stake he had purchased, but just a year earlier, the team was purchased for $1 billion, so presumably, a 1% ownership stake would have cost him about $10 million. Up until this point in his career, Mahomes had only earned a total of $13 million on the field.
Endorsements
Patrick Mahomes has received many endorsement deals already in his short NFL career, including Hunt's after he revealed his love for ketchup. Other sponsors include Oakley, Hy-Vee, Essentia Water, Direct TV, State Farm, Adidas, Head & Shoulders, and Helzberg Diamonds. He was the cover athlete for Madden NFL 20, the first Chiefs player in the history of the video game. Two years later, he shared the cover of Madden NFL 22 with Tom Brady.
Personal Life
Patrick Mahomes married his high school sweetheart, Brittany Matthews, on March 12, 2022. The couple has two children together, a girl and a boy. He proposed to Brittany on September 1, 2020, in Arrowhead Stadium, the same day he received his Super Bowl ring.
Mahomes started a nonprofit called the "15 and the Mahomies Foundation" in 2019 to help improve the lives of children.
Patrick Mahomes is the godson of former Major League pitcher LaTroy Hawkins, his father's former teammate with the Minnesota Twins.
Real Estate
In 2019, Patrick paid $1.9 million for a home in Kansas City. He listed this home for sale for a little under $3 million in June 2019. The home sold within a few days of being listed.
In early 2020, Patrick paid $3.4 million for a home in Dallas.
In 2021, Patrick paid $400,000 for an undeveloped lot in the exclusive Kansas City gated community of Loch Lloyd. And in 2023, construction on his dream home finished, complete with a massive mansion, giant pool, private pond, a par three golf hole, and half a football field with his personal logo and name printed in the endzone.
