Patrick Mahomes Net Worth (Money & Salary)

What is Patrick Mahomes’ net worth and salary?

An American professional football player, Patrick Mahomes boasts a net worth of $90 million along with a salary of $40 million. Before being drafted 10th overall in the first round of the 2017 NFL Draft by the Kansas City Chiefs, he played quarterback for Texas Tech. Currently, he ranks among the highest-paid athletes globally. In 2020, Patrick spearheaded the Chiefs to their initial Super Bowl victory since 1969 and led the team 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 former MLB pitcher Pat Mahomes and Randi Martin. At Whitehouse High School, he played quarterback as well as baseball and basketball. During his senior year on the football squad, he achieved 4,619 passing yards and completed 50 touchdown passes alongside 948 rushing yards and 15 rushing touchdowns. In baseball, he accomplished a no-hitter with 16 strikeouts. He attributes his success as a quarterback to his experiences in pitching and basketball. Rated as the 12th-best dual-threat quarterback in his class, he earned a three-star recruit status and received offers from Texas Tech, Rice, and Houston. Although selected by the Detroit Tigers in the 37th round of the 2014 MLB Draft, he opted not to sign and concentrated on football instead.

While attending Texas Tech for college football, Mahomes was honored as Second-team All-Big 12 in 2016. He made NCAA headlines by setting records for single-game passing yards with 734, and single-game total offense yards with 819 in a single game against Oklahoma. In his junior year, he led all NCAA Division I FBS players with 5,052 passing yards and accumulated 53 total touchdowns. He also received the Sammy Baugh Trophy in 2016.

NFL Career

The Kansas City Chiefs picked Patrick Mahomes with the 10th overall choice in the first round of the 2017 NFL Draft after they traded up from their original 27th pick. In his rookie year, he served as Alex Smith’s backup and became the starter in 2018. Setting numerous NFL records, he accomplished the most touchdown passes thrown through an initial three career games, most touchdown passes in the first two games of a season, most touchdown passes in the first three games of a season, and became the youngest quarterback to throw for six touchdowns in a game. Mahomes uniquely threw for 5,000 yards in both college and professional seasons, joining Peyton Manning as the exclusive players in NFL history to throw for 50 touchdowns and 5,000 yards within a single season. His accolades included being named the NFL Offensive Player of the Year, NFL MVP, selected for First Team All-Pro, and an invitation to the Pro Bowl.

In January 2020, Patrick and the Chiefs clinched the AFC Championship, paving their way to Super Bowl LIV, which marked the team’s first Super Bowl appearance in half a century. He earned the title of “Sports Illustrated Sportsperson of the Year.” In the Super Bowl, the Kansas City Chiefs triumphed over the San Francisco 49ers 31-20, and Patrick Mahomes was named Super Bowl MVP, being the youngest and the second black quarterback to earn this prestigious award, along with being the third black quarterback overall to claim a Super Bowl victory.

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In 2021, the Kansas City Chiefs returned to the Super Bowl but faced defeat against Tom Brady and the Tampa Bay Buccaneers, with a score of 31-9. During this game, Mahomes recorded 270 passing yards and threw two interceptions, marking the first double-digit loss of his NFL career. Just three days later, Patrick underwent surgery to address a turf toe injury incurred in the Divisional Round against the Cleveland Browns.

In 2022, Patrick Mahomes set the NFL record for total yards by a quarterback in a season, throwing for 5,608 yards. He also scored a new franchise record for the Chiefs with 5,250 passing yards in a single season. The Chiefs went on to defeat the Cincinnati Bengals in the AFC Championship game, earning a spot in their third Super Bowl in four years.

Salary and Contracts

When Patrick Mahomes entered the NFL in 2017, he signed a four-year contract with the Chiefs valued at $16.2 million. This deal was fully guaranteed and included a signing bonus of $10 million. After establishing himself as a superstar, many NFL analysts speculated that his next contract would be unprecedented in the league’s history. These predictions turned out to be strikingly accurate.

At the time of the Super Bowl, Mahomes had two years left on his rookie contract. Following the Super Bowl, he became eligible for an extension, with many expecting that this new contract would break NFL records. It was commonly believed that Mahomes would secure a groundbreaking deal of $200 million, with expectations of at least 50% guaranteed and an average salary of around $40 million per year.

If the idea of a $200 million contract seems less than astounding, consider that when Eli Manning retired around the 2020 Super Bowl, he held the league record for career earnings at $252 million, accumulated over 17 years and several substantial contracts.

$500 Million Contract

On July 6, 2020, it was announced that Patrick signed a ten-year extension with the Chiefs, reported to be worth “over $400 million total.” Initially, the details regarding the signing bonus and guaranteed amounts remained unclear.

Subsequently, reports confirmed that the contract amounted to $450 million spread over ten years. For context, at the time of this agreement, Drew Brees, the NFL’s all-time money leader, had earned a total of $245 million throughout his career.

Later that day, it was disclosed that the overall potential value of Mahomes’ contract could reach $503 million if completed in full. Additionally, it was clarified that this contract included $477 million in “guaranteed mechanisms,” with $140 million fully guaranteed against injury, making him the first athlete in sports history to exceed half a billion dollars.

Kansas City Royals

In August 2020, shortly after his Super Bowl victory earlier that year, it came to light that alongside signing a $500 million contract, Patrick had also reached an agreement to obtain an ownership stake in the Kansas City Royals baseball team. The specifics regarding the size of his stake remain unclear, but just a year prior, the team was sold for…

With an estimated valuation of $1 billion, it can be inferred that a 1% ownership share would have required an investment of around $10 million. Until this stage in his profession, Mahomes had accrued a total of $13 million from his on-field performances.

Endorsements

Throughout his brief NFL career, Patrick Mahomes has already inked numerous endorsement agreements, including a deal with Hunt’s after showcasing his passion for ketchup. Additional sponsors comprise Oakley, Hy-Vee, Essentia Water, Direct TV, State Farm, Adidas, Head & Shoulders, and Helzberg Diamonds. He made history as the cover athlete for Madden NFL 20, being the first player from the Chiefs to do so in the franchise’s history. Two years following that, he co-headlined the cover of Madden NFL 22 alongside Tom Brady.

Personal Life

On March 12, 2022, Patrick Mahomes wed his high school sweetheart, Brittany Matthews. They are proud parents of a daughter and a son. He popped the question to Brittany on September 1, 2020, during an event at Arrowhead Stadium, coinciding with the day he was awarded his Super Bowl ring.

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

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

Real Estate

In 2019, Patrick purchased a residence in Kansas City for $1.9 million. He subsequently listed the property in June 2019 for just under $3 million, and it was sold within a matter of days.

Early in 2020, Patrick acquired a home in Dallas for $3.4 million.

Later, in 2021, he spent $400,000 on an undeveloped plot in the luxurious gated community of Loch Lloyd in Kansas City. By 2023, construction was completed on his dream residence, featuring an expansive mansion, a vast pool, a private pond, a par-three golf hole, and half a football field displaying his personal logo and name in the endzone.