Introduction
Since being drafted by the Kansas City Chiefs in 2017, Patrick Mahomes has quickly become one of the most recognizable faces in the NFL. The quarterback’s success on the field has earned him numerous accolades, including two MVP awards and a Super Bowl title. But what does all this success mean for Mahomes’ bank account? In this article, we’ll explore how much money Patrick Mahomes makes and look at the financial impact he has had on the Kansas City Chiefs.
What is the Salary of Patrick Mahomes?
In July 2020, Patrick Mahomes signed the largest contract in the history of the National Football League. According to ESPN, the 10-year extension was worth $503 million and included $477 million in guaranteed money. Under the terms of the contract, Mahomes will make an average of $45 million per season over the next decade.
Mahomes’ current salary is also bolstered by incentives. If he meets certain performance milestones, such as winning the Super Bowl MVP award or making the Pro Bowl, he can earn additional money. For example, if he wins the MVP award in 2021, he would receive a $1 million bonus.
How Much Money Does Patrick Mahomes Make?
When you combine his salary and endorsements, Patrick Mahomes is estimated to have earned around $75 million in 2020. According to Forbes, Mahomes’ endorsement deals include companies like Nike, Oakley, Microsoft, State Farm, Head & Shoulders, and DirecTV. He also has his own signature line of products with Adidas.
Mahomes also has some investments in the tech space. He is a partner in the venture capital firm Exos Ventures, which invests in early-stage technology companies. Additionally, he has invested in companies like Uber and DoorDash, as well as sports streaming service FuboTV.
A Look at Patrick Mahomes’ Earning Potential
As one of the most popular players in the NFL, Patrick Mahomes has the potential to make even more money in the future. His endorsement deals are likely to increase in value as his star continues to rise, and he may add new sponsorships to his portfolio. He could also take advantage of more lucrative TV and movie roles.
“There’s no doubt that Patrick Mahomes is going to be one of the most sought-after athletes in the world,” said John Caplan, CEO of Fanatics, a company that partners with professional athletes to create branded merchandise. “He has the potential to be a global superstar.”
The Financial Impact of Patrick Mahomes on the Kansas City Chiefs
Patrick Mahomes’ presence on the Kansas City Chiefs has been a boon for the team’s finances. Since his arrival in 2017, the team’s revenue has increased from $365 million to $520 million. This includes a $50 million jump in merchandise sales alone.
Mahomes’ success has also resulted in an increase in ticket sales. According to the Kansas City Star, the Chiefs sold out their entire season ticket allotment in 2019 and 2020, something they hadn’t done in over 20 years. The team has also seen a significant increase in sponsorship deals and TV ratings.
Conclusion
Patrick Mahomes is one of the most successful and recognizable athletes in the NFL. His current contract with the Kansas City Chiefs is worth $503 million, and when you factor in endorsements, he is estimated to have earned around $75 million in 2020. As his star continues to rise, Mahomes has the potential to make even more money in the future. He has also had a positive financial impact on the Chiefs, increasing revenue, ticket sales, and sponsorships.
With Patrick Mahomes at the helm, the future looks bright for both the Kansas City Chiefs and the NFL.
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