How Much Money Does Patrick Mahomes Make a Year?

How Much Money Does Patrick Mahomes Make a Year? Patrick Mahomes, the star quarterback for the Kansas City Chiefs, has become one of the most prominent figures in the NFL, both for his exceptional talent and his record-breaking earnings. With an NFL career that continues to soar, Mahomes’ financial success off the field is just as impressive. In this article, we’ll dive deep into how much money Patrick Mahomes makes a year, covering his salary, endorsement deals, and other sources of income.

How Much Money Does Patrick Mahomes Make a Year? 1. Patrick Mahomes’ Record-Breaking NFL Contract

In July 2020, Patrick Mahomes signed what is widely regarded as one of the largest contracts in sports history. The 10-year, $450 million contract with the Kansas City Chiefs has the potential to reach up to $503 million with certain performance incentives and bonuses. Here’s a closer look at the details of Mahomes’ groundbreaking deal:

• Contract value: $450 million (with a potential for $503 million).
• Contract duration: 10 years (from 2020 to 2031).
• Average annual salary: $45 million per year.
• Guaranteed money: $141.4 million, which includes a $63 million signing bonus.

This 10-year extension was added to the two remaining years on Mahomes’ rookie contract, which means he will remain with the Chiefs until at least 2031, assuming no renegotiations or trades occur. The sheer size of the contract not only made headlines, but it also set the bar for future quarterback contracts in the NFL.

2. Mahomes’ Yearly Salary Breakdown

While the average annual salary in his contract is $45 million, Mahomes’ yearly earnings can vary depending on bonuses and incentives tied to his performance and team success. NFL contracts are often structured with base salaries, roster bonuses, signing bonuses, and performance-based incentives. Here’s a breakdown of how Mahomes’ annual earnings might look:

• 2020 season: Mahomes earned a base salary of $825,000, along with a $10 million roster bonus and his $63 million signing bonus. His total earnings for 2020 were approximately $39.8 million.
• 2021 season: His base salary increased to $990,000, along with another $21.7 million in roster bonuses and other incentives, bringing his total earnings for the year to $22.8 million.
• 2022 season: Mahomes earned $1.5 million in base salary, along with $27.4 million in roster bonuses, pushing his total annual earnings to $29 million.
• 2023 season and beyond: His base salary escalates significantly in later years, starting with $5.5 million in 2023 and continuing to increase, with his total earnings potentially reaching $45 million to $50 million per year, depending on roster bonuses and other incentives.

Key factors affecting his yearly salary:

• Roster bonuses: Mahomes’ contract is loaded with roster bonuses, which are payouts he earns for being on the team’s roster at specific dates during the season.
• Performance incentives: Additional earnings can come from achieving certain milestones, such as making the playoffs, winning the Super Bowl, or being named MVP.

3. Endorsement Deals and Sponsorships

While Mahomes’ NFL contract is substantial, his off-field earnings from endorsement deals and sponsorships further add to his annual income. Mahomes has signed several lucrative endorsement deals with major brands, making him one of the most marketable athletes in the world. Some of the companies he endorses include:

• Adidas: Mahomes has a long-term partnership with Adidas, where he promotes the brand’s athletic apparel and footwear. In 2021, Mahomes even launched his own signature line of Adidas sneakers.
• State Farm: As the face of State Farm’s advertising campaign, Mahomes appears regularly in the company’s commercials alongside fellow NFL star Aaron Rodgers.
• Oakley: Mahomes serves as an ambassador for Oakley, promoting their eyewear and appearing in their ad campaigns.
• Hunt’s Ketchup: Mahomes has a well-known love for ketchup, and he capitalized on this by partnering with Hunt’s, promoting their brand in advertisements and social media posts.
• Essentia Water: Mahomes is also an endorser of Essentia Water, a premium bottled water brand.
• BioSteel: The NFL star promotes BioSteel, a sports hydration company, in both advertisements and social media.
• Head & Shoulders: Alongside other NFL players, Mahomes features in advertisements for the popular shampoo brand.

Estimated endorsement earnings: Mahomes is estimated to earn around $7 million to $10 million per year from his endorsement deals. As his career continues to rise, his endorsement earnings could increase significantly, making him one of the top-earning athletes off the field.

4. Mahomes’ Investment Ventures

In addition to his football salary and endorsements, Mahomes has also ventured into investments and business opportunities that further contribute to his wealth. Some notable investments include:

• Kansas City Royals ownership stake: In 2020, Mahomes became a minority owner of the Kansas City Royals, making him one of the youngest team owners in Major League Baseball history.
• Kansas City Current ownership stake: Mahomes and his fiancée, Brittany Matthews, also became part-owners of the Kansas City Current, a National Women’s Soccer League (NWSL) team.
• Real estate investments: Mahomes has invested in real estate, purchasing properties in Kansas City and Texas, including a multi-million-dollar mansion in Kansas City.

These investments are likely to grow in value over time, potentially adding millions to his net worth in the future.

5. Potential Future Earnings

Patrick Mahomes’ current earnings are already astronomical, but his future earning potential is even greater. With his contract set to run through 2031 and endorsement deals likely to grow, Mahomes could eventually earn more than $50 million per year.

Other future earnings could come from:

• New endorsement deals: As Mahomes’ profile continues to rise, additional endorsement deals with high-profile brands could push his off-field earnings even higher.
• Contract renegotiation or extension: Depending on his performance and the evolution of NFL quarterback salaries, Mahomes may negotiate an even larger contract extension down the line.

Conclusion

Patrick Mahomes makes an estimated $45 million to $50 million per year, combining his record-breaking NFL contract, endorsement deals, and investment ventures. His 10-year, $450 million contract with the Kansas City Chiefs remains one of the largest in sports history, and his rising fame and marketability only add to his impressive income. With continued success both on and off the field, Mahomes is on track to become one of the highest-earning athletes in the world for years to come.