Patrick Mahomes Net Worth (Money & Salary)

What is Patrick Mahomes’ net worth and salary?

With a net worth estimated at $90 million and a yearly salary of $40 million, Patrick Mahomes is an American professional football player. Previously, he played quarterback for Texas Tech before being selected as the 10th overall pick in the first round of the 2017 NFL Draft by the Kansas City Chiefs. Presently, he ranks among the highest-paid athletes globally. In 2020, Mahomes guided the Chiefs to their first Super Bowl victory since 1969, and he led them to a second Super Bowl win in 2023.

Early Life

Patrick Lavon Mahomes II was born on September 17, 1995, in Tyler, Texas, to MLB pitcher Pat Mahomes and Randi Martin. During his time at Whitehouse High School, he played quarterback, as well as baseball and basketball. In his senior year, he recorded 4,619 passing yards and 50 touchdown passes, alongside 948 rushing yards and 15 rushing touchdowns in football. In baseball, he achieved a no-hitter with 16 strikeouts. He attributes his pitching and basketball experiences as beneficial to his development as a quarterback. Mahomes was rated as a three-star recruit, coming in as the 12th-best dual-threat quarterback in his class. Offers came from Texas Tech, Rice, and Houston. Although the Detroit Tigers drafted him in the 37th round of the 2014 MLB Draft, he opted not to sign and decided to concentrate on football instead.

While at Texas Tech, Mahomes earned Second-team All-Big 12 honors in 2016. He set NCAA records for single-game passing yards with 734 and total offense yards with 819 against Oklahoma in the same game. In his junior season, he led all NCAA Division I FBS players with a total of 5,052 passing yards and 53 total touchdowns, also winning the Sammy Baugh Trophy in 2016.

NFL Career

Selected by the Kansas City Chiefs as the 10th overall pick in the first round of the 2017 NFL Draft, Mahomes transitioned from their original 27th overall position following a trade. He served as a backup to Alex Smith in his debut season and was appointed as the starting quarterback in 2018. Mahomes established NFL records for the highest number of touchdown passes in the first three career games, most touchdown passes in the first two games of a season, along with the first three games of a season, and became the youngest quarterback to throw for six touchdowns in a game. Additionally, he made history as the only quarterback to achieve 5,000 passing yards in both college and professional football, joining Peyton Manning as one of only two players to throw for 50 touchdowns and 5,000 yards in a single NFL season. His accolades include being named NFL MVP, NFL Offensive Player of the Year, and earning selections as a First Team All-Pro and Pro Bowl participant.

In January 2020, Patrick led the Chiefs to an AFC Championship, securing their place in Super Bowl LIV, which marked the franchise’s first Super Bowl appearance in 50 years. He received the title of “Sports Illustrated Sportsperson of the Year.” The Chiefs triumphed over the San Francisco 49ers with a score of 31-20, and Mahomes was awarded the Super Bowl MVP title, becoming the youngest and second Black quarterback to earn such recognition, as well as the third Black quarterback to win a Super Bowl.

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In 2021, the Kansas City Chiefs returned to the Super Bowl only to be defeated by Tom Brady and the Tampa Bay Buccaneers with a score of 31-9. During the game, Mahomes completed 270 yards and threw two interceptions, marking the first double-digit loss of his NFL journey. Three days post-game, Patrick underwent surgery to fix a turf toe injury he sustained during the Divisional Round matchup against the Cleveland Browns.

Setting a new NFL record in 2022, Patrick Mahomes achieved the highest total yards by a quarterback in a single season at 5,608 and exceeded his own Chiefs’ franchise record for passing yards in a season with 5,250. The Chiefs triumphed over the Cincinnati Bengals in the AFC Championship, securing their spot in the Super Bowl for the third time in four years.

Salary and Contracts

After joining the NFL in 2017, Patrick inked a four-year deal with the Chiefs worth a cumulative total of $16.2 million. This contract was completely guaranteed and included a $10 million signing bonus. Following his emergence as a superstar, many analysts speculated that his next contract would be unprecedented in the league’s history. These speculations turned out to be exceptionally accurate.

As the Super Bowl approached, Patrick had two remaining years on his rookie contract. Upon the conclusion of the Super Bowl, he became eligible for an extension, with many anticipating that this extension would break NFL records. The consensus prediction suggested a groundbreaking deal worth $200 million. It was estimated that this contract would be at least 50% guaranteed, offering an average salary of around $40 million per year.

If the figure of $200 million seems understated, it’s worth noting that Eli Manning retired around the time of the 2020 Super Bowl holding the league record for total career earnings at $252 million, which he accumulated over 17 years through numerous large contracts.

$500 Million Contract

Reported on July 6, 2020, Patrick entered into a 10-year extension with the Chiefs valued at “over $400 million in total”. Initially, it was uncertain how much of this would be allocated as a signing bonus or which portion would be guaranteed.

Subsequently, it was disclosed that his contract was actually worth $450 million over the span of ten years. As a point of reference, at the time of signing, Drew Brees, the NFL’s all-time money leader, had accrued a total of $245 million throughout his career.

Later that day, the full potential worth of Mahomes’ contract emerged as $503 million if all conditions were met by the end of the contract. Additionally, it was clarified that his deal includes $477 million in “guaranteed mechanisms,” with $140 million being fully guaranteed against injury. Hence, he stands as the first athlete in sports history to secure a half-billion dollar contract.

Kansas City Royals

In August 2020, shortly after celebrating his Super Bowl victory from earlier that year, it was announced that Patrick not only signed a $500 million contract but also reached an agreement to gain an ownership stake in the Kansas City Royals baseball team. The specific size of his ownership stake remains unspecified, but just a year before, the team was acquired for

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With a valuation of $1 billion, it can be inferred that acquiring a 1% ownership share would approximate a cost of around $10 million. Up to this stage in his journey, Mahomes had earned only $13 million through his on-field performances.

Endorsements

In his brief NFL tenure, Patrick Mahomes has secured numerous endorsement agreements, including a notable deal with Hunt’s after expressing his fondness for ketchup. Additional sponsors encompass Oakley, Hy-Vee, Essentia Water, Direct TV, State Farm, Adidas, Head & Shoulders, and Helzberg Diamonds. He made history as the first Chiefs player to grace the cover of Madden NFL 20 and later shared the cover of Madden NFL 22 with Tom Brady in 2022.

Personal Life

On March 12, 2022, Patrick Mahomes wed his high school girlfriend, Brittany Matthews. The couple is blessed with two children, a daughter and a son. He popped the question to Brittany on September 1, 2020, at Arrowhead Stadium, which coincided with the day he received his Super Bowl ring.

In 2019, Mahomes established a nonprofit organization named the “15 and the Mahomies Foundation” aimed at enhancing children’s lives.

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

Real Estate

In 2019, Patrick acquired a property in Kansas City for $1.9 million, which he listed for just under $3 million in June 2019. The house was sold within days of its listing.

Patrick spent $3.4 million on a home in Dallas in early 2020.

In 2021, he purchased an undeveloped lot in the prestigious gated community of Loch Lloyd in Kansas City for $400,000. By 2023, the construction on his dream residence was completed, featuring an expansive mansion, a massive pool, a private pond, a par three golf hole, and half a football field adorned with his personal logo and name in the end zone.