Patrick Mahomes Net Worth (Money & Salary)

What is Patrick Mahomes’ net worth and salary?

With a net worth of $90 million, Patrick Mahomes is an American professional football player earning a salary of $40 million. Before being drafted by the Kansas City Chiefs as the 10th overall pick in the first round of the 2017 NFL Draft, he played quarterback for Texas Tech. Today, he is regarded as one of the highest-paid athletes globally. In 2020, he led the Chiefs to their first Super Bowl victory since 1969, followed by another win in 2023.

Early Life

Born on September 17, 1995, in Tyler, Texas, Patrick Lavon Mahomes II is the son of MLB pitcher Pat Mahomes and Randi Martin. He was a quarterback at Whitehouse High School, where he also played baseball and basketball. During his senior year in football, he threw for 4,619 yards and completed 50 touchdown passes alongside 948 rushing yards and 15 rushing touchdowns. He also threw a no-hitter in baseball, recording 16 strikeouts. Patrick attributes his improvement as a quarterback to his experiences in pitching and basketball. Rated as the 12th-best dual-threat quarterback and deemed a three-star recruit, he received offers from Texas Tech, Rice, and Houston. Although the Detroit Tigers selected him in the 37th round of the 2014 MLB Draft, he chose not to sign as he wanted to concentrate on football.

At Texas Tech, Mahomes earned Second-team All-Big 12 honors in 2016 and set NCAA records for most single-game passing yards (734) and total offense yards (819) in a match against Oklahoma. In his junior year, he led all NCAA Division I FBS players with 5,052 passing yards and a total of 53 touchdowns. Additionally, he was awarded the Sammy Baugh Trophy in 2016.

NFL Career

Patrick Mahomes was chosen by the Kansas City Chiefs with the 10th overall pick in the 2017 NFL Draft after they moved up from their previous position of 27th. He began his career as a backup to Alex Smith before taking over as starter in 2018. Mahomes broke several NFL records, including the most touchdown passes thrown in the first three career games and the youngest quarterback to achieve six touchdowns in a single game. He is also notably the first quarterback in history to throw for 5,000 yards in both college and professional football, joining Peyton Manning as the only players to pass for 50 touchdowns and 5,000 yards in the same season. His accomplishments earned him the NFL Offensive Player of the Year and NFL MVP awards, along with a First Team All-Pro selection and a Pro Bowl invitation.

In January 2020, Patrick and the Chiefs captured the AFC Championship, which led them to Super Bowl LIV, marking the team’s first Super Bowl appearance in 50 years. He earned the title of “Sports Illustrated Sportsperson of the Year.” The Kansas City Chiefs triumphed over the San Francisco 49ers with a score of 31-20, and Patrick Mahomes was awarded the Super Bowl MVP, becoming the second black quarterback and the youngest overall to receive such an honor. Furthermore, he is the third black quarterback in history to win a Super Bowl.

In
“`

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 the game, Mahomes recorded 270 passing yards and two interceptions, marking the first double-digit loss of his NFL journey. Just three days post-game, Patrick underwent surgery to fix a turf toe injury he incurred during the Divisional Round clash with the Cleveland Browns.

In 2022, Patrick Mahomes set a new NFL record for total passing yards by a quarterback in a season at 5,608 while also breaking his own Chiefs’ franchise record for passing yards with a total of 5,250. The Chiefs triumphed over the Cincinnati Bengals in the AFC Championship game, securing their third Super Bowl appearance in four seasons.

Salary and Contracts

Upon joining the NFL in 2017, Patrick signed a four-year contract with the Chiefs valued at $16.2 million. The deal was fully guaranteed and included a $10 million signing bonus. After demonstrating his skills and becoming a superstar, NFL analysts speculated that Patrick’s subsequent contract would surpass any previously seen in the league, and their predictions turned out to be spot on.

As he approached the Super Bowl, he had two years left on his rookie contract. He became eligible for an extension immediately following the Super Bowl. Many anticipated that the terms of the extension would break NFL records, with common estimates suggesting Patrick would sign a contract setting the league record at $200 million. It was projected that at least 50% of the contract would be guaranteed, along with an average salary of $40 million per year.

If $200 million doesn’t appear excessively large, remember that when Eli Manning retired around the 2020 Super Bowl, he held the league record for career earnings at $252 million. Eli accumulated that record-breaking figure over 17 years through several massive contracts.

$500 Million Contract

On July 6, 2020, news broke that Patrick had signed a 10-year extension with the Chiefs reportedly worth “over $400 million in total.” Initially, it was uncertain how much of this would come as a signing bonus or the proportion that would be guaranteed.

Later reports clarified that Patrick’s contract was worth $450 million over a decade. To put this into perspective, when his contract was signed, the NFL’s all-time earnings leader, Drew Brees, had accumulated $245 million throughout his career.

By the end of the day, the complete potential valuation of Mahomes’ contract was disclosed to be $503 million, contingent on its full duration. It was also explained that the agreement included $477 million in “guaranteed mechanisms,” with $140 million fully guaranteed against injury. Consequently, he became the first athlete in sports history to sign a contract worth half a billion dollars.

Kansas City Royals

In August 2020, shortly after his Super Bowl victory earlier that year, it was announced that alongside signing a $500 million contract, Patrick had also negotiated an ownership stake in the Kansas City Royals baseball team. The exact size of his ownership stake remains uncertain, but just a year prior, the team had been purchased for

Costing approximately $10 million, a 1% ownership stake in the team valued at $1 billion would have been what Mahomes needed to invest. Throughout his career leading up to this moment, Mahomes had only accumulated $13 million in earnings from playing on the field.

Endorsements

In his brief NFL career, Patrick Mahomes has secured numerous endorsement agreements, his affinity for ketchup leading to a sponsorship with Hunt’s. Other partners include Oakley, Hy-Vee, Essentia Water, DirecTV, State Farm, Adidas, Head & Shoulders, and Helzberg Diamonds. Notably, he was featured as the cover athlete for Madden NFL 20, marking the first time a Chiefs player held that distinction in the game’s history. In a later installment, Madden NFL 22, he shared the cover with the legendary Tom Brady.

Personal Life

On March 12, 2022, Patrick Mahomes wed his high school sweetheart, Brittany Matthews. Together, they have a daughter and a son. He popped the question to Brittany on September 1, 2020, at Arrowhead Stadium, coinciding with the day he received his Super Bowl championship ring.

To benefit children’s lives, Mahomes established a nonprofit called the “15 and the Mahomies Foundation” in 2019.

Former Major League pitcher LaTroy Hawkins serves as Patrick Mahomes’ godfather, a connection brought about by his father’s time as a teammate with the Minnesota Twins.

Real Estate

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

In early 2020, he acquired a property in Dallas for $3.4 million.

In 2021, Mahomes spent $400,000 on an undeveloped lot situated in the exclusive gated community of Loch Lloyd, Kansas City. By 2023, his dream home was completed, featuring an expansive mansion, a sizable pool, a private pond, a par three golf hole, and a half football field emblazoned with his personal logo and name in the end zone.