Patrick Mahomes Net Worth (Money & Salary)

What is Patrick Mahomes’ net worth and salary?

With a net worth of $90 million and a salary of $40 million, Patrick Mahomes is an American professional football player. Having played quarterback for Texas Tech, he was drafted as the 10th overall pick in the first round of the 2017 NFL Draft by the Kansas City Chiefs. Currently, he ranks among the highest-paid athletes globally. In 2020, Patrick guided the Chiefs to their inaugural Super Bowl win since 1969 and followed it up by leading the team to another Super Bowl victory 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. During his time at Whitehouse High School, he excelled as a quarterback while also playing baseball and basketball. In his senior football season, he amassed 4,619 passing yards along with 50 touchdown passes, in addition to 948 rushing yards and 15 rushing touchdowns. His baseball skills shone through when he threw a no-hitter that included 16 strikeouts. He attributes his quarterbacking improvements to his experiences in pitching and basketball. As a three-star recruit, he was ranked the 12th-best dual-threat quarterback in his class, receiving offers from Texas Tech, Rice, and Houston. Although he was selected by the Detroit Tigers in the 37th round of the 2014 MLB Draft, he chose not to sign, opting to concentrate on football instead.

At Texas Tech, Mahomes was recognized as a Second-team All-Big 12 player in 2016, breaking NCAA records for single-game passing yards with 734 and single-game total offense with 819 in a game against Oklahoma. In his junior season, he topped all NCAA Division I FBS players with 5,052 passing yards and 53 total touchdowns, earning him the Sammy Baugh Trophy in 2016.

NFL Career

Selected by the Kansas City Chiefs with the 10th overall pick in the first round of the 2017 NFL Draft after trading up from the 27th spot, Patrick Mahomes spent his rookie season as a backup to Alex Smith before being named the starter in 2018. He established multiple NFL records, including the fastest to reach various touchdown milestones. Notably, he became the first quarterback in history to surpass 5,000 yards in a season at both college and professional levels and joined Peyton Manning as the only players in NFL history to achieve 50 touchdowns and 5,000 yards in one season. He earned the NFL Offensive Player of the Year, NFL MVP honors, and was named a First Team All-Pro while attending the Pro Bowl.

In January 2020, Mahomes and the Chiefs clinched the AFC Championship, propelling them to Super Bowl LIV, marking the team’s first Super Bowl appearance in half a century. Honored as the “Sports Illustrated Sportsperson of the Year,” the Chiefs triumphed over the San Francisco 49ers 31-20, with Patrick being named the Super Bowl MVP—the youngest and second black quarterback to achieve this accolade. He is also the third black quarterback in history to win a Super Bowl.

In

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 managed to throw for 270 yards but also threw two interceptions, marking the first double-digit loss of his career in the NFL. Just three days post-game, he underwent surgery to address a turf toe injury sustained during the Divisional Round against the Cleveland Browns.

In the 2022 season, Patrick Mahomes achieved the NFL record for total yards by a quarterback, amassing 5,608 yards. He also broke his own record for passing yards in a season for the Chiefs, previously set at 5,250 yards. The Chiefs triumphed over the Cincinnati Bengals in the AFC Championship game, securing their third Super Bowl appearance in four years.

Salary and Contracts

Upon entering the NFL in 2017, Patrick signed a four-year contract with the Chiefs valued at $16.2 million. This fully guaranteed contract included a $10 million signing bonus. After demonstrating his superstar capabilities, numerous NFL analysts projected that his next contract would surpass anything seen in the league before, a prediction that turned out to be remarkably accurate.

As he approached the Super Bowl, Mahomes still had two years left on his rookie contract, becoming eligible for an extension immediately after the game ended. Many speculated that the extension would break NFL records, with common predictions suggesting a league record-setting $200 million contract, which was expected to include at least 50% guaranteed money and an average salary of $40 million per year.

If the notion of a $200 million contract seems less than staggering, consider that Eli Manning retired around the time of the 2020 Super Bowl as a league leader in total career earnings, totaling $252 million, accumulated over 17 years and multiple large contracts.

$500 Million Contract

On July 6, 2020, reports surfaced indicating that Patrick signed a 10-year extension with the Chiefs valued at “over $400 million in total.” It was initially unclear how much of that amount would constitute a signing bonus or the guaranteed portion of the contract.

Subsequent reports revealed that the true value of Mahomes’ deal was $450 million over ten years. For context, at the time his contract was finalized, Drew Brees, the NFL’s all-time leader in career earnings, had accumulated $245 million over his entire career.

Later that day, it was disclosed that the maximum potential value of Mahomes’ contract reached $503 million if fulfilled to its entirety. It was clarified that the deal contained $477 million in “guaranteed mechanisms,” with $140 million completely guaranteed against injury. This secured Mahomes’ status as the first half-billion-dollar athlete in sports history.

Kansas City Royals

In August 2020, shortly after his Super Bowl victory earlier that year, it was disclosed that alongside signing a $500 million contract, Patrick had also struck a deal to acquire an ownership stake in the Kansas City Royals baseball team. The specifics of the stake he purchased remain unclear, but just a year earlier, the team had been purchased for

With a valuation of $1 billion, it can be inferred that a 1% ownership stake would have approximately cost him around $10 million. At this stage in his career, Mahomes had only accrued a total of $13 million from playing on the field.

Endorsements

Throughout his brief NFL career, Patrick Mahomes has secured numerous endorsement deals, including one with Hunt’s after showcasing his fondness for ketchup. Other partnerships feature Oakley, Hy-Vee, Essentia Water, Direct TV, State Farm, Adidas, Head & Shoulders, and Helzberg Diamonds. He became the cover athlete for Madden NFL 20, marking the first time a Chiefs player graced the cover of the game. Two years later, he shared the spotlight on the cover of Madden NFL 22 with Tom Brady.

Personal Life

On March 12, 2022, Patrick Mahomes tied the knot with his high school sweetheart, Brittany Matthews. Together, the couple has two children, a son and a daughter. Mahomes proposed to Brittany on September 1, 2020, at Arrowhead Stadium, coinciding with the day he received his Super Bowl ring.

In 2019, Mahomes founded a nonprofit organization known as the “15 and the Mahomies Foundation,” aimed at enhancing the lives of children.

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

Real Estate

In 2019, Patrick purchased a home in Kansas City for $1.9 million, subsequently listing it for a little under $3 million in June of the same year. The property was sold within days of being put on the market.

Early in 2020, he acquired a residence in Dallas for $3.4 million.

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