Patrick Mahomes Net Worth (Money & Salary)

How much is Patrick Mahomes’ net worth and salary?

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

Background

Born on September 17, 1995, in Tyler, Texas, Patrick Lavon Mahomes II is the son of MLB pitcher Pat Mahomes and Randi Martin. At Whitehouse High School, he not only played quarterback but also participated in baseball and basketball. During his senior year on the football team, he amassed 4,619 passing yards and threw 50 touchdown passes, alongside 948 rushing yards and 15 rushing touchdowns. In baseball, he notably pitched a no-hitter with 16 strikeouts. He attributes his improvement as a quarterback over the years to his experiences in pitching and basketball. Rated 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 drafted by the Detroit Tigers in the 37th round of the 2014 MLB Draft, he opted not to sign a contract, choosing instead to concentrate on football.

During his time at Texas Tech, Mahomes showcased his talents, earning a Second-team All-Big 12 honor in 2016. He broke NCAA records for passing yards in a single game with 734 yards and total offense with 819 yards in the same game against Oklahoma. His junior year saw him leading all NCAA Division I FBS players with 5,052 passing yards and a total of 53 touchdowns, culminating in a win of the Sammy Baugh Trophy in 2016.

Professional Career in the NFL

Patrick Mahomes was chosen by the Kansas City Chiefs in the first round of the 2017 NFL Draft as the 10th overall pick after the team moved up from their original 27th overall position. For his rookie season, he served as the backup to Alex Smith before being appointed as the starting quarterback in 2018. Mahomes set multiple NFL records, including most touchdown passes within the first three career games, most touchdown passes through the first two games of a season, most touchdown passes in the first three games of a season, and he became the youngest quarterback to throw six touchdown passes in one game. He also made history as the only quarterback to achieve over 5,000 passing yards in a single season in both college and the NFL, joining Peyton Manning as one of the few players to throw for 50 touchdowns and 5,000 yards in a single season. His accolades include being named NFL Offensive Player of the Year, NFL MVP, and securing a spot on the First Team All-Pro while also earning Pro Bowl selections.

In January 2020, the Chiefs and Mahomes clinched the AFC Championship, propelling them to Super Bowl LIV—an event they hadn’t participated in for 50 years. Mahomes earned 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 honored as the Super Bowl MVP, becoming the second Black quarterback and the youngest overall to claim this title. He also stands as the third Black quarterback in history to secure a Super Bowl victory.

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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 along with two interceptions, marking the first double-digit loss of his NFL career. Just three days post-match, Patrick underwent surgery to fix a turf toe injury sustained in the Divisional Round against the Cleveland Browns.

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

Salary and Contracts

When he joined the NFL in 2017, Patrick signed a four-year contract with the Chiefs valued at $16.2 million, which was fully guaranteed and included a $10 million signing bonus. After establishing himself as a superstar, many NFL experts predicted that his subsequent contract would be unprecedented in the league’s history. These predictions ultimately came true.

As he headed into the Super Bowl, he had two years left on his rookie contract and became eligible for an extension immediately following the Super Bowl. Many speculated that this extension would break NFL records, with common forecasts estimating that Patrick would secure a $200 million deal. Expectations also indicated that the contract would be at least 50% guaranteed, averaging $40 million per year in salary.

If $200 million sounds less than astonishing, consider that Eli Manning set a league record for career total earnings at $252 million when he retired around the time of the 2020 Super Bowl. Eli achieved that record over a span of 17 years through multiple significant contracts.

$500 Million Contract

On July 6, 2020, it was announced that Patrick secured a 10-year extension with the Chiefs valued at “over $400 million total.” Initially, it was uncertain how much of this amount would be allocated as a signing bonus or how much of the remainder would be guaranteed.

Subsequently, the value of Patrick’s contract was confirmed to be $450 million over the ten years. For context, when his contract was signed, Drew Brees, the NFL’s all-time earnings leader at the time, had accumulated $245 million in his career.

Later in the day, the full potential contract value of Mahomes was disclosed as being $503 million if he fulfills the entirety of the deal. It was also detailed that this contract features $477 million in “guaranteed mechanisms,” with $140 million fully guaranteed in the event of injury. He became the first athlete in sports history to sign a half-billion dollar deal.

Kansas City Royals

In August 2020, shortly after his Super Bowl victory that year, it was divulged that alongside his $500 million contract, Patrick had also finalized a deal to gain an ownership stake in the Kansas City Royals baseball team. The extent of his ownership stake remains unclear; however, just a year prior, the team had been bought for

A stake of 1% in the business would likely have been around $10 million, considering the valuation of $1 billion. At this stage in his career, Mahomes had accumulated only $13 million in earnings from playing.

Endorsements

During his brief NFL career, Patrick Mahomes has secured numerous endorsement deals, such as Hunt’s, following the revelation of his fondness for ketchup. Other brands he represents include Oakley, Hy-Vee, Essentia Water, Direct TV, State Farm, Adidas, Head & Shoulders, and Helzberg Diamonds. He made history as the first Chiefs player featured on the cover of Madden NFL 20. Two years later, he shared the cover of Madden NFL 22 with Tom Brady.

Personal Life

On March 12, 2022, Patrick Mahomes wed his high school sweetheart, Brittany Matthews. Together, they have a son and a daughter. His proposal to Brittany took place on September 1, 2020, at Arrowhead Stadium, which also marked the day he received his Super Bowl ring.

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

Patrick Mahomes is also the godson of former Major League pitcher LaTroy Hawkins, who was once his father’s teammate with the Minnesota Twins.

Real Estate

Patrick purchased a property in Kansas City for $1.9 million in 2019, later listing it for just under $3 million in June of the same year. The home was sold shortly after being put on the market.

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

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