Patrick Mahomes Net Worth (Money & Salary)

What is Patrick Mahomes’ net worth and salary?

An American professional football player, Patrick Mahomes boasts a net worth of $90 million, complemented by a salary of $40 million. He played quarterback at Texas Tech prior to being selected as the 10th overall pick in the first round of the 2017 NFL Draft by the Kansas City Chiefs. Today, Mahomes ranks among the highest-paid athletes globally. In 2020, he guided the Chiefs to their first Super Bowl victory since 1969 and led the team to yet another Super Bowl 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. At Whitehouse High School, he played both quarterback and participated in baseball and basketball. As a senior, he amassed 4,619 passing yards and threw 50 touchdown passes, alongside achieving 948 rushing yards and 15 rushing touchdowns. Additionally, he recorded a no-hitter in baseball featuring 16 strikeouts. He believes that his experiences in pitching and basketball significantly enhanced his quarterback skills. Rated as the 12th-best dual-threat quarterback in his class, Mahomes was a three-star recruit and received offers from Texas Tech, Rice, and Houston. Although he was drafted by the Detroit Tigers in the 37th round of the 2014 MLB Draft, he chose not to sign and instead focus on football.

While playing college football at Texas Tech, Mahomes earned the Second-team All-Big 12 recognition in 2016. He set NCAA records for passing yards in a single game with 734 and total offensive yards in a single game with 819 against Oklahoma. In his junior season, he led all NCAA Division I FBS players in passing yards with 5,052 and total touchdowns with 53. 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 during the 2017 NFL Draft after they moved up from their initial position of 27th. He served as a backup to Alex Smith during his rookie year, being appointed the starter in 2018. Mahomes set multiple NFL records, including the most touchdown passes through the first three career games, the most touchdown passes through the first two games of a season, the most touchdown passes through the first three games of a season, and the youngest quarterback to throw six touchdowns in a game. He distinguished himself as the only quarterback ever to pass for 5,000 yards in a season both in college and the NFL, and he joined Peyton Manning as one of the two players in NFL history to achieve 50 touchdowns and 5,000 yards in a single season. For his accomplishments, he was honored as the NFL Offensive Player of the Year, NFL MVP, and was named to the First Team All-Pro and Pro Bowl.

In January 2020, Patrick and the Chiefs won the AFC Championship, earning a spot in Super Bowl LIV, marking the franchise’s first Super Bowl appearance in 50 years. He was recognized as the “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 player overall to receive this accolade. He is also recognized as the third black quarterback in history to win a Super Bowl.

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In 2021, the Kansas City Chiefs returned to the Super Bowl, where they faced off against Tom Brady and the Tampa Bay Buccaneers, ultimately losing 31-9. During this game, Mahomes threw for a total of 270 yards and recorded two interceptions, marking the first double-digit loss of his NFL career. Following the game, Patrick underwent surgery just three days later to correct a turf toe injury incurred during the Divisional Round against the Cleveland Browns.

In the 2022 season, Patrick Mahomes established an NFL record for the most total yards by a quarterback, amassing 5,608 yards and surpassing his own franchise record for passing yards in a season, which stood at 5,250 yards. The Chiefs triumphed over the Cincinnati Bengals in the AFC Championship game, securing their spot in the Super Bowl for the third time in four seasons.

Salary and Contracts

Patrick joined the NFL in 2017 when he signed a four-year agreement with the Chiefs valued at $16.2 million. This contract was fully guaranteed and included a $10 million signing bonus. After demonstrating his extraordinary talent, many analysts forecasted that Patrick’s upcoming contract would be unprecedented in the league’s history. These predictions turned out to be remarkably accurate.

As he approached the Super Bowl, he had two remaining years of his rookie contract. He became eligible for an extension right after the Super Bowl concluded. Many speculated that the extension would break NFL records. The prevailing forecast suggested that Patrick could sign for a staggering $200 million, with at least 50% guaranteed and an average annual salary of $40 million.

If the notion of $200 million doesn’t appear excessively large, consider this: when Eli Manning retired around the 2020 Super Bowl, he held the league record for career total earnings at $252 million. He achieved that figure over the course of 17 years through various substantial contracts.

$500 Million Contract

On July 6, 2020, reports surfaced that Patrick signed a 10-year extension with the Chiefs, valued at “over $400 million in total.” Initial details about the division between signing bonus and guaranteed funds were unclear.

Subsequently, it was revealed that the value of Patrick’s contract was actually $450 million over a decade. For context, when his contract was finalized, the NFL’s historical earnings leader, Drew Brees, had accumulated $245 million throughout his career.

By the end of the day, the complete potential worth of Mahomes’ contract was disclosed to reach $503 million if fully realized. Additionally, it was clarified that the contract comprises $477 million in “guaranteed mechanisms,” of which $140 million is fully guaranteed against injury. This makes him the first athlete in sports history to attain a half-billion-dollar contract.

Kansas City Royals

In August 2020, following his Super Bowl victory earlier that year, it was announced that Patrick not only signed a $500 million contract but also secured an ownership stake in the Kansas City Royals baseball team. The exact size of his ownership stake remains undisclosed, but just a year prior, the team was purchased for

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Presumably, a 1% ownership stake would have cost him around $10 million, given the valuation of $1 billion. Up to this point in his career, Mahomes had accumulated a total earnings of $13 million from on-field play.

Endorsements

In his brief NFL career, Patrick Mahomes has secured numerous endorsement deals, notably with Hunt’s due to his well-known affection for ketchup. Other brands that he endorses include Oakley, Hy-Vee, Essentia Water, Direct TV, State Farm, Adidas, Head & Shoulders, and Helzberg Diamonds. He made history as the cover athlete of Madden NFL 20, being the first Chiefs player featured in the video game, and two years later, shared 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. They have a son and a daughter together. Mahomes proposed to Brittany on September 1, 2020, during a special moment at Arrowhead Stadium, coinciding with the day he received his Super Bowl ring.

To aid in enhancing children’s lives, Mahomes founded a nonprofit organization known as the “15 and the Mahomies Foundation” in 2019.

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

Real Estate

In 2019, Patrick acquired a Kansas City home for $1.9 million, which he subsequently listed for sale in June 2019 at just under $3 million. The property sold within days of being put on the market.

Then, in early 2020, he purchased another house in Dallas for $3.4 million.

Further expanding his real estate portfolio, in 2021, Patrick added a vacant lot in the upscale gated community of Loch Lloyd in Kansas City for $400,000. By 2023, construction on his dream home reached completion, featuring a sprawling mansion, a large swimming pool, a private pond, a par-three golf hole, and half a football field emblazoned with his personal logo and name in the end zone.