Patrick Mahomes Net Worth (Money & Salary)

What is Patrick Mahomes’ net worth and salary?

With a net worth estimated at $90 million and an annual salary of $40 million, Patrick Mahomes is a professional football player from the United States. He played quarterback at Texas Tech before being chosen 10th overall by the Kansas City Chiefs in the first round of the 2017 NFL Draft. As of now, he ranks among the world’s highest-earning athletes. In 2020, Mahomes steered the Chiefs to their first Super Bowl victory since 1969, followed by another championship 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 showcased his skills as a quarterback at Whitehouse High School, where he also participated in baseball and basketball. During his senior year on the football squad, he amassed 4,619 passing yards and 50 touchdown passes along with 948 rushing yards and 15 rushing touchdowns. Additionally, he was recognized for throwing a no-hitter in baseball with 16 strikeouts. Mahomes credits his experience in baseball and basketball for enhancing his skills as a quarterback. Rated as the 12th-best dual-threat quarterback in his class, he was a three-star recruit receiving offers from Texas Tech, Rice, and Houston. Although selected by the Detroit Tigers in the 37th round of the 2014 MLB Draft, he opted out of signing a contract to concentrate on football instead.

At Texas Tech, he was named Second-team All-Big 12 in 2016. Mahomes shattered NCAA records for single-game passing yards with 734 and total offensive yards with 819 in a game against Oklahoma. During his junior year, he led NCAA Division I FBS players with 5,052 passing yards and 53 total touchdowns. He was recognized as the Sammy Baugh Trophy winner in 2016.

NFL Career

Selected with the 10th overall pick in the first round of the 2017 NFL Draft by the Kansas City Chiefs after trading up from their original 27th overall position, Patrick Mahomes began his rookie season as a backup to Alex Smith, later becoming the starter in 2018. He set several NFL records, including most touchdown passes in the first three career games and most touchdowns in the first two games of a season; he also became the youngest quarterback to throw six touchdowns in a single game. Mahomes distinguished himself as the only quarterback to pass for 5,000 yards in both college and professional football, joining Peyton Manning as one of the few players in NFL history to achieve 50 touchdown passes and 5,000 yards in a single season. He earned accolades such as NFL Offensive Player of the Year, NFL MVP, and was named a First Team All-Pro while also making an appearance in the Pro Bowl.

In January 2020, Mahomes and the Chiefs triumphed in the AFC Championship, which led them to their first Super Bowl appearance in 50 years, Super Bowl LIV. He received the title of “Sports Illustrated Sportsperson of the Year.” The Chiefs secured their victory against the San Francisco 49ers with a score of 31-20, and Mahomes earned Super Bowl MVP honors, making him the second black quarterback and the youngest overall to win this accolade. He is also noted as the third black quarterback ever to win a Super Bowl.

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In 2021, the Kansas City Chiefs returned to the Super Bowl, only to face Tom Brady and the Tampa Bay Buccaneers, ultimately losing 31-9. Mahomes recorded 270 passing yards along with two interceptions, marking his first double-digit defeat in the NFL. Shortly after the game, Patrick underwent surgery to fix a turf toe injury sustained during the Divisional Round against the Cleveland Browns.

For the 2022 season, Patrick Mahomes achieved a remarkable milestone by setting an NFL record for total yards by a quarterback with 5,608 yards. He also broke his own Chiefs franchise record by accumulating 5,250 passing yards. The Chiefs went on to defeat the Cincinnati Bengals in the AFC Championship, securing a spot in their third Super Bowl within four seasons.

Salary and Contracts

In 2017, upon entering the NFL, Patrick signed a four-year contract with the Chiefs valued at $16.2 million. This deal was fully guaranteed and included a signing bonus of $10 million. After establishing himself as a star player, numerous NFL analysts speculated that Patrick’s next contract would be unprecedented in the league’s history. These forecasts turned out to be remarkably accurate.

As he approached the Super Bowl, Patrick had two years remaining on his rookie contract and was eligible for an extension immediately following the game’s conclusion. Many anticipated that this extension would set new NFL records. The common expectation was for Patrick to secure a record-breaking $200 million contract, which was predicted to consist of at least 50% guaranteed money and average an annual salary of $40 million.

If you believe that the $200 million figure isn’t entirely staggering, consider that when Eli Manning retired around the 2020 Super Bowl, he held the record for total career earnings at $252 million—a figure accrued over 17 years through several significant contracts.

$500 Million Contract

On July 6, 2020, reports emerged that Patrick Mahomes signed a 10-year contract extension with the Chiefs totaling “over $400 million.” Initial details regarding the signing bonus and the guaranteed portions of the deal were unclear.

Subsequently, it was confirmed that the extension was valued at $450 million over a decade. To provide context, at that time, Drew Brees, recognized as the NFL’s all-time earnings leader, had accumulated a total of $245 million during his career.

Later that same day, the maximum value of Mahomes’ contract was disclosed to be $503 million, contingent on the contract reaching its full term. It was also clarified that the deal encompasses $477 million in “guaranteed mechanisms,” with $140 million fully guaranteed for injury. Thus, he became the first athlete in sports history to achieve a half-billion-dollar contract.

Kansas City Royals

In August 2020, shortly after his Super Bowl victory earlier that year, news broke that in addition to signing a $500 million contract, Patrick had also brokered a deal to buy a stake in the Kansas City Royals baseball franchise. The specifics regarding the size of his ownership stake remain unclear, but just a year prior, the team had been purchased for

With an estimated value of $1 billion, it can be inferred that acquiring a 1% ownership stake would have required an investment of roughly $10 million. By this stage in his professional journey, Mahomes had garnered just $13 million from gameplay.

Endorsements

Throughout his brief NFL career, Patrick Mahomes has secured several endorsement deals, including one with Hunt’s after showcasing his fondness for ketchup. Additional sponsors he has partnered with consist of Oakley, Hy-Vee, Essentia Water, Direct TV, State Farm, Adidas, Head & Shoulders, and Helzberg Diamonds. Mahomes became the inaugural Chiefs player to grace the cover of Madden NFL 20. Two years later, he shared the distinction of being on the cover of Madden NFL 22 alongside Tom Brady.

Personal Life

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

In 2019, Mahomes established a nonprofit organization called “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 who was once his father’s teammate with the Minnesota Twins.

Real Estate

In 2019, Patrick made a purchase of $1.9 million for a residence located in Kansas City. He subsequently listed this property for sale at just under $3 million in June 2019, and it sold within a matter of days.

Early in 2020 saw Patrick acquiring a Dallas home for $3.4 million.

In 2021, he spent $400,000 on an undeveloped plot within the prestigious gated community of Loch Lloyd in Kansas City. By 2023, the construction of his dream residence was completed, featuring a lavish mansion, a significant 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.