Patrick Mahomes Net Worth (Money & Salary)

What 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 professional football player from America. He served as a quarterback for Texas Tech before being picked as the 10th overall selection in the first round of the 2017 NFL Draft by the Kansas City Chiefs. Presently, he ranks among the top-paid athletes worldwide. In 2020, he led the Chiefs to their first Super Bowl victory since 1969 and added another championship 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 played quarterback during his time at Whitehouse High School, where he also engaged in baseball and basketball. As a senior, he amassed 4,619 passing yards and 50 touchdown passes while also rushing for 948 yards and scoring 15 rushing touchdowns. In baseball, he notably pitched a no-hitter with 16 strikeouts. He attributes his experiences in pitching and basketball to his development as a quarterback. Rated as the 12th-best dual-threat quarterback in his class, he was a three-star recruit who received offers from Texas Tech, Rice, and Houston. Although he was chosen by the Detroit Tigers in the 37th round of the 2014 MLB Draft, he opted not to sign and pursued a football career instead.

Mahomes played at Texas Tech, where he earned Second-team All-Big 12 honors in 2016. He set NCAA records for single-game passing yards (734) and total offensive yards (819) during a match against Oklahoma. In his junior year, he topped all NCAA Division I FBS players with 5,052 passing yards and 53 total touchdowns, earning the Sammy Baugh Trophy in 2016.

NFL Career

During the 2017 NFL Draft, the Kansas City Chiefs chose Patrick Mahomes as the 10th overall pick in the first round after moving up from their original 27th pick. He spent his rookie year as Alex Smith’s backup and became the starter in 2018. Mahomes established several NFL records, including the most touchdown passes in the first three career games and the youngest quarterback to achieve six touchdowns in a game. He joined historic players such as Peyton Manning as one of the few to throw for 50 touchdowns and 5,000 yards within a single season, earning accolades like the NFL Offensive Player of the Year, NFL MVP, First Team All-Pro selection, and a Pro Bowl invitation.

In January 2020, Patrick led the Chiefs to victory in the AFC Championship, which allowed the team to compete in Super Bowl LIV, marking their first Super Bowl appearance in five decades. He 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 crowned the Super Bowl MVP, becoming the youngest and the second black quarterback to achieve this feat, as well 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, unfortunately falling to Tom Brady and the Tampa Bay Buccaneers with a score of 31-9. During this game, Mahomes passed for 270 yards and threw two interceptions, marking the first double-digit defeat of his NFL career. Just three days post-game, Patrick had surgery to fix a turf toe injury sustained in the Divisional Round against the Cleveland Browns.

In 2022, Patrick Mahomes established a new NFL record for total yards gained by a quarterback in a season, amassing 5,608 yards. Additionally, he surpassed his own franchise record for passing yards in a season with 5,250. The Chiefs triumphed over the Cincinnati Bengals in the AFC Championship game, securing their spot in a third Super Bowl within four years.

Salary and Contracts

Upon joining the NFL in 2017, Patrick signed a four-year agreement with the Chiefs valued at $16.2 million. This contract was completely guaranteed and included a $10 million signing bonus. Having proven himself as a top-tier player, numerous NFL analysts predicted that Patrick’s subsequent contract would be unprecedented in the league’s history. Those forecasts turned out to be incredibly accurate.

As the Super Bowl approached, Patrick had two years left on his rookie contract, and he became eligible for an extension immediately after the game. Many speculated that the extension would set new NFL records, with a common prediction being a league-leading contract worth around $200 million. Observers anticipated that at least 50% of the contract would be guaranteed, along with an average salary of $40 million per year.

If the $200 million figure doesn’t appear exceptionally vast, consider that Eli Manning, who retired just after the 2020 Super Bowl, held the all-time record for career total earnings in the league at $252 million. Eli accumulated this impressive total over 17 years through several substantial contracts.

$500 Million Contract

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

Later updates indicated that Patrick’s deal was worth $450 million spread over ten years. For perspective, when this contract was executed, Drew Brees, the NFL’s all-time earnings leader, had accumulated a total of $245 million throughout his career.

Eventually, the complete potential value of Mahomes’ contract was disclosed, revealing it to be $503 million if fully realized. It was also clarified that the deal comprises $477 million in “guaranteed mechanisms,” with $140 million being fully guaranteed against injury. This achievement made him the first-ever half-billion dollar athlete in sports history.

Kansas City Royals

In August 2020, shortly after his Super Bowl victory earlier that year, it came to light that besides signing a $500 million contract, Patrick had also secured a deal to obtain an ownership interest in the Kansas City Royals baseball team. The exact size of the stake he purchased remains unclear, but just a year prior, the team had been acquired for

Presumably, a 1% ownership stake would have incurred a cost of about $10 million, given the valuation of $1 billion. Up until that point in his career, Mahomes had earned just $13 million from his on-field activities.

Endorsements

In his brief NFL career, Patrick Mahomes has garnered numerous endorsement deals, such as Hunt’s after he showcased his passion for ketchup. Additional sponsors include Head & Shoulders, Adidas, State Farm, Direct TV, Essentia Water, Hy-Vee, and Oakley. He made history as the first Chiefs player to feature on the cover of Madden NFL 20, and two years later, he co-shared the cover with Tom Brady for Madden NFL 22.

Personal Life

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

In 2019, Mahomes founded a nonprofit organization named 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 who played alongside his father on the Minnesota Twins.

Real Estate

In 2019, Patrick purchased a Kansas City residence for $1.9 million, which he subsequently listed for nearly $3 million in June 2019. The property sold within a few days of being on the market.

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

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