Patrick Mahomes signed a 10-year, $450 million contract extension with the Kansas City Chiefs in 2021, the largest in NFL history at the time. He’s now just the seventh highest-paid quarterback in the league, with several players surpassing his average annual salary of $45 million.
Mahomes, 27, is coming off a Super Bowl victory, yet the quarterback he defeated, Philadelphia Eagles’ Jalen Hurts, is now earning $51 million per season. Baltimore Ravens QB Lamar Jackson will earn $52 million after finally agreeing to a contract extension.While it might seem surprising that a player of Mahomes’ caliber would already be slipping down the salary rankings, it’s important to note that the NFL salary cap is a constantly moving target.
In fact, his endorsement earnings make up the majority of his total income, with his base salary from the Chiefs being just a fraction of what he earns from off-the-field ventures. But Mahomes’ financial success isn’t just due to his football career and endorsement dealsMahomes is a savvy investor, with stakes in companies like Whoop, a fitness wearable, and Zenefits, a human resources software company. In 2020, he also joined the ownership group of the Kansas City Royals, further diversifying his portfolio.