After Kansas City Chiefs signed Patrick Mahomes to a 10-year, $450 million contract in 2020, which made him the highest-paid player in the NFL then, the quarterback might break another pay record in the league history by Week 1.
According to NBC Sports’ Mike Florio, a new deal between the Chiefs and Mahomes is expected to take place before the 2023 NFL season starts, and;
“Chiefs G.M. Brett Veach already has vowed to address the Mahomes deal after more quarterback contracts are completed. While Veach didn’t delve into any specifics, here’s what reasonably should be expected, based on our conversations with folks aware of the dynamics of the situation.
Expect Mahomes, before the season begins, to once again be the highest-paid player in league history.“
KC might want to raise Patrick’s pay, despite the huge chunk he is currently receiving because probably, he is no longer the highest earner in NFL despite being rated as the best.
Recent deals for Eagles QB Jalen Hurts and Ravens QB Lamar Jackson have seen his down the line.
Brett Veach has been monitoring the changes in the quarterback market and in February he said he was open to adjusting Mahomes’ contract amidst the rising market. He recently suggested that the team might wait for contract extensions for Joe Burrow and Justin Herbert to be done before they explored any adjustments.
“I mean, the draft just ended here,” Veach said. “Coach got asked about it, I got asked about it (and Chairman & CEO) Clark (Hunt) got asked about it there. We’re a few years into a long deal but at the same time, we have great communication with Pat (Mahomes), so that’ll be a situation where we work through all those things. There’s no timing on it from our end because we’re in constant communication.”
When asked about the situation, Clark Hunt, a part owner, chairman, and CEO of the Kansas City Chiefs said;
“Well, I don’t know that there’s really a way to quantify it financially and no matter what he makes over his career, I’m sure one way or another he’ll be underpaid,” Hunt said during the NFL draft. “The great thing about Patrick (Mahomes) is, when we did that deal, he recognized that he wanted to give the club the flexibility to build the team around him. “
“And that contract was structured in that way. We’re only one year in to a 10‐year contract, so there’s a long way to go but I think what Patrick cared most about was winning and he’s certainly been able to do a lot of that. (General Manager) Brett Veach has had enough flexibility to be able to add quality players each year and that’s part of the reason why were able to lift the Lombardi Trophy again.”