LAS VEGAS — A win Sunday for Patrick Mahomes would mean many things. He’d become only the fifth quarterback in NFL history to have won three Super Bowls. He’d be alone in third place for most playoff victories for a signal-caller with 15. He would be the first back-to-back champion in the NFL in two decades.
He would also become $1.25 million richer.
Mahomes has that incentive built into his contract, which currently gets him more cash flow over a four-year span than any player in NFL history. Between 2023 through the 2026 season, Mahomes is scheduled to make $210.6 million, and a win against the San Francisco 49ers on Sunday will make that $211.85 million.
Mahomes has one of the most unique contracts in the NFL. He signed a massive 10-year, $450 million contract extension with the Kansas City Chiefs in 2020 that, despite its huge numbers, was viewed as a team-friendly deal due to there being less guaranteed money than typical in quarterback deals.
This summer, the league saw a flurry of quarterback contract deals. In terms of average annual value, Jalen Hurts became the highest-paid QB in league history in April. Lamar Jackson topped him a few weeks later. In July, Justin Herbert stood at the top. And in Week 1 of the season, Joe Burrow grabbed the crown with an average annual value of $55 million.
Mahomes and the Chiefs had been working for months to restructure his deal, which had always been the plan within a few years of signing the 2020 extension. In September, the two sides agreed to a restructured deal that moved money around in the existing deal to get an even greater cash flow.
The contract is one that’s meant to be reworked every three or so years, so long as Mahomes continues to play like the best player on the planet. It’s likely that as long as he maintains this level of play, the Chiefs will rework his deal again following the 2026 season.
The contract pays Mahomes an extra $1.25 million each year that he wins the NFL Most Valuable Player award and gets the Chiefs to the AFC championship game. He hit that mark last season, but this year he finished seventh in MVP voting so he didn’t get that extra money.
Mahomes’ cap hit in 2024 is currently at $59.8 million, according to sources with access to the league’s internal salary cap system. That number should actually be $58.55 million since he didn’t win the MVP and thus didn’t get the $1.25 million…
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