Here’s one look at what a $180 million extension for Patrick Mahomes might entail
As The Star’s Sam Mellinger reported Thursday, contract negotiations between the Chiefs and quarterback Patrick Mahomes have started in some form.
The column notes that Mahomes will be handsomely paid and could forever change the way negotiations are held in the NFL.
No one knows exactly how much money Mahomes will receive from the Chiefs, but everyone agrees the contract he signs will have a lot of zeros. The average salary likely will exceed the $35 million that Seahawks quarterback Russell Wilson receives annually. That’s the highest in the NFL.
Michael Ginnitti, the co-founder/editor of Spotrac, which calls itself a “sports team and player contract resource,” took a shot at breaking down what a Mahomes extension could look like.
“I tried to crunch some of the numbers based on what I’ve heard or what I’m anticipating,” Ginnitti said Thursday on KCSP (610 AM).
This is what Ginnitti sees if Mahomes signs a four-year, $180 million deal:
As Ginnitti notes, that would include $120 million guaranteed with a $50 million signing bonus. At $45 million, the average salary would dwarf Wilson’s deal.
The cap hit by year: $30 million in 2021, $38 million in 2022, $41 million in 2023 and 2024, and $37 million in 2025.
Of course, this is just an estimate, and $45 million a season seems on the high end.
But Ginnitti told KCSP that Mahomes’ deal will be contingent on what kind of contracts Dallas’ Dak Prescott and Houston’s Deshaun Watson receive.
“Forty (million) is the number right now (for Mahomes), but the problem is they are up against (Texans general manager/coach) Bill O’Brien, and we’ve seen how crazy he is,” Ginnitti said. “He just gave his left tackle $22 million. So if Deshaun Watson goes and gets $40 (million) there, then everything is reset and Mahomes’ baseline becomes $42 million, in my opinion.”
