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 stands out as an American professional football player. He was drafted as the 10th overall pick in the first round of the 2017 NFL Draft by the Kansas City Chiefs after his career as quarterback at Texas Tech. Currently, he ranks among the world’s highest-paid athletes. Patrick led the Chiefs to their first Super Bowl victory since 1969 in 2020 and secured another win 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 excelled at Whitehouse High School, playing quarterback along with baseball and basketball. In his senior year, he achieved 4,619 passing yards and 50 touchdown passes, as well as 948 rushing yards and 15 rushing touchdowns. In baseball, he pitched a no-hitter, striking out 16 batters. He credits his pitching and basketball experience for boosting his development as a quarterback over the years. Rated as a three-star recruit, Patrick was recognized as the 12th-best dual-threat quarterback in his class, receiving offers from Texas Tech, Rice, and Houston. Though he was selected by the Detroit Tigers in the 37th round of the 2014 MLB Draft, he opted not to sign in favor of pursuing football.

At Texas Tech, Mahomes earned Second-team All-Big 12 accolades in 2016. He shattered NCAA records for single-game passing yards (734) and single-game total offense yards (819) in a match against Oklahoma. During his junior year, he led all NCAA Division I FBS players with 5,052 passing yards and 53 total touchdowns, also garnering the Sammy Baugh Trophy in 2016.

NFL Career

In the 2017 NFL Draft, the Kansas City Chiefs made a strategic move by selecting Patrick Mahomes with the 10th overall pick after trading up from the 27th position. He served as Alex Smith’s backup during his rookie season before being named starter in 2018. Patrick set multiple NFL records, including most touchdown passes thrown in the first three career games, and became the youngest quarterback to throw for six touchdowns in a single game. Additionally, he is the only player to have thrown for 5,000 yards in a season both in college and the NFL, and he joined Peyton Manning as the only players in league history to throw for 50 touchdowns and 5,000 yards in one season. His accolades include being named NFL Offensive Player of the Year, NFL MVP, and a First Team All-Pro, along with Pro Bowl selections.

In January 2020, Patrick and the Kansas City Chiefs clinched the AFC Championship, securing their spot in Super Bowl LIV, the franchise’s first Super Bowl appearance in 50 years. That year, he was honored as the “Sports Illustrated Sportsperson of the Year.” The Chiefs triumphed over the San Francisco 49ers with a score of 31-20, and Patrick Mahomes earned the Super Bowl MVP title, making history as the youngest and the second black quarterback to receive this award. He is also recognized as the third black quarterback to win a Super Bowl.

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In 2021, the Kansas City Chiefs returned to the Super Bowl, but unfortunately lost to Tom Brady and the Tampa Bay Buccaneers with a score of 31-9. During the game, Mahomes passed for 270 yards and recorded two interceptions, marking his first double-digit loss in his NFL journey. Just three days post-game, Patrick underwent surgery to fix a turf toe injury he incurred during the Divisional Round against the Cleveland Browns.

In the 2022 season, Patrick Mahomes broke the NFL record for total yards thrown by a quarterback, amassing 5,608 yards, along with surpassing his own franchise record for passing yards in a season by reaching 5,250 yards. The Chiefs triumphed over the Cincinnati Bengals in the AFC Championship game, securing their spot in the Super Bowl for the third time in four years.

Salary and Contracts

When he entered the NFL in 2017, Patrick signed a four-year contract with the Chiefs valued at $16.2 million. This contract was entirely guaranteed and included a signing bonus of $10 million. After proving himself to be a standout player, many NFL analysts speculated that Patrick’s subsequent contract would be unprecedented in the league’s history. Those predictions turned out to be remarkably accurate.

Heading into the Super Bowl, he still had two years left on his rookie contract. Following the Super Bowl, he was eligible for an extension, which many anticipated would break NFL records. Most forecasts estimated that Patrick would secure a league-record contract of $200 million, with expectations of at least 50% being guaranteed and an annual average salary of $40 million.

If the $200 million figure seems not entirely astronomical, consider that Eli Manning retired around the time of the 2020 Super Bowl with a record for career total earnings at $252 million. Eli achieved that monumental figure over 17 years through several substantial contracts.

$500 Million Contract

Reportedly on July 6, 2020, Patrick signed a 10-year extension with the Chiefs, valued at “over $400 million in total.” It was initially ambiguous how much of this amount was a signing bonus or what fraction would be guaranteed.

Later reports indicated that Patrick’s contract was worth $450 million over a decade. For context, at the time of signing, the NFL’s all-time earnings leader, Drew Brees, had accumulated a total of $245 million throughout his career.

As the day progressed, the full potential of Mahomes’ contract was unveiled to be $503 million, should he fulfill its terms to completion. Additionally, it was specified that $477 million within the contract consisted of “guaranteed mechanisms,” with $140 million being fully guaranteed due to injury. He became the first athlete in history to secure a half-billion dollar contract.

Kansas City Royals

In August 2020, following his Super Bowl victory earlier that year, it was announced that along with signing a $500 million contract, Patrick had also negotiated a deal for an ownership interest in the Kansas City Royals baseball team. The specifics regarding the size of his stake remained unclear, but a year prior, the team had been purchased for…

With a valuation of $1 billion, it can be assumed that a 1% ownership stake would have priced around $10 million. To date in his career, Mahomes had accumulated a mere $13 million in earnings on the field.

Endorsements

Throughout his brief NFL career, Patrick Mahomes has secured a number of endorsement agreements, including one from Hunt’s after he shared his fondness for ketchup. His sponsorships extend to brands such as Oakley, Hy-Vee, Essentia Water, Direct TV, State Farm, Adidas, Head & Shoulders, and Helzberg Diamonds. Notably, he became the cover athlete for Madden NFL 20, marking the first occasion a Chiefs player featured on the video game’s cover. Two years thereafter, he co-shared the cover of Madden NFL 22 with Tom Brady.

Personal Life

On March 12, 2022, Patrick Mahomes wed his high school sweetheart, Brittany Matthews. The couple is blessed with two children, a son and a daughter. He popped the question to Brittany on September 1, 2020, at Arrowhead Stadium, coinciding with the day he was honored with his Super Bowl ring.

In 2019, Mahomes established a nonprofit organization named “15 and the Mahomies Foundation,” aimed at enhancing the lives of children.

Additionally, Patrick is the godson of former Major League pitcher LaTroy Hawkins, who was once his father’s teammate with the Minnesota Twins.

Real Estate

In 2019, Patrick acquired a property in Kansas City for $1.9 million. He subsequently listed this property for just under $3 million in June 2019, and it sold within days of being put on the market.

Early in 2020, he purchased another home in Dallas for $3.4 million.

In 2021, Patrick invested $400,000 in an undeveloped plot within the upscale Loch Lloyd gated community in Kansas City. By 2023, he completed construction on his dream residence, which boasts a spacious mansion, a large swimming pool, a private pond, a par-three golf hole, and half a football field featuring his personal logo and name in the end zone.