We all know that Kansas City Chiefs quarterback Patrick Mahomes will get paid a boatload of money when he signs a contract extension.
Ahead of the 2019 offseason, Mahomes was reported to be a candidate to sign a record-breaking deal with a total value that could hit or exceed $200 million. Right now, it doesn’t look like that report was too far off from reality.
On Thursday, the Eagles signed Carson Wentz to a contract extension bringing his total contract value up to $154 million over the next six years. The deal included a record-breaking $107 million in guaranteed money and carries an annual value of around $32 million. It beat Russell Wilson’s extension with the Seahawks that was signed less than two months ago.
Wentz’s deal will have a much greater impact on the Dallas Cowboys’ Dak Prescott and the Los Angeles Rams’ Jared Goff than it will on Mahomes. Those two quarterbacks are the next in line to sign extensions and they’ll use Wentz’s extension as a starting point in negotiations. Typically with quarterback contracts you can expect roughly a 5-10 percent increase in annual salary numbers, because NFL agents are continually trying to better the last deal that was signed.
If Prescott and Goff only push for the slightest increase, they could already be closer to the $200 million mark with annual numbers inching toward $35 million per year. Those numbers will be much more important to the eventual extension that Mahomes signs.
A total value of $200 million may seem like a lot to pay Mahomes, but keep in mind that just a year or two after he signs, new QB contracts will likely render that contract a steal. With the collective bargaining agreement nearing its end, and a push for more guaranteed money in contracts, there’s a chance for Mahomes’ future contract to become quite team-friendly.
It’s hard to project bonuses and guaranteed money that could be attached to a potential deal with Mahomes. You can rest assured that Mahomes’ contract will have over $100 million in guaranteed money. That’s something that will likely be standard after Prescott and Goff get paid.
One part of the contract structure for Wentz that I think will be similar to what happens with Mahomes is that the Chiefs won’t alter the guarantees on the remaining years of his current rookie deal. The huge guarantees in Wentz’s deal don’t kick in until after the final two years of his rookie deal are up.
Mahomes and his agent have previously stated that he wants to spend his entire career playing in Kansas City. It’s still a year before the Chiefs can even begin to negotiate with Mahomes, but you have to think that this extension is already on the mind of the decision makers in the Chiefs organization.
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