How much will Patrick Mahomes make if he wins the Super Bowl? Breaking down Chiefs QB's contract 

Patrick Mahomes is playing for more glory in Super Bowl 58. Leading the Kansas City Chiefs to victory will give him three Super Bowl titles before he turns 30. That result will also tie him with Troy Aikman and Earl Morrall for the third-most Super Bowl victories by a quarterback.

But aside from cementing his credentials for the Pro Football Hall of Fame, the two-time NFL Most Valuable Player will earn money for capturing his third Lombardi Trophy in five seasons. CBS Sports NFL insider Jonathan Jones tweeted:

“A Super Bowl win would give Patrick Mahomes an extra $1.25 million. Lot of big moves to be made for Kansas City after this weekend, and they'll no doubt work to lower Mahomes's cap hit ahead of free agency.”

While that amount is nothing compared to his contract extension with the Chiefs, another Super Bowl championship for Kansas City solidifies Mahomes’ spot as the league’s best quarterback.

---

Exploring Patrick Mahomes’ contract, net worth, and cap hit for the next four years

Patrick Mahomes signed a 10-year, $450 million contract extension on July 6, 2020. At the time, he and the Chiefs were fresh from winning Super Bowl 54 against the San Francisco 49ers. The former Texas Tech standout was also the league MVP and Super Bowl MVP that season.

His second contract with the Chiefs included a $10 million signing bonus, $63 million guaranteed at signing, and $141.4 million in total guaranteed money. He can earn additional cash by satisfying specific incentives, like the $1.25 million he will pocket if the Chiefs win Super Bowl 58.

However, Patrick Mahomes’ mega-extension took effect in 2022. When he signed his next deal, he had two years left in his rookie-scale contract. Likewise, the Chiefs exercised a fifth-year option worth $24.8 million for him.

Mahomes rewarded the Chiefs’ faith in him by delivering the franchise’s third Super Bowl victory and second during his tenure. They defeated the Philadelphia Eagles in Super Bowl 57, two years after the Chiefs lost to Tom Brady and the Tampa Bay Buccaneers in Super Bowl 55.

Signing the most lucrative contract in NFL history saw his net worth surge to $80 million as of February 2024. But while the Chiefs have turned into a dynasty under his leadership, his contract’s $45 million annual value looks like a bargain compared to the deals signed by Jalen Hurts, Lamar Jackson, Justin Herbert, and Joe Burrow.

The surging quarterback market prompted the Chiefs to restructure Mahomes’ deal, adding $43.3 million into his earnings from 2023 to 2026. This adjustment increased his guarantees to $208.1 million, per Spotrac.

As Patrick Mahomes’ contract enters its third year, the Chiefs will start to deal with his massive cap hit. He will have a $57.3 million cap hit in 2024, $60.8 million in 2025, $63.2 million in 2026, and $59.4 million in 2027. Absorbing these amounts will impede the team’s ability to retain other key free agents or sign new players.

But as Jones wrote, the Chiefs can restructure the contract to save $37 million in cap space and bring his cap hit in the low $20 million range. Doing so gives them the financial capability to retain valuable players like Chris Jones, Willie Gay, Donovan Smith, Drue Tranquill, and L’Jarius Sneed.