NFL Rumors: Patrick Mahomes tipped to race past $450M deal to become highest-paid player ever

Patrick Mahomes is already a two-time NFL Most Valuable Player and two-time Super Bowl Champion in his first five seasons as starting quarterback.

The Kansas City Chiefs deserve some credit after making him the highest-paid player in history, even before winning the Super Bowl LVII against the Philadelphia Eagles.

However, it didn’t take long before his 10-year, $450 million contract extension lost the top spot in terms of annual average value. That’s why Pro Football Talk host Mike Florio believes Mahomes and the Chiefs will restructure the deal to help him return to number one.

Recently, Florio criticized Chiefs general manager Brett Veach for Mahomes’ “grossly underpaying” contract. This time, he suggested that adding three years and more than $156 million to his current deal would help him overtake Lamar Jackson.

The Baltimore Ravens starting quarterback signed a five-year, $260 million contract during Day 1 of the 2023 NFL Draft. Its $52 million AAV is $7 million higher than Mahomes’ deal, even if Jackson hasn’t been to a Super Bowl.

The 2022 NFL season was the first under Patrick Mahomes’ mega extension. With a long way to go before the deal expires, Florio believes that a revamped deal for the three-time All-Pro quarterback will happen soon. But every succeeding quarterback deal will impact the new contract’s details.

While Mahomes has the richest contract in sports in terms of total value, it has flexible terms that allow the Chiefs to build a competitive roster around him. His cap hit reads $35 million, $39 million, and $46 million in the first three years.

The challenge now for the Chiefs is to make him the highest-paid player in football while maintaining their salary cap flexibility.

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The drastic change in the quarterback market since Patrick Mahomes’ current contract

The Deshaun Watson contract took the quarterback market to a new level

Salaries for NFL quarterbacks have gone through the roof since Patrick Mahomes signed his current deal on July 2020. Deshaun Watson agreed to a five-year, fully guaranteed $230 million contract with the Cleveland Browns. But the Browns cleared $35.8 million of cap space this offseason by converting Watson’s 2023 salary of $44.29 million into a signing bonus.

Meanwhile, Aaron Rodgers agreed to a three-year, $150.8 million restructured contract with the Green Bay Packers. But the four-time NFL MVP will suit up for the New York Jets. Finally, Jalen Hurts pushed the quarterback ceiling to over $50 million after agreeing to a five-year, $255 million contract extension.

The new contracts of Kyler Murray and Russell Wilson pushed Patrick Mahomes’ deal further down. The Arizona Cardinals’ play-caller has an active five-year, $230.5 million contract, while Wilson is under a five-year, $242.5 million contract extension.