As the Kansas City Chiefs made their way back into the news with their record-breaking extension of star quarterback Patrick Mahomes, the former Texas Tech star has a ton of guaranteed money coming his way. In this specific post, though, we’re looking at Patrick Mahomes’ net worth in 2021.
Patrick Mahomes’ net worth in 2021 (estimate): $30 million
Reaching as much as $503 million for his newly-signed deal, Mahomes is tied to the Chiefs for the next 12 years, with two of those seasons being the final two years of his rookie contract that he will play out before jumping into his extension. A colossal undertaking for the Chiefs to swallow in terms of their salary cap sheet, the onus will be placed even more on the shoulders of Mahomes as he will be placed under even more of a microscope, forced to outplay the monster deal that he just received, all while needing to take this team into dynasty territory.
Creating a dynasty is certainly within the realm of possibilities for this team, but the defense is the big wild card element here that will dictate how long and if this team even earns a bid into that famed territory that so many franchises have tried to reach but have fallen just short in. But enough about the team, let’s take a look at the first-ever professional athlete to sign a contract worth over a half-billion dollars in total value.
$30 million seems to be just a small drop in the bucket for what Mahomes will start earning in two seasons, but that is what his current estimated net worth is, according to Celebrity Net Worth.
His original rookie deal was for four years with a team option for a fifth season, and since that option was recently picked up by the team, constituting one of the easiest no-brainer moves the NFL has ever seen, his current contract holds a total value of over $47 million, $13.7 million of which Patrick Mahomes has already earned through the first three years of his NFL career.
The yearly breakdown of his total cash earnings looks something like this for his rookie deal:
2017 – $10,551,026
2018 – $1,211,635
2019 – $1,958,270
2020 – $10,825,000 (not earned yet)
2021 – $22,806,905 (not earned yet)
With $13,720,931 having already gone into Mahomes’ pockets, the remaining $33,631,905 is set to be earned over the final two years of his deal, including the fifth-year option, which is always a hard pill for teams to judge, especially since that option must be accepted or declined before every first-round player suits up for his fourth season.
Obviously with the results that Patrick Mahomes has put up through his three seasons, which include winning both the League MVP and Offensive Player of the Year awards in 2018, followed up by a Super Bowl ring and the game’s Most Valuable Player award one year later, the writing has been on the wall for a very long time that the Chiefs would need to dole out a considerable amount of money to keep him in town.
In regards to his non-football money-earning operations, Patrick Mahomes is very prevalent across the spectrum for brand endorsements, having secured lucrative contracts with the likes of Adidas, Oakley, State Farm, EA Sports, Hunts, Head and Shoulders, and Proctor & Gamble, as well as local brands and companies like Community America Credit Union and Airshare, a private jet company.
Exclusivity is a very valuable asset that only a select few athletes are able to capitalize on in their athletic careers, and Patrick Mahomes has reached that step where he falls into that category now.
For the deal that Patrick Mahomes has with Oakley, he is the first NFL player to have signed a deal with Oakley, as he is the face of the brand’s Prizm optics line and the “See it in Prizm” campaign, according to Yahoo News.
In a Bloomberg piece that came out shortly after the Chiefs secured their first Super Bowl title since 1970, an advertising executive thinks that Patrick Mahomes could easily bring in “as much as $7 million a year in additional endorsement income.” That boost alone, on top of all of the existing endorsement deals that he has, would easily push him towards doubling his net worth, when combining his endorsement money with his NFL contract money.
The idea that Patrick Mahomes will slow down anytime soon, both on the field and off of it, is a ludicrous assessment to make, especially since he has not demonstrated any sort of validity to that statement. The fact that he just agreed to a deal that tacks on 10 more seasons on top of the remaining two years on his rookie deal means that his commitment to the sport that he switched from baseball to is very, very solid.
Injuries have slowed him down in the past, but nothing that should produce any sort of long-term concerns for either his team or any sort of business partners, and the kind of lore that he already has following him is such an easy tactic for brands to want to capitalize on, simply for the fact that their return(s) on investments would happen almost overnight.
Patrick Mahomes is very close to reaching the level that the likes of Lebron James, the late Kobe Bryant, Tiger Woods, and other high-profile athletes have reached during their careers, in the sense that their names travel very far and very well when attached to a product, service, or message, and people actually stop and direct their attention to them.
While Patrick Mahomes is on the top of his game currently, he may need to produce one or two more A++-level seasons before being able to cement himself in the legend category, but that famed accomplishment is surely within reach within a few years, provided he remains on the top of his game.
The odds of Patrick Mahomes reaching the level that LeBron has reached are practically impossible, as even the King himself was the cream of the crop when he entered the NBA, not having to sit for a year before being given a shot. But not holding that against Mahomes is the fairest outlook to hold, and he has easily and already shattered any realistic expectations people may have had for him when he was drafted back in 2017. Nonetheless, were you at all shocked by Patrick Mahomes’ net worth in 2021?