Patrick makes a ton from his NFL salary but endorsements and shrewd investments are what will inevitably propel him to billionaire status; Read more NFL stories here. Super Bowl MVP Patrick Mahomes and All-Pro tight end Travis Kelce walked on stage with the Vince Lombardi Trophy and riled up the crowd before turning it over to NFL Commissioner Roger Goodell. Mahomes signed his first full contract with the Kansas City Chiefs in 2017, a $16.4 million deal over four years. Endorsement He will get an increase in a few yearshe knows it, we all know it, thats why hes not sweating. In a position of stars, Mahomes may be the NFL's biggest. Patrick Mahomes: Building A Billion Dollar Investment Portfolio After a trip to Disney World and an open-top bus parade to celebrate the team's success, Mahomes now finds himself playing a waiting game as he looks ahead to the offseason. Overall, Mahomes' investment portfolio is diverse and covers multiple industries. 12. Below is his year-by-year cash breakdown beginning with the 2022 season; it includes base salary, roster bonuses and workout bonuses but not incentives or signing bonuses. Patrick Mahomes This is the most lucrative sports contract, earning Mahomes significant income. Drew Bledsoe, a quarterback who dropped back in Jones' franchise cleats before him, offered a ringing endorsement of the current Foxboro flinger on the "Off the Patrick Mahomes Contract Breakdowns, Salary Cap Figures, It's hard to believe that Patrick Mahomes was an unheralded college football player at Texas Tech University just a few years ago. His savvy business decisions have made him an income powerhouse and will ensure that he will continue accumulating wealth for many years. Patrick Mahomes lives in Kansas City with his long time girlfriend Brittany Matthews, at the heart of the city. Their neighborhood is called the Sunset Hill West and is near the Mission Hills Endorsement Fickle NFL fan out one side of their mouth saying Oh these selfish NFL players, holding out for contracts and then on here dissing a dude for saying hes good with his contract not being the top paid QB in the league. Patrick Mahomes is an athlete first and a businessman second. But Mahomes says hes not concerned. Read more: The Chiefs took a big gamble by trading up for Patrick Mahomes, and now it looks like a steal. He also joined the LeBron James' Rock the Vote initiative to encourage people to register and vote. Patrick Mahomes celebrates a touchdown against the Jacksonville Jaguars. Lets get our priorities straight as a nation. In addition, he signed endorsement deals with Oakley, Essentia Water, Hy-Vee, State Farm, DirectTV, Adidas, and Head & Shoulders. A native Texan, Mahomes worked with a franchise group to help bring Whataburger to the greater Kansas City area. We probably cant help you much, but well cheer from the sidelines. Patrick Mahomes Hell sign for another 10 years when hes 32! Texans throw first curveball of draft with Stroud, Eagles are stacked after drafting Carter, Smith, Witherspoon is organic fit for Seahawks culture, Texans pull off back-to-back move to get Anderson, Lions taking Gibbs was headscratcher of Round 1, Patrick Mahomes: My contract has me set for life, other QB contracts dont affect me, In the end, the Packers fleeced the Jets for Aaron Rodgers, Aaron Rodgers blamed cell service at his house for not returning Brian Gutekunsts calls, Trade charts show Jets sending Packers equivalent of a high second-round pick in 2023, Odds greatly improve for Will Levis to be the first overall pick, Brian Gutekunst: It would have been nice to have had those conversations with Aaron Rodgers, Jim Irsay asks fans whether Colts should pair Will Levis with Anthony Richardson, Jalen Carter says Eagles will take him at No. Patrick also acquired a share in the Kansas City Royals baseball team to add to this impressive financial portfolio. To date, Mahomes has made just $24.545 million from his NFL earnings. But how did Mahomes achieve his success? Some of these comments are funny. Mahomes would be just as happy with a million a year as he would with 30 million. Refreshing and nice to hear from a top athlete. Patrick Mahomes KC needs to find players willing to get paid a lot but not max and win ships. QBs doing these cap friendly deals makes no sense because you have no idea what they will do with the saved money. extension with the Chiefs in July 2020, just the fourth year of his rookie contract. That means every season, Mahomes can pocket up to $2.5 million in additional funds. How much is Patrick Mahomes Net Worth in 2023. He was named MVP of the 2018 season before his team to a Super Bowl victory the very next year. Patrick Mahomes, who earns $76 per minute, once turned down His wealth will only grow as he continues to leverage his success and enter into more lucrative deals. Mahomes' current $140 million deal is fully guaranteed. Starting in 2022, Mahomes is earning an average of $45 million per year following his 10 year deal with the Chiefs. "Success helps, but likeability is a bigger factor. One of the first major purchases Mahomes made following his extension was a stake in the Chiefs' MLB neighbor, the Royals. Mahomes invested in Whataburger, the popular Tex-Mex fast food chain, to round out his portfolio. He was also the cover athlete for the Madden NFL video This makes Mahomes one of the highest-paid quarterbacks in history for a rookie deal with the Chiefs. According to one advertising executive, the reigning In 2023 he is also earning a roster bonus of $34,400,000 and a workout bonus of $550,000, while carrying a cap hit of $46,793,381 and a dead cap value of $94,880,143. He signed a contract extension worth up to How much money do you need? The Premier League is rated No. "I would compare him to Peyton Manning, though. A. In the end, ya, he is getting 40 million, so it is not like he is some saint, but his ego did not get in the way and hamper his chance to win. Stroud. Of course hes satisfied. The Chiefs got a bargain when they got Mahomes to sign for 10 years. He knows to appreciate his situation. Patrick Mahomes signed the biggest deal in NFL history in 2020. He along with teammate Tyrann Mathieu and several other NFL players have raised their voices to condemn police brutality and violence against black people in the United States and for the league to admit it was wrong for silencing. Money is one thing, but when you get those Super Bowl rings, at the end of your career, I think thats going to be what you look back upon. Here is a breakdown of all of his contracts, courtesy of Spotrac: Per CelebrityNetWorth.com, Patrick Mahomes net worth is $40 million. Here's how that contract paid out over the 2020 season, playoffs included: Including 2020 and 2021, Mahomes' total cash for the extension totals $477.63 million, which averages out to $39.8 million per year. Well, yes and no. Bring it on, haters! No championship since the deal and Tyreek got away. Mahomes has a great attitude and comments like these are why he is beloved in Kansas City. Since joining the Chiefs, his career has flourished as he led them to win Super Bowl LIV, the first in 50 years. Hes already more than set for life financially and shouldnt concern himself with the Deshaun Watson and Kyler Murray overpays. the biggest difference is he is focused on winning. How many times do we hear the sad tale of star athletes ending up broke? Now, though, we have in this batch of new quarterbacks, probably the most exciting bunch we've possibly ever seen. Your login session has expired. His success on the field earned him a 10-year, $450 million contract extension with the Chiefs in 2020. Tom Pennington, Getty Images. Thats reason #102,041 us Kansas City Chiefs fans love Mahomes! Does the contract length really matter? April 13, 2023 6:32 AM EDT. According to Forbes, Mahomes made $20 million in sponsorship deals in 2021, second only to Tom Brady among NFL athletes. Patrick Mahomes once served as a counselor at the Manning Passing Academy, a summer football camp for high school players that my dad founded in 1996. 20 Things You Didn't Know About Patrick Mahomes Follow us for breaking news and latest updates: NFL.com Drops Wrench into Vikings Mock Draft. In a year, Patrick Mahomes is estimated to make around $39.8 million. He sat behind & learned from veteran QB Alex Smith during his rookie season, taking over the starting role for his sophomore campaign. At 45,000+ subscribers, Huddle Up is quickly becoming one of the largest sports business communities on the internet every addition helps :). Adding more than $20 million through endorsements to his ~$50 million in annual NFL earnings is certainly nice, but the bigger impact will come from investing. Longevity is a big issue, attractiveness is a big issue, as is success. Patrick Mahomes found a way around the NFL's beer endorsement rule and it's for a good cause, too. Mac Jones Earns Rare Praise From Patriots Legend Drew Bledsoe AppSumo has helped launch hundreds of start-ups over the years and has given entrepreneurs access to cutting-edge tools to grow their businesses. Annual contract extension earnings: 2022: $35,793,381 2023: $46,793,381 2024: $44,293,381 2025: Asked if Mahomes could match his record-breaking new contract in off-field deals, Darrin Duber-Smith, a lecturer in marketing atMetropolitan State University in Denver, told Stats Perform: "For sure. He threw for more than 5,000 yards, 50 touchdowns, and won the NFLs most valuable player award. Also Read: Patrick Mahomes contract breakdown. The 25-year-old NFL quarterback also invested in Whoop, a human performance company that collects and provides physiological data 24/7 to optimize how you recover, train, and sleep, when the company raised a $100 million Series E funding round last year. If you enjoyed todays email, please share it with your friends! Alongside Deshaun Watson and reigning MVP Lamar Jackson, he is a superstar who will attract sponsors, not just with his play on the field but also his personality. With a height of 6 ft 2 in (1.88 m), Patrick is considered one of the most talented quarterbacks in the NFL today. Since joining as a strategic partner and investor in 2018, Mahomes has been involved in the company's growth. His portfolio includes various businesses, sports teams, and products. Look at the names. According to Celebrity Net Worth, Patrick Mahomes' net worth is approximately valued to be $40 million. Guaranteed money is getting out of control. Here's a breakdown of Mahomes' net worth, which includes money made in 2022 and over the course of his NFL career, plus endorsements and business dealings: Mahomes is one of the NFL's biggest draws. Mahomes followed up his MVP campaign with 26 passing touchdowns to just five interceptions in 2019. Logic says with salaries and guaranteed money skyrocketing, at some point 2-4? He was also the first Chiefs player to be on the cover of Madden NFL 20.