Sources: Chiefs, Patrick Mahomes agree to 10-year, $400 million-plus extension https://www.espn.com/nfl/story/_/id/29418825/sources-chiefs-patrick-mahomes-agree-10-year-extension I wonder how much is the signing bonus
https://www.cbssports.com/nfl/news/...extension-worth-up-to-503-million-per-report/ I dunno whose reporting is right, at this point, but whether he's the 400 million dollar man or the 503 million dollar man... Maaaaan, that's a lotta money. Half a billion dollars. Wowzers.
Patrick Mahomes’ new contract is light in the signing bonus department but has huge roster bonuses throughout the next few years, sources say. Starting in 2022, and for 10 years running, Patrick Mahomes has a $1.25 million incentive for winning AFC Championship game and a $1.25 million incentive for winning NFL MVP, per source. That’s $25M of incentives over 10 years, taking value of his deal from $477M to $503M. The #Chiefs and QB Patrick Mahomes have agreed to terms on a 10-year extension worth $503 million, sources tell me and @TomPelissero. He gets $477M in guarantee mechanisms and gives the ability for Mahomes to have outs if the guarantee mechanisms aren’t exercised. No trade clause. What’s the guarantee mechanism? Basically, the team guarantees Patrick Mahomes' salary a year out. And if they don’t pick up each guarantee, they have to cut him (to avoid picking up the future guarantee). Mahomes gets "only" a $10 million signing bonus, then has huge roster bonuses on rolling guaranteed basis in future years, including a whopping $49.4M bonus due in 2026. Virtually the entire deal is conditionally guaranteed. Leaves #Chiefs with a lot of short-term flexibility. By March, $106M will be fully guaranteed. Here's a breakdown of the cash flow on Patrick Mahomes' new contract with the #Chiefs. It'll take more than one tweet to fully explain, but the bonuses have varying vesting dates that paint a fuller picture of how the deal works. Rolling guarantees are common in NFL contracts, but never over the entire life of a 10-year extension (12-year deal). Patrick Mahomes gets over $63 million fully guaranteed at signing and $103M by next March. Most of the salaries and bonuses vest a year or two before they’re due.
NFL contracts probably ain't worth the paper they are printed on. I would take a shorter more garunteed contract. Like 5 years 250 all garunteed.
Not too shabby! Kid gets 63Ms just to sign the contract .. play a year, next Spring he guarantees 103Ms of the contract, and everything matures a year early plus a 160M injury kicker? Symbiotic contract considering the raw numbers. Oooof imagine the kid starts regressing or team needs to start trimming star power to accommodate the numbers and he becomes Eli Manning.
The Chiefs and Patrick Mahomes have restructured his agreement, giving him $210.6 million between 2023 and 2026, the most money in NFL history over a four season span. His compensation for those years is now guaranteed. Also, the Chiefs and Mahomes plan to re-visit the agreement again after the 2026 season, as told to ESPN by Equity Sports CEO, Chris Cabott, who negotiated the deal on behalf of Mahomes.
I think these were the size and old payment terms team owners would get for either franchise fees, franchise purchases or stadium financing; ten years interest free.
