Patrick Mahomes, getting his deal restructured has now become a hot topic of discussion in the NFL world. Fans believe he is underpaid and the contract is outdated, especially in the wake of a Super Bowl victory. His peers and other quarterbacks have already superseded him in terms of average annual value, and Mahomes still ranks at the bottom of the top 10 list. However, overpaying Mahomes, who took home a $45 Million salary last season, might weaken the Chiefs’ roster. Contemplating all these developments and contract signings, NFL analyst Ari Meirov gave a detailed analysis of the quarterback’s future.
The #Chiefs won’t rip up Patrick Mahomes’ contract and give him a brand new one. He has 9 years left on a very team-friendly deal.
But the Chiefs and Mahomes could look to make some adjustments to his current deal so he’s up to par with other QBs.pic.twitter.com/0R7n5qGeQy
— Ari Meirov (@MySportsUpdate) May 10, 2023
The Chiefs quarterback signed a 10-year, $503 million extension in July 2020, making him one of the highest-paid quarterbacks in the league. Although it appeared to be a huge figure back then, the market has boomed to an unprecedented level. The recent signings of Jalen Hurts and Lamar Jackson pay testimony to this notion. However, if we go by reports, Patrick is set to become the highest paid QB in the NFL. Will this end up causing problems for Kansas City?
Is Patrick Mahomes really underpaid? Can we expect an extension ahead of the 2023 campaign?
Post Covid, the National Football League has increased its salary cap to $224.8 million this year. Hence, the team has more breathing space to manage its finances and devise plans to recruit new talents. This opened gateways for teams like the Philadelphia Eagles and the Baltimore Ravens to secure their futures by offering an extension to their gunslingers.
While Jalen Hurts bagged a five-year, $255 million extension, Jackson embarked on a similar path, signing a $260 million deal for five years. As a result, Hurts will draw $51 million per season and Jackson a whopping $52 million on average. Well, they both don’t have a Super Bowl title, and on the other hand, Mahomes is already a two-time champion, which means the ‘Grim Reaper’ should earn in excess of $60 Million. Right?
However, innumerable fans are afraid that giving Mahomes a new cash-heavy deal might prevent Kansas City from continuing to have a strong roster. But NFL analyst Ari Meirov reckons that the Chiefs management won’t let that happen. In a recent Twitter video, Ari explained that Kansas City won’t rip out Mahomes’ existing contract, but would rather opt for adjustments while restructuring the deal.
Ari stated that the Chiefs won’t go crazy in a bid to keep Jackson happy. He claimed that by doing minor adjustments in the existing contract, they’ll end up giving Mahomes a $51 Million+ salary. This sum won’t actually push the Chiefs against the wall. Moreover, judging by the way Patrick’s attitude has been towards KC, he will not force his unit to go overboard while paying him.
Will a new deal make a drastic difference in Mahomes’ wealth accumulation?
The 27-year-old has become a big entity in the entire sports fraternity. He attracts top brands around the world for endorsements and advertising campaigns. Companies like Oakley, BioSteel, Adidas, State Farm, and Head & Shoulders happen to be his long-time partners. According to wearellison.com, the gunslinger earns as much as $7 million from these relationships, apart from his NFL salaries.
While his restructured deal won’t make that big a difference, it does seem fair that the most successful QB in the league, who also happens to be extremely young, is paid the highest amount of salary. His best men, Travis Kelce and Chris Jones, have already signed extensions. Hence, Mahomes is also expected to be the next to receive an offer sheet, obviously with a bigger amount at stake. As this is a developing story, readers can stay tuned for more updates.