Already ‘Underpaid’ Patrick Mahomes’ $20 Million Restructured Contract With Chiefs Proves He’s the Ultimate Team Player

The Chiefs have made another smart play! Or rather, Patrick Mahomes did! The Chiefs tweaked Patrick Mahomes’ contract. Why, you ask? So that they could get some breathing room with the salary cap. This will help them piece together their team for the upcoming 2024 season.

This isn’t the first time they’ve pulled a move like this. Last summer they converted a $12 million roster bonus Mahomes had into a signing bonus. That opened up $9.6 million in salary cap space. And what did they do with that extra cash? They brought in some new talent, like safety Mike Edwards and LB Drue Tranquill. Now, they’ve done it again.

Patrick Mahomes helps the team

Dan Patrick had some insights on his show. He pointed out, “If you go back to 2020, he had a, uh, team-friendly deal. And we said this at the time. I said in this contract he will be underpaid. He’s already underpaid, but he decided that he was going to free up over $20 million in cap space this offseason.”

Thanks to Mahomes’ willingness to play the long game, the Chiefs have been able to keep their core group together. We’re talking names like Chris Jones and Travis Kelce. Additionally, promising talents like Trent McDuffie, Creed Humphrey, and L’Jarius Sneed as well. The Chiefs have carved out a cool $21.6 million in salary space. He had signed a massive 10-year, $450 million extension back in 2020.

Even with a contract of that size, he’s still underpaid. How so?

Is Mahomes really underpaid? What do the numbers say?

Mahomes isn’t topping the salary charts! Yeah, that’s hard to believe, considering his skills. With an average annual value of $45 million, he’s sitting at eighth among NFL players. That’s right, despite all his titles and awards, there are seven players pocketing more than Mahomes each year! Instead of chasing every last dollar, he made a conscious choice to help the Chiefs keep their squad competitive.

Mahomes himself put it best before Super Bowl LVIII. For him, this delay in payment is worth it to ensure the team stays top-notch. He’s all for thinking expansively when it comes to QB earnings, but not at the expense of the team’s dream of a 3-peat.

It’s an even more interesting contrast when you look at others in the league. Joe Burrow, for instance, topped the charts with a staggering $55 million AAV. Despite his squad missing out on the playoffs this season. And then there’s Justin Herbert, pocketing $52.5 million. $7.5 million more than Mahomes.

When will the day come for the QB to earn his dues? Will his effort pay off for the red and white team as they prepare for the 3-peat?

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