When it comes to revenue, the NFL might be the most valuable league out there to generate more than $20 billion per year. Even the standards of contracts players are receiving in this league are simply astonishing. With emerging QBs, Tua Tagovailoa and Jordan Love signing their lucrative contracts. It has placed them among the highest-earning NFL players in terms of average salary per year. This makes us think is the league’s reigning MVP, QB Patrick Mahomes, who has guided the Chiefs to their second consecutive Super Bowl title, a little underpaid.

Jordan Love had an explosive first season, starting with the Packers. Thereby earning a contract extension worth $220 million for four years with an average of $55 million per year. Meanwhile, Tua, who dominated the NFL passing yards charts with the Miami Dolphins, was offered a contract extension valued at $212.4 million and an average of $53.1 million per year. Reacting to those bumper contracts, Patrick Mahomes said, “It’s awesome for the game of football,” in an exclusive interview with USA TODAY Sports. 

Mahomes also went on to explain his excitement regarding the valuation of the QB position by stating, “It’s awesome for the quarterback position, but I think all positions. I know every time a contract comes up, everybody looks at my APY (average per year) and everything like that. Talking about APY, the $450 million contract that Mahomes signed back in 2020 for 10 years signals he is pretty underpaid.

With an average of $45 million per year, Mahomes contracts are nowhere near the ones of Joe Burrow and Trevor Lawrence, who are reported to earn $55 million, respectively, in their current deals per year. But Mahomes was pretty humble regarding his contract situation, to which he added, “I’m doing pretty well myself. For me, it’s just about going out there trying to win football games. Trying to make money for my family at the end of the day. I feel like I’m doing a great job of that.” 

Going back, the contract had more than $141 million in guarantees, but that amount was gradually extended to $208 million. While talking about his contract, Mahomes also pointed out his relationship with the Chiefs. “It’s about having that plan, that constant communication. And we have that here. I’m happy to see guys going out and getting as much money as possible. That’s awesome for the sport. But here we have a great communication system where I feel like we’ve done the best with what we can do.” Mahomes contract ended up being a huge factor for the Chiefs, opening up a cap room of more than $50 million. Thereby helping his team to secure more long-term deals elsewhere. But he might be aiming for something bigger in the coming years after seeing other NFL players doing their bits on the table.

Patrick Mahomes restructures deal to open up salary cap space for the Chiefs

Remember when the New England Patriots dominated the NFL with Tom Brady leading from the front? That’s when Brady continued to play below his original market value. But this ensured the Patriots kept their best players while signing new ones every year. It looks like the Chiefs might be heading to that path that managed to keep the Patriots dynasty running. Mahomes, who is set to restructure his deal this offseason, will open up cap space of more than $21.6 million. Moreover, this is the second time the reigning MVP has decided to restructure his deal within a space of six months.

Responding to those restructuring, Mahomes said, “When I restructured, kind of moving money around the last time, we talked about a certain year when we were going to go back and do it again.” Pat choosing to restructure his deal yet again was a huge relief for the Chiefs financially. As they went into the off-season with $7,478,547 in cap space. This allowed them to re-sign Chris Jones for a five-year deal worth $95 million, including guarantees. 

Having helped the Chiefs with securing multiple contract extensions, Mahomes didn’t shy away from mentioning his agents. “We do a great job,” Mahomes said, referring to his agents Chris Cabott and Leigh Steinberg. Although Mahomes is currently unhindered about a new deal, it might be sooner rather than later when he comes back asking for a contract extension. And, depending upon his performances for the last few seasons, he is well-deserved for the highest contract ever signed by an NFL player.