Patrick Mahomes Net Worth 2020, Salary, $503M Contract

Patrick Mahomes Net Worth, Salary, Contract, Endorsements

What is Patrick Mahomes net worth?

Patrick Mahomes II is a professional football player from America who plays in the National Football League (NFL) for the Kansas City Chiefs. Mahomes’ athleticism, talents, and skills rank him among the top quarterback currently playing in the league. With huge prospects, a young star, Mahomes who comes from a family with strong ties to sports, brought to life, a reality he had envisioned years ago at the Super Bowl LIV. 

In 2013, Mahomes, a high school student, tweeted his wish to be a Super Bowl MVP one day. At his maiden Super Bowl appearance, Mahomes’ 7-year old dream came to pass. He not only won the Super Bowl MVP award but also claimed the Super Bowl title with the Kansas City Chiefs. How inspiring! 

Since he debuted in the league in 2017, Mahomes has consistently pulled incredible performances, which has seen him earn several individual laurels aside his Super Bowl MVP win. 

With an emphasis on Patrick Mahomes’ worth, we’ll review his career, salary, new contract details, endorsements deals, charity works, and luxury lifestyle.

Net Worth:$30 Million
Salary:$10.8 million per year
Date of Birth:September 17, 1995
Age:25 years old
Nationality:American
Source of Wealth:American Football Player
Last Update:2020

Career Summary

Mahomes played three years of college football before entering the 2017 NFL Draft. In his junior year and final season of college football, Mahomes ranked as the top passer in the US, which earned him the Sammy Baugh Trophy. Before the NFL Draft, Mahomes participated in the NFL Combine, where his passes were as fast as 60 mph, the fastest in NFL Combine history. ESPN and Sports Illustrated thus ranked him as the third and second-best quarterback, respectively. In the Draft, the Kansas City Chiefs selected him as the tenth overall pick. 

In July 2017, Mahomes penned a four-year deal with the Chiefs worth $16.42 million. His rookie season was quite impressive as Mahomes was allowed to play during the playoff and thus recorded 22 passes completion out of 35. The 2018 season proved to be a memorable season for Mahomes. That season, Mahomes recorded several feats. He became the Chiefs starting quarterback following the trade of Alex Smith. 

In January of the season, he recorded his first career touchdown. He became the first player since 2011 to record back-to-back AFC Offensive Player of the Week honors, which earned him the September’s AFC Offensive Player of the Month. By Week 17 of his second season in the NFL, Mahomes emerged as the second NFL quarterback to record 50 touchdowns and 5,000 passing yards. His season ended as the New England Patriots defeated the Chiefs at the AFC Championship game. He was named to the Pro Bowl for the first time and received several awards, including Best NFL Player ESPY Award, AFC Offensive Player of the Year, and the NFL MVP. 

In the Top 100 players of 2019, Mahomes ranked fourth. Following his incredible 2018 season, Mahomes came out with renewed confidence in the 2019 season. He championed the Chief’s campaign, which saw them defeat the Tennessee Titans in the AFC Championship to lead the Chiefs to their first Super Bowl appearance since 1970. At the Super Bowl LIV, Mahomes led his side to their first Super Bowl victory in half a century. He was then named the Super Bowl MVP. 

As the world awaited the return of the NFL following its suspension due to the Coronavirus pandemic, Mahomes shattered headlines when he signed a 10-year deal worth $477 million, the highest contract in North America’s sports history.

Patrick Mahomes Net Worth in 2020

Patrick Mahomes net worth is currently valued at about $30 million as of 2020. The Kansas City Chief’s star’s worth is bound to take an enormous jump following his new 10-year deal worth $477 million. With incentives and other bonuses, the deal shoots up to $503 million, which is the first half a billion contract in sports history and the most lucrative contract in North America’s sports history. It comes as no surprise that Mahomes signed such a profitable deal. 

Mahomes has shown his worth since he arrived in the NFL three years ago. The fact that his stay in the league is just three years old, and he signed such a deal that beats all the transactions of the big shots in the NFL, makes it even more astounding. With the new contract and the sort of attention, Mahomes will command that endorsements will be more profitable for Mahomes. His fortune could rise as high as $100 million in the next couple of years.

Patrick Mahomes Wealth
Photo: patrickmahomes/Instagram

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Patrick Mahomes Salary in 2020

Mahomes, who is currently in the third year of his four-year $16.42 million deal with the Chiefs, will receive a base salary of $825,000. With bonuses and other incentives, his 2020 pay rises to as high as $10.825 million. Patrick Mahomes’ new contract could see him earn an average salary of $45 million a year.

Patrick Mahomes Contract Details

Patrick Mahomes record-breaking 10-year contract would see the top NFL star earn as much as $503 million, which makes it the biggest deal ever in sports history. The total earnings per annum consist of Patrick Mahomes’ salary (base), bonuses (roster and workout), but without pay, incentives, and signing bonuses.

Outlined below are Patrick Mahomes’ contract extension details with the Kansas City Chiefs, assembled from Spotrac and Pro Football Talk.

YearTotal CashSalary (Base)Roster BonusWorkout Bonus
2020$10.825 million$825,000
2021$22.807 million$990,000$21.717 million$100,000
2022$29.45 million$1.5 million$27.4 million$550,000
2023$40.45 million$5.5 million$34.4 million$550,000
2024$37.95 million$2.5 million$34.9 million$550,000
2025$41.95 million$2.5 million$38.9 million$550,000
2026$41.95 million$2.5 million$38.9 million$550,000
2027$59.95 million$10 million$49.4 million$550,000
2028$44.45 million$13 million$30.9 million$550,000
2029$44.95 million$20.5 million$23.9 million$550,000
2030$50.45 million$27 million$22.9 million$550,000
2031$52.45 million$38 million$13.9 million$550,000
Patrick Mahomes new contract makes him the first half billion dollar athlete in the history of sports.

Patrick Mahomes Endorsements & Sponsorships

Mahomes has endorsement/sponsorship deals with Procter and Gamble, Oakley, State Farm, Airshare, and Adidas.

Patrick Mahomes Charity & Philanthropy

Patrick Mahomes founded the 15 and the Mahomies charity in 2019, through which he supports other charities. The 15 and the Mahomies foundation works towards “improving children’s lives,” as stated on its website. Through his foundation’s 15 FOR 15 program, he gave out $15,000 to 15 charities in Kansas in 2019.

Patrick Mahomes Luxury Lifestyle

House

Along with his girlfriend, Mahomes lives in a three-bedroom apartment in Kansas. The residence covering 3,759 square feet was built in 1953 and cost Mahomes and his girlfriend, $1.9 million. One part of the home he loves is the shoe closet, which houses 180 pairs of shoes. 

Cars Collection

Mahomes’ car collection includes a 2019 Genesis G70, which he won at the 2019 Pro Bowl.

Lessons from Mahomes Wealth & Rise to Fame

Following the exciting story on Patrick Mahomes’ rise to fame, wealth, and how he became successful, here are two incredible lessons from the top promising star.

1. Focus squarely on your goals

In 2013, Mahomes, who was an athletic standout in high school, tweeted his desire to be a Super Bowl MVP someday. That day arrived in January 2020 when he led the Kansas City Chiefs to their first Super Bowl title in half a century. Seven years after he expressed his wish on social media, coming at that point was the product of intense hard work and focus.

2. Consistency

When he arrived in the NFL in 2017, Mahomes began consistently delivering top performance, which soon made him the chiefs starting quarterback. He followed that with a terrific 2018 season, which earned him several laurels. Mahomes followed that with another brilliant season, which saw him win the Super Bowl MVP. His consistent performances made him record the various successes he has had so far.

Summary

In 2020, Patrick Mahomes net worth is valued to be $30 million. His salary is estimated to be about $10.8 million in 2020. Mahomes’ new record-breaking 10-year contract with the Kansas City Chiefs would see the top star earn up to $503 million if he does take it to the end.

Conclusion

Goals can only be achieved through intense hard work and focus. What are your thoughts about Patrick Mahomes net worth? Please feel free to share it in the comments section below.

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