The news Monday of Patrick Mahomes' historic contract extension is excellent news for Andy Reid, who should have a good chance to add more Super Bowls to his resume. The contract has $63.0819 million fully guaranteed at signing including a $10 million signing bonus. Patrick Mahomes Salary in 2021. Russell Wilson was previously the highest-paid quarterback in the NFL with his $35 million salary, so Mahomes dwarfed that number. Save. Chiefs. Patrick Mahomes contract is seen by some as a major obstacle. Mahomes’ new contract adds 10 years onto the two he had remaining on his rookie deal, so he is now tied to the Chiefs through 2031. After leading the Chiefs to their Super Bowl win last season, Mahomes and agency Steinberg Sports went into contract negotiations with the leverage to secure the NFL’s first-ever $200 million contract. Mahomes was also offered a £7.2m bonus at the time of signing his new contract. Patrick Mahomes No Jet-Skiing Or Hoops For Me All Part Of New Contract!!! Do Not Sell My Personal Information. Patrick Mahomes contract is … Mahomes in 2021 will receive a base salary of $990,000. He’s not maximizing career earnings by taking on a 10-year extension. With bonuses and other incentives, Mahome’s salary in 2021 rises to as high as $22.807 million. It’s the “Tom Brady Model” for years with the Patriots. Show full articles without "Continue Reading" button for {0} hours. However, Schefter noted that there is no language like that in the deal. Deshaun Watson signed a four-year, $156 million extension after Mahomes and will get another contract in his prime. When you have a contract that is effectively fully guaranteed, cash flow doesn’t matter anymore.”. MVP in 2018. Here's a breakdown of the cash flow on Patrick Mahomes' new contract with the #Chiefs. The NFL star will also rake in £1.5m in guaranteed loyalty bonuses each year until 2024. Corry said some industry experts believe Mahomes left more than $100 million on the table. The NFL star will also rake in £1.5m in guaranteed loyalty bonuses each year until 2024. Listen on Apple Podcasts | Spotify, Up In The Blue Seats: A NY Rangers Hockey Podcast Mahomes was also offered a £7.2m bonus at the time of signing his new contract. Mahomes, 24, signed an extension worth $503 million on the heels of a Super Bowl win. Best Presidents Day sales 2021: 32 huge deals from top brands, Nordstrom Rack takes up to 75% off clearance items for Clear The Rack sale, Best Presidents Day furniture sales 2021: 16 deals on beds, couches, more, Sephora takes 50 percent off top beauty products for Presidents Day sale, Best moisturizers for dry skin 2021: 29 expert-approved face products, 'Bridgerton' star Regé-Jean Page snapped embracing mystery woman before flight, 'A-Train Ripper' busted, still covered in blood, in knife attacks on NYC subway. His new contract is worth $650m. Mahomes also gave the Kansas City Chiefs a nice discount in his new contract extension that could pay him half a billion dollars. Listen on Apple Podcasts | Spotify, Big Apple Buckets: A NY Knicks Basketball Podcast “The Deshaun Watson conventional model, where you give up no more than four new [contract] years, is going to be the trend. Contract Notes Patrick Mahomes signed a 10 year, $450 million contract extension with the Chiefs on July 6, 2020. PATRICK MAHOMES' RECORD $503 MILLION CONTRACT DETAILS REVEALED. It includes $141 million fully guaranteed for injury, with $63 million guaranteed at signing. Dak Prescott needs a new contract and it got more complicated for the Dallas Cowboys after the Chiefs gave Mahomes a lot of money. According to a report from NFL Network’s Ian Rapaport, the surgery was completed successfully with “no issues at all.” Mahomes … July 7, 2020 — 7.42am. The #Chiefs and QB Patrick Mahomes have agreed to terms on a 10-year extension worth $503 million, sources tell me and @TomPelissero. “People have been looking at basketball for years going, ‘When are the NFL guys going to catch up to basketball?’ ” Banner said. Glue as I do: Salon owner admits he’s been using Gorilla Glue on clients... Bam Margera seeking treatment after alarming 'Jackass' boycott videos, Bill Gates' daughter jokes on social media about getting COVID-19 vaccine, A-Train Ripper: Serial killer loose on subway, say cops, © 2021 NYP Holdings, Inc. All Rights Reserved, Daughter of Lombardi Trophy designer wants apology from Tom Brady, Tom Brady’s intriguing Super Bowl trash talk staying an NFL secret, Tom Brady to undergo knee surgery after Super Bowl win, Two ways to look at first 100 days of Steve Cohen Mets era, Knicks, Immanuel Quickley making NBA take notice, Big Apple Buckets: A NY Knicks Basketball Podcast, Fullcourt on Flatbush: A Brooklyn Nets Basketball, Up In The Blue Seats: A NY Rangers Hockey Podcast. Connect with friends faster than ever with the new Facebook app.