Patrick Mahomes’ contract isn’t all that ‘team-friendly’ once you dig into its construction

Like clockwork, every NFL offseason appears to see a brand new highest-paid quarterback within the league — typically reflecting a group locking up their starter whereas he’s on a rookie contract.

Earlier this month, it was Jacksonville Jaguars passer Trevor Lawrence’s flip to reset the market. The first number of the 2021 draft signed a monster extension value $55 million per season, tying him with Joe Burrow of the Cincinnati Bengals for the place’s highest common annual worth (AAV).

Another inevitability of the quarterback market is that when a brand new profitable deal is introduced, focus will circle again to Patrick Mahomes’ comparatively low AAV.

The league’s greatest star signed a 10-year pact for $450 million in 2020. Four years later, an exponentially rising quarterback market has seen Mahomes’ $45 million per season fall to solely the ninth-highest within the league.

Be effectively conscious, nonetheless, Mahomes isn’t giving the Kansas City Chiefs a large hometown low cost. His standing because the ninth-highest paid quarterback within the league is a fantasy that solely exists for accounting functions.

After Burrow signed his extension final offseason, the Chiefs did a significant adjustment to Mahomes’ decade-long deal. While the unique contract is technically nonetheless in impact, cash scheduled to be earned after 2027 was moved ahead to pay Mahomes on common $52.7 million for the 2023-27 seasons.

In return for successfully giving out a elevate lower than three years right into a 10-year contract, the Chiefs gained priceless flexibility in how the cash is charged for wage cap functions. While the deal is undoubtedly “team-friendly,” that overused time period shouldn’t be confused with the precise compensation being a monetary discount.

Most who comply with NFL contracts know that the reported common per yr is usually a meaningless quantity, and the true measure lies in assured cash. With the restructure, Mahomes set a file with $210 million assured over a four-year interval.

On first look, Mahomes lags effectively behind his friends in common wage. The obvious travesty, nonetheless, solely exists as a technicality as he can nonetheless anticipate to earn more money than his friends through the course of their seemingly extra profitable contracts.

But Mahomes continues to be signed by means of 2031, proper? The finest reply to that query could be “It’s sophisticated.”

The restructure stored the unique contract in place, that means he technically is signed to the unique size. However, there are two key causes Mahomes’ deal successfully now solely exists by means of 2027.

The face of the league gained robust leverage over the group with cap construction over the approaching seasons. 2025 will start a trio of years when Mahomes is at the moment slated to rely for greater than $60 million of the Chiefs’ wage cap. Kansas City will quickly have to additionally flip their consideration to some proficient younger gamers who’ve helped ship back-to-back championships — comparable to cornerback Trent McDuffie.

At some level — presumably earlier than going through a $66.3 million cost to a single participant in 2025 — Chiefs common supervisor Brett Veach will negotiate a very new contract along with his quarterback. The Chiefs can’t afford to experience Mahomes’ contract as is and proceed fielding a championship-caliber roster.

Even if possession ghoulishly decides Kansas City has had sufficient playoff success and adopts an austerity method to outlive the cap disaster, Mahomes’ present deal has the same shelf life.

The $45 million AAV steadily cited to justify the concept that he’s underpaid relies on a near-impossible situation taking place. In 2027, Mahomes is scheduled to earn $52.9 million in precise cash. 2028 is the primary yr that cash was “borrowed” from to fund the 2023 restructure. In that yr, he’s at the moment scheduled to solely earn $27.2 million in precise compensation.

Does anybody really consider the league’s most recognizable participant — after what’s going to by then have been a decade of all however printing cash for the NFL — goes to simply accept a $25 million pay lower due to a contract that may then be seven years previous?

Mahomes ought to have a brand new record-setting deal lengthy earlier than that may change into a problem. On his subsequent contract, anticipate an unprecedented construction, as his first extension had. Do not be shocked if it covers one other 10-year interval to maximise home windows to restructure massive salaries and to unfold out cap hits.

Expect to listen to the identical group of pundits lament that Mahomes is permitting the Chiefs to underpay him, particularly if he doesn’t hit market-topping thresholds for the imaginary worth that’s AAV.

And know that the longer term Pro Football Hall of Fame choice does loads of charity work, however Kansas City’s entrance workplace isn’t a recipient. The wage particulars could be unconventional for the rest of his profession — however his true earnings will mirror his standing within the sport from right here on.