Chiefs GM discusses possible change for Patrick Mahomes’ contract. Inflation has hit the NFL. Not in a bad way, necessarily.
As new quarterbacks in the league are on their way to new deals with their respective teams, Patrick Mahomes could have a restructured contract to follow suit.
Kansas City Chiefs general manager Brett Veach said with the market being the way it is, there are some tasks at hand for the organization.
“But I think that this organization and the relationship we have with Pat will always be working to make sure that we’re doing right by everybody,” Veach said in a press conference on Friday. “There will be a couple more contracts that still have to get done — [Joe] Burrow and [Justin] Herbert — and once they do, I think you kind of look at everything and assess where you are and what you can do and take it from there.”
In 2020, Mahomes signed a 10-year, $503 million contract extension making him a mainstay with the team. That’s an annual average value of $45 million (including the final two years of his then-existing rookie contract). Not bad.
However, with the Philadelphia Eagles signing quarterback Jalen Hurts to a five-year, $255 million deal, the AAV set for him is at $51 million. Those figures haven’t escaped Veach.
“We have a special relationship with [Mahomes] and his agent. We’re in constant communication,” Veach said during his Thursday pre-draft press conference. “It’s one of those things — and I think coach [Andy Reid] hinted on this in his last press conference — where as soon as one guy gets done, it’s kind of the blueprint and the model. And a few years later, it’s jumped and exceeded.”
"What attracts players and agents here is Coach and Quarterback and I think Arrowhead stadium and I think the great fans that we have"
Brett Veach talked to @SorenPetro about why players choose to play for the Chiefs pic.twitter.com/jkqtIfGGos
— ESPN Wichita 92.3 (@ESPNWichita) April 20, 2023
Reid also spoke on it saying at the beginning, it was a team-friendly deal for the Chiefs. There must have been talks about adjustments as time went on. A contract in one season is not comparable to one in another year.
The five-time Pro Bowl selectio earned two Super Bowl rings and MVP selections in the same breath. Last season, he had a league-high 5,250 yards, 41 touchdowns and averaged 308.8 yards per game. He also earned a 77.6 QB rating.
While no new deal has been put in place yet, pay attention to the salaries of big-name quarterbacks in the near future. They’re just adding to what Mahomes already has earned.