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cmh6476

Mahomes signs 10 yr extension

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A chief through 2032 :banana:

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Good move based on his age.  The last 5 years, he'll likely be a huge bargain.  If I had to guess, I'm going to go with the AAV is $40M, so $400M deal with $240M guaranteed.

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I don't think it'll be all that much over $400... I'll put the ceiling at $425, I'll go with $410M.  The longer the deal, the lesser the "market value" on AAV.  They get the more upfront/guaranteed money in lieu of the higher ceiling.

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Mahomes resets the market for QBs, like we knew he would.

He's the highest paid player and he should be

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2 hours ago, polecatt said:

Mahomes resets the market for QBs, like we knew he would.

He's the highest paid player and he should be

Their idea was right, their execution was wrong.  I wouldn't have gone with anything higher than 7 years. 

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$450 million. If you made $50 an hour and worked 40 hour weeks for the last 4,000 years (that's 2,000 years before Christ, and 2,000 years after Christ), you would still need to work another 327 years before you could retire with the lifetime earnings equal to just this one contract (not counting anything Mahomes made before). Oh wait, it's 2020, so you get 20 more years of credit; you only have to work 307 more years before you can retire.

Unless he meets the incentives to make that other $53 million, in which case you'll have to put in another 510 years.

Sorry.

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45 minutes ago, TBayXXXVII said:

Their idea was right, their execution was wrong.  I wouldn't have gone with anything higher than 7 years. 

They have him for the next 12 seasons 🤣

That's a lot for the NFL, even a QB, but if there were one player that I had to sign like that, it would be him

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Staggering guaranteed money here. Absolute insanity going on and good luck to the other teams now when their QB wants to get paid.

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1 minute ago, tanatastic said:

Staggering guaranteed money here. Absolute insanity going on and good luck to the other teams now when their QB wants to get paid.

For real!

Dak Prescott is happy about this

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How many more rings does he win by the time this deal is up?

I say 2 more, 3 if he's lucky

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20 minutes ago, polecatt said:

They have him for the next 12 seasons 🤣

That's a lot for the NFL, even a QB, but if there were one player that I had to sign like that, it would be him

Not in the NFL.  I'd never give any player more than 7 years.

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I'm not a capologist but this reads more like a deal that's going to be redone by 2027. I think it's disingenuous to say he's getting $477 million guaranteed.

 

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Mahomes will make $5,137 per hour for the next ten years.  Not just when he's working... Every. Single. Hour. for the next ten years.  Eating, sleeping, having sex, whatever...  over $5 grand an hour.

Yep, that's over $123,000 a day...

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Parenthetically, I have always enjoyed this little comparision when grasping large numbers.

One million seconds is just under 12 days.

One billion seconds is just over 31 years.

  • Like 1

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Imagine what Dak is thinking right now. His price just went up like 150mil. It’s gonna be funny when Jerry laughs. Mahomes was MVP and won the Super Bowl, I wish they would start setting a precedent that you only get a mega deal when you do something noteworthy. But they won’t and guys like Stafford and Carr will keep cashing in.

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So .. I guess that Franchised KC Defense End won't be getting paid, hunh?  Besides Dak - how about HOU QB?  He's up for a new contract, too.

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Watson, yeah he's due for a big payday too

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People forgetting Lamar here in this convo, someone who has actually done something relevent. An MVP and Playoffs is not a SB but it’s more than these other guys who think they are next in line have done. 

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Turns out only $200 million is guaranteed cash money.

The rest is payable in Whataburger credits.

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11 hours ago, Bills04 said:

So .. I guess that Franchised KC Defense End won't be getting paid, hunh?  Besides Dak - how about HOU QB?  He's up for a new contract, too.

maybe, maybe not.  But Chris Jones is a DT not a DE.  But Mahomes is going to be paid on his rookie deal the next two years so who knows.

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12 hours ago, tanatastic said:

People forgetting Lamar here in this convo, someone who has actually done something relevent. An MVP and Playoffs is not a SB but it’s more than these other guys who think they are next in line have done. 

Personally, I wouldn't offer Jackson a new deal, at all.  I'd draft his replacement in after the 2021 season.  Let Jackson play out that that 5th year and let him walk.  At this point in time, his production is tied to his legs.  They'll never last.  I'll take the gamble.

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13 hours ago, Mike FF Today said:

I'm not a capologist but this reads more like a deal that's going to be redone by 2027. I think it's disingenuous to say he's getting $477 million guaranteed.

 

That looks to me like that's only $10M in guaranteed money.  No?  I mean, if  $337M is in a roster bonus, none of that is guaranteed.  Neither is the base salary.  Right?  He's only getting paid if he's on the team.

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Mahomes wanted to sign a team-friendly deal to stay in KC for the duration of his career.  This seems like a start in that direction IMO.

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12 minutes ago, cmh6476 said:

Mahomes wanted to sign a team-friendly deal to stay in KC for the duration of his career.  This seems like a start in that direction IMO.

There is such a thing as a team friendly deal that includes guaranteed money.  I'm sure there's more info to come out, but looking at that spreadsheet, Mahomes signed a 10 year deal that will only guarantee him $10M.

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Still a complete waste of money...

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10 hours ago, posty said:

Still a complete waste of money...

He's not. He will make the team more than that

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6 hours ago, Frozenbeernuts said:

He's not. He will make the team more than that

No, "HE", won't.  I think you're grossly over rating how much impact 1 player has on the teams finances.  So much of the revenue that each team makes is shared.  There isn't much that the teams keep for themselves.

  • Teams share the TV deal.  So, whether Pat Mahomes or Alex Smith is the QB of the Chiefs, they're still getting 1-32nd of the pie.
  • Teams share ticket sales.  Each team keeps only 60% of the gate.  The Chiefs were selling out with Alex Smith, now Pat Mahomes, and will if their QB is someone else.
  • Teams share merchandise sales.  When fans buy a jersey, that money goes to the NFL, regardless of who buys it and where.  That money gets split at seasons end and the teams get 1-32nd of the pie.  So, whether Alex Smith or Pat Mahomes, or Frozenbeernuts is the QB in KC, the league-wide merchandise pot isn't going to really fluctuate.

These 3 things represent the substantial components of the money NFL teams make.

 

That said, I do agree with you that it's not a waste of money.  The deal is very team friendly in that he's under paid based on his performance and none of the money looks guaranteed, save $10M.

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46 minutes ago, TBayXXXVII said:

No, "HE", won't.  I think you're grossly over rating how much impact 1 player has on the teams finances.  So much of the revenue that each team makes is shared.  There isn't much that the teams keep for themselves.

  • Teams share the TV deal.  So, whether Pat Mahomes or Alex Smith is the QB of the Chiefs, they're still getting 1-32nd of the pie.
  • Teams share ticket sales.  Each team keeps only 60% of the gate.  The Chiefs were selling out with Alex Smith, now Pat Mahomes, and will if their QB is someone else.
  • Teams share merchandise sales.  When fans buy a jersey, that money goes to the NFL, regardless of who buys it and where.  That money gets split at seasons end and the teams get 1-32nd of the pie.  So, whether Alex Smith or Pat Mahomes, or Frozenbeernuts is the QB in KC, the league-wide merchandise pot isn't going to really fluctuate.

These 3 things represent the substantial components of the money NFL teams make.

 

That said, I do agree with you that it's not a waste of money.  The deal is very team friendly in that he's under paid based on his performance and none of the money looks guaranteed, save $10M.

Well, there is the fact that he's won more playoff games than probably any other Chiefs QB already so the team makes more from that.  Although I'm being a bit facetious and if what you're saying is true (no reason to doubt it and not worth researching) seems to make sense.

 

;)

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Wouldn’t he have signed for like a ton less than that while still being the top paid player? I feel like they came in wanting to be the highest paid player and they made him the highest plus a ton extra. Who negotiated this? “Hey highest paid is 30 we want 40.” Chiefs are like “50! Done!”.

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1 hour ago, tanatastic said:

Wouldn’t he have signed for like a ton less than that while still being the top paid player? I feel like they came in wanting to be the highest paid player and they made him the highest plus a ton extra. Who negotiated this? “Hey highest paid is 30 we want 40.” Chiefs are like “50! Done!”.

I don't know about that.

  • In 2021: Mahomes = $22.8M, 7 other QB's make more.
  • In 2022: Mahomes = $29.45M, Kirk Cousins will make more... possibly Dak too
  • In 2023, Mahomes = $40.45M - he'll be the highest paid QB, but only 11 other QB's have a contract.
  • In 2024, Mahomes = $37.95M - he'll be the highest paid QB, but only Wentz and Goff have contracts.

If he gets every penny, he may only be the highest paid QB only once or twice between 2021 and 2027.  My guess also, is that they'll be a restructure, as @Mike FF Today mentioned, at some point around then as well.

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On 7/7/2020 at 10:54 AM, TBayXXXVII said:

There is such a thing as a team friendly deal that includes guaranteed money.  I'm sure there's more info to come out, but looking at that spreadsheet, Mahomes signed a 10 year deal that will only guarantee him $10M.

More details have come out about the contract. Pelissero tweeted: Patrick Mahomes gets over $63 million fully guaranteed at signing and $103M by next March. Most of the salaries and bonuses vest a year or two before they’re due.

The vesting of the salaries and bonuses a year or two early is what is unique to Mahomes' contract. It gives the player more security, makes it more difficult for the Chiefs to cut him without taking a big cap hit in not only one year, but probably two years. The more you dig into this contract is seems like a pretty good deal for both sides. 

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1 minute ago, Mike FF Today said:

More details have come out about the contract. Pelissero tweeted: Patrick Mahomes gets over $63 million fully guaranteed at signing and $103M by next March. Most of the salaries and bonuses vest a year or two before they’re due.

The vesting of the salaries and bonuses a year or two early is what is unique to Mahomes' contract. It gives the player more security, makes it more difficult for the Chiefs to cut him without taking big acap hit in not only one year, but probably two years. The more you dig into this contract is seems like a pretty good deal for both sides. 

Ok, yeah, that makes a lot more sense.  Thanks for the update.  I found it very hard to believe that only $10M was guaranteed.

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1 hour ago, TBayXXXVII said:

I don't know about that.

  • In 2021: Mahomes = $22.8M, 7 other QB's make more.
  • In 2022: Mahomes = $29.45M, Kirk Cousins will make more... possibly Dak too
  • In 2023, Mahomes = $40.45M - he'll be the highest paid QB, but only 11 other QB's have a contract.
  • In 2024, Mahomes = $37.95M - he'll be the highest paid QB, but only Wentz and Goff have contracts.

If he gets every penny, he may only be the highest paid QB only once or twice between 2021 and 2027.  My guess also, is that they'll be a restructure, as @Mike FF Today mentioned, at some point around then as well.

Fine. Even still, that agent did an MVP job with this. Making history with this deal.

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well, hes making a hell of a lot of cash.  perhaps more than any person has right to earn.

I do hope hes worth it for KC

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