Is Patrick Mahomes the Highest Paid Athlete? Check Out His Net worth

Patrick Mahomes II is a professional quarterback who plays for the Kansas City Chiefs in the National Football League (NFL).

Drafted by the Chiefs in the first round of the 2017 NFL Draft, Mahomes has since become one of the league’s standout talents, known for his dynamic playmaking abilities, arm strength, and improvisational skills on the field.

He achieved early success in his career by winning the NFL Most Valuable Player (MVP) award in 2018 and leading the Chiefs to a victory in Super Bowl LIV, where he was named the Super Bowl MVP.

Patrick Mahomes Net worth

Regarding his financial status, Patrick Mahomes has accumulated significant wealth through his NFL career and various endorsements. As of late October 2023, his net worth is estimated at $70 million.

He earned $29.45 million for the 2022 NFL season. In addition to his earnings from his football career, Mahomes has diversified his investments, including taking stakes in the MLB team Kansas City Royals and the women’s soccer team Kansas City Current. He is also involved with a few sports wellness companies, enriching his portfolio and broadening his income stream.

Patrick Mahomes wearing a light green double breasted suit from BOSS and oakley made sunglasses
Patrick Mahomes wearing a light green double-breasted suit from BOSS and Oakley-made sunglasses (photo credit: Preston Smith)

How much is Patrick Mahomes’ contract with the Kansas City Chiefs worth?

Patrick Mahomes’ contract with the Kansas City Chiefs is worth $450 million. According to www.spotrac.com, this has accumulated for over ten years.

A total breakdown of It includes a $10 million signing bonus, $141.5 million guaranteed, and an average annual salary of $45 million. Additionally, Mahomes recently agreed to a restructured deal that will pay him a record $210.6 million over four years.

Here’s all we know

YearBase SalarySigning BonusAnnual cashTotal Bonuses
2020$825,000$4,521,508$10,926,636($10,926,636)$34,293,381
2021$990,000
$2,000,000
$22,806,905($33,733,541)$23,450,000
2022$1,500,000$2,000,000$29,450,000($63,183,541)$34,293,381
2023$1,325,556$6,114,888$59,350,000($122,533,541)$41,293,381
2024$8,600,000$6,114,888$44,500,000($167,033,541)$41,793,381
2025$16,650,000$4,114,888$50,000,000($217,033,541)

$43,793,381
2026$45,350,000$4,114,888$56,750,000($273,783,541)
$39,450,000
2027$45,800,000
$4,114,888
$52,900,000($326,683,541)
$49,950,000
2028$17,975,000$27,175,000($353,858,541)$31,450,000
2029$8,000,000$34,975,000($388,833,541)
$24,450,000
2030
$30,625,000
$45,525,000($434,358,541)$23,450,000
2031$37,550,000$14,450,000

Endorsement and Deals

since the inception of his rise in Kansas City, Patrick Mahomes has become more affiliated to brands, to him, rising through the ranks was his priority before starring in any commercial.

Today, Mahomes is the face of Hunts Ketchup, Addidas, State Farm Insurance, Biosteel Sport, and Oakley.

Unlike most celebrities, Mahomes endorses products that he directly consumes.

He signed an endorsement deal with Biosteel Sport, and just like that, he receives a stake in the company against the traditional outcome that involves incurring a whooping sum of money. Mahomes has been a long-time customer of Biosteel Sport, using their product for training.

Mahomes had this to say on X

A company that has been a part of my journey from the beginning, I’m excited to officially join the @BioSteelSports team. The best kept secret in sports is only getting better. #TeamBioSteel

https://twitter.com/BleacherReport/status/1075515629640114176

In 2017, Mahomes signed a multi-year endorsement deal with Adidas, one of his favorite shoe brands; presently, he has his own shoe line known as “Showtime”

In 2018, Mahomes signed another endorsement deal with DirecTV and State Farm; he had been the face of the State Farm “Incredible Start” campaign and the “Fantasy Football Kickoff” campaign.

Before the start of the 2019 season, Mahomes signed an endorsement deal with Heads and Shoulders, a shampoo/hair conditioner brand.

In the same year, Mahomes signed to partner with Oakley, a Brand that produces and markets designer sunglasses,

this partnership had been the progeny of his own brand, Mahomes II Signature Series, Designed by himself in 2021 to aesthetically represent his alma mater, Texas Tech.

In 2020, Mahomes endorsed four different companies: Essential Water, Electronic Arts, Hy-vee, and Bose.

While the individual endorsement earning was not revealed, Mahomes incurred a total of 40 million USD across all endorsements, according to speculations.

The Full Weight of His income:
Is He The Highest-paid Athlete in the world?

Although he is wealthy, Patrick Mahomes is not currently the highest-paid athlete in the world.

He has a significant contract—the largest in the NFL, according to a Daily Mail article dated September 24, 2023; he is set to earn “$210m over the next four years”— however, there are still indications that there are larger contracts in sports globally.

Shohei Ohtani, for instance, has agreed to a historic contract described as the richest in sports history, as reported by Bleacher Report. Additionally, Lamar Jackson is mentioned as having signed a contract that makes him the highest-paid player in the NFL as of June 5, 2023, according to Marca.com.

In Forbes’ list of the world’s highest-paid athletes, Patrick Mahomes is included but not at the top position. This points out that while Mahomes’ earnings are exceptionally high and record-setting within certain confines, he does not hold the top spot in terms of global athlete earnings.

Patrick Mahomes Investments Outside Football

Patrick Mahomes has appeared to be a big influence on brands; interestingly, he has grown to see the value of partnership and the end results.

Following the flock of investors backing car racing, Mahomes has invested in F1 team Alpine.

Mahomes also has a 1% stake in football Major League Baseball team Kansas City Royals, a team estimated to be worth at least 1.2 billion USD; he also has a percentage in Whoop, a fitness brand that was estimated to be worth over 3. 6 billion.

His investment however doesn’t entirely end there; Mahomes has put his money on Hyperice; anything for the love of Massage guns and therapy, right?

His chain of investement covers KMO Burgers and whataburger. Blending business and sport, Patrick Mahomes has been able to incur an outstanding figure in worth.

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