The Chiefs have been preparing for Patrick Mahomes’ next contract for 3 years, and it’s going to be unlike anything the NFL has ever seen

  • Patrick Mahomes is eligible for a contract extension after the season, and it could be historic.
  • ESPN’s Adam Schefter previously reported that Mahomes could become the first NFL player to sign a $200 million deal.
  • Mahomes had a record-breaking first two seasons as a starter, led the Chiefs to the Super Bowl, and been anointed the best player in football by his own GM.
  • Visit Business Insider’s homepage for more stories.

Win or lose in the Super Bowl, Patrick Mahomes could cash in this offseason.

Though Mahomes has two years remaining on his rookie deal, he is eligible for an extension this offseason and will get one, according to The Ringer’s Kevin Clark.

That extension is set to break NFL records and reshape the quarterback market.

ESPN’s Adam Schefter reported in January that many expect the Chiefs to extend Mahomes this offseason, with some expecting Mahomes to become the first player to sign a $200 million contract.

The Chiefs have known it was coming. Chiefs GM Brett Veach told Clark at the beginning of the season that the Chiefs have been preparing for Mahomes’ next deal since 2017.

“We were already doing the deal assuming Pat would be an elite-level quarterback. We were already doing our contracts to fit a potentially big contract,” Veach told Clark. “When he was a rookie, as a backup, we were already doing our structures to fit. That’s how much we believed in Patrick.”

Veach added: “I think Pat will get what he deserves because guys like that do.”

That was in August. Mahomes didn’t top his 2018 season – when he threw for over 5,000 yards, 50 touchdowns, and won MVP – in the 2019 regular season, but he did lead the Chiefs to the Super Bowl with elite play. Over two playoff games, Mahomes accounted for 721 total yards and 9 touchdowns, with no interceptions, leading the Chiefs back from double-digit deficits in both games.

After the AFC Championship, Veach called Mahomes the best player in the NFL.

“He’s the best player in the game,” Veach said (via Cody Tapp of 610 Sports KC). “It’s not just me saying that, it’s the whole league. He’s the best player in the game.”

Mahomes will pass the highest-paid quarterbacks

As Clark noted during the AFC Championship, inferior quarterbacks are making a lot of money.

NFL contracts can be broken down in several ways. According to Spotrac, Matt Ryan leads all quarterbacks in total value, with $150 million. He also leads all quarterbacks with $94.5 million in total guarantees.

Kirk Cousins signed the first fully guaranteed deal with the Minnesota Vikings in 2018: three years, $84 million.

Aaron Rodgers got a record $79.5 million guaranteed at signing.

Russell Wilson’s average salary of $35 million leads all quarterbacks.

Mahomes’ first two years as a starter out-paces what those players have done. Per Football-Reference, Mahomes and Deshaun Watson are the only two players in NFL history to throw for over 9,000 passing yards and over 70 touchdowns in fewer than 40 starts. Mahomes leads Watson in completion percentage, touchdowns, interceptions, and passer rating, and he’s done it in fewer games.

Winning a Super Bowl would only boost Mahomes’ resume.

So, what could his next deal look like? Is it possible Mahomes eclipses $200 million total, $100 million in guarantees, and over $40 million in average salary? That seems like a safe bet.

Only the Chiefs know, but it doesn’t sound like the cost of keeping the best player in the league will catch them off-guard.