Mahomes’ endorsement earnings make up the majority of his total income
Patrick Mahomes signed a 10-year, $450 million contract extension with the Kansas City Chiefs in 2021, the largest in NFL history at the time. He’s now just the seventh highest-paid quarterback in the league, with several players surpassing his average annual salary of $45 million.
Mahomes, 27, is coming off a Super Bowl victory, yet the quarterback he defeated, Philadelphia Eagles’ Jalen Hurts, is now earning $51 million per season. Baltimore Ravens QB Lamar Jackson will earn $52 million after finally agreeing to a contract extension.
While it might seem surprising that a player of Mahomes’ caliber would already be slipping down the salary rankings, it’s important to note that the NFL salary cap is a constantly moving target.
Despite this, Mahomes is still making bank. He earned an estimated $40 million in endorsements in 2021 alone, thanks to deals with brands like Adidas, Oakley, and State Farm, according to Forbes.
In fact, his endorsement earnings make up the majority of his total income, with his base salary from the Chiefs being just a fraction of what he earns from off-the-field ventures. But Mahomes’ financial success isn’t just due to his football career and endorsement deals.
#Chiefs QB Patrick Mahomes is now only the 7th highest paid QB in the NFL.
And this is before expected contract extensions for QBs such as #Bengals Joe Burrow and #Chargers Justin Herbert. (@spotrac) pic.twitter.com/PbOYJuQHaq
— Dov Kleiman (@NFL_DovKleiman) May 7, 2023
Patrick Mahomes, the investorMahomes is a savvy investor, with stakes in companies like Whoop, a fitness wearable, and Zenefits, a human resources software company. In 2020, he also joined the ownership group of the Kansas City Royals, further diversifying his portfolio.
He is currently one of the wealthiest active professional football players, but still has a long way to go before catching up to some of the all-time greats.
Peyton Manning, for example, has a net worth estimated at $250 million, thanks to his football career and various business ventures.
Aaron Rodgers, meanwhile, is worth $120 million and will likely continue to get richer while living in New York.
Source: Marca.com
