xen 1,010,220 Posted July 7, 2020 Share Posted July 7, 2020 49 minutes ago, Biggjliv4 said: How dare I not get on my knees and suck the dick of all things KC and question a half BILLION dollar contract. As I said in point 1, I look forward to seeing the details. Yes you're very special. Calm your tits there bruh. Link to comment Share on other sites More sharing options...
mex 65,581 Posted July 7, 2020 Share Posted July 7, 2020 4 hours ago, reesebobby said: Tonight I'm gonna dress up in my Brittany Matthews outfit and touch myself inappropriately while I do the Tomahawk Chop. make sure you do the chop with the correct hand Link to comment Share on other sites More sharing options...
AFCWEST 1,238 Posted July 7, 2020 Share Posted July 7, 2020 I know this is bound to bring out much negative response from many here. I respect everyones opinion so you will not see me defending mine. Its an opinion. I love Mahomes and so glad he is in kC. So KC is in run it back mode this season. Unfortunately this season will be a complete mess due to the virus. The virus will determine a champion more than the players. Teams have little control. So Im hoping the season is a go and actually plays out. Im hoping Mahomes and CO avoid the virus. Miracles can happen. KC needs to win it this season because once that Mahomes contract kicks in KC will be like the Vermeil Teams. NO money left over for defense. This is a massive over pay. 50 million per year. Wilson gets what 35? Even Seattle has challenges with their roster due to Wisons contract. No doubt Mahomes is awesome. Take away a few weapons and he is less awesome. Hope he stays healthy and the KC braintrust proves me to be WRONG! Link to comment Share on other sites More sharing options...
Biggjliv4 1,292 Posted July 7, 2020 Share Posted July 7, 2020 1 hour ago, xen said: Yes you're very special. Calm your tits there bruh. My bad Mr. Dorsey, I'll keep any contrary opinions to myself in the future. Link to comment Share on other sites More sharing options...
Lamardirts 2,114 Posted July 7, 2020 Share Posted July 7, 2020 26 minutes ago, AFCWEST said: I know this is bound to bring out much negative response from many here. I respect everyones opinion so you will not see me defending mine. Its an opinion. I love Mahomes and so glad he is in kC. So KC is in run it back mode this season. Unfortunately this season will be a complete mess due to the virus. The virus will determine a champion more than the players. Teams have little control. So Im hoping the season is a go and actually plays out. Im hoping Mahomes and CO avoid the virus. Miracles can happen. KC needs to win it this season because once that Mahomes contract kicks in KC will be like the Vermeil Teams. NO money left over for defense. This is a massive over pay. 50 million per year. Wilson gets what 35? Even Seattle has challenges with their roster due to Wisons contract. No doubt Mahomes is awesome. Take away a few weapons and he is less awesome. Hope he stays healthy and the KC braintrust proves me to be WRONG! If we don’t draft well and be shrewd in FA it won’t matter if he gets 35-50. And if you look at it like a 12/477 then it’s actually 39.75 per year. The 503m is with potential incentives like winning the afc championship game and nfl mvp. 40 per seems about right and he’s also a good bit younger than Wilson. You are right it will be harder but I’m sure you’d agree trying it thus way instead of the avg qb with a hopefully superior roster vs potential goat and slightly above avg roster. This draft and the next two will go a long way in determining if we are dynasty potential. oldtimer and AFCWEST 1 1 Link to comment Share on other sites More sharing options...
kkuenn 3,597 Posted July 7, 2020 Share Posted July 7, 2020 30 minutes ago, AFCWEST said: I know this is bound to bring out much negative response from many here. I respect everyones opinion so you will not see me defending mine. Its an opinion. I love Mahomes and so glad he is in kC. So KC is in run it back mode this season. Unfortunately this season will be a complete mess due to the virus. The virus will determine a champion more than the players. Teams have little control. So Im hoping the season is a go and actually plays out. Im hoping Mahomes and CO avoid the virus. Miracles can happen. KC needs to win it this season because once that Mahomes contract kicks in KC will be like the Vermeil Teams. NO money left over for defense. This is a massive over pay. 50 million per year. Wilson gets what 35? Even Seattle has challenges with their roster due to Wisons contract. No doubt Mahomes is awesome. Take away a few weapons and he is less awesome. Hope he stays healthy and the KC braintrust proves me to be WRONG! Look at this previous post. He will have to hit incentives and it is not until much later does the higher salaries come, especially the last 2 years and 2027. Some he will be less than the 35 million and some barely above it. Thing is by then this will probably be great contract. Also the fact we still have flexibility in it all too including having the ability to sign or resign others. AFCWEST 1 Link to comment Share on other sites More sharing options...
jetlord 10,209 Posted July 7, 2020 Share Posted July 7, 2020 52 minutes ago, AFCWEST said: I know this is bound to bring out much negative response from many here. I respect everyones opinion so you will not see me defending mine. Its an opinion. I love Mahomes and so glad he is in kC. So KC is in run it back mode this season. Unfortunately this season will be a complete mess due to the virus. The virus will determine a champion more than the players. Teams have little control. So Im hoping the season is a go and actually plays out. Im hoping Mahomes and CO avoid the virus. Miracles can happen. KC needs to win it this season because once that Mahomes contract kicks in KC will be like the Vermeil Teams. NO money left over for defense. This is a massive over pay. 50 million per year. Wilson gets what 35? Even Seattle has challenges with their roster due to Wisons contract. No doubt Mahomes is awesome. Take away a few weapons and he is less awesome. Hope he stays healthy and the KC braintrust proves me to be WRONG! It's several years before the contract puts the squeeze on the Chiefs. They'll restructure in 2025 or thereabouts. Also the cap will go up with a new TV contract, especially after we get past the virus. As for the bonuses, let's just hope Mahomes gets to ten AFC championship games in the next ten years. Not going to happen. Nor will he win ten MVPs. The league tends to spread those things out. Last point is that Lamar Jackson and Watson will wan't similar pay. All teams will struggle with the cap if they have an elite QB. This is about as good as the Chiefs could expect and I think they'll go with more draft picks and less contract extensions. It worked for NE and Veach has done well so far in the draft and FA. We won't see any more Frank Clark type $100 million contracts, but can win without those. AFCWEST and Lamardirts 2 Link to comment Share on other sites More sharing options...
Balto 723 Posted July 7, 2020 Share Posted July 7, 2020 1 hour ago, kkuenn said: Look at this previous post. He will have to hit incentives and it is not until much later does the higher salaries come, especially the last 2 years and 2027. Some he will be less than the 35 million and some barely above it. Thing is by then this will probably be great contract. Also the fact we still have flexibility in it all too including having the ability to sign or resign others. Guessing 2027 there will be a restructure......$60M cap hit! Ouch Link to comment Share on other sites More sharing options...
Holmes4six! 968 Posted July 7, 2020 Share Posted July 7, 2020 Now time to see what they can do with jones. Link to comment Share on other sites More sharing options...
WichitaZRide 321 Posted July 7, 2020 Share Posted July 7, 2020 If you proposed to me: Chiefs will win the Super Bowl, but your QB will be under contract for the next 12 years at 480-500 million, id take that deal if Ryan Leaf was our QB. Just sayin... Link to comment Share on other sites More sharing options...
sith13 1,746 Posted July 7, 2020 Share Posted July 7, 2020 1 hour ago, Balto said: Guessing 2027 there will be a restructure......$60M cap hit! Ouch Don't know what the future holds in terms of cap space but the contract screams restructure/extension down the line. It'll be very fun to watch other teams struggle extending lamer QBs who all think they deserve something close to Mahomes. Link to comment Share on other sites More sharing options...
robgar 1,046 Posted July 7, 2020 Share Posted July 7, 2020 its all rosster bonus's meaning this is as team friendly as it gets.. 10 million.. he gets iss guarenteed money.. actuall salary remains low.. looks like hhe doesnt hit 35 million for 3 or 4 yearss.. the next few years he iss reltively cheap.. 2027 definetly lookss like a restructure date.. but the great thhing is this one can be restructured, any year.. without detriment.. most in dead money for the entire contract is 10 million... its really a very reasonable deal. AFCWEST 1 Link to comment Share on other sites More sharing options...
xen 1,010,220 Posted July 7, 2020 Share Posted July 7, 2020 8 hours ago, Biggjliv4 said: My bad Mr. Dorsey, I'll keep any contrary opinions to myself in the future. Just saying we all want to see the details. Link to comment Share on other sites More sharing options...
xen 1,010,220 Posted July 7, 2020 Share Posted July 7, 2020 KC Warpaint 1 Link to comment Share on other sites More sharing options...
oldtimer 8,686 Posted July 7, 2020 Share Posted July 7, 2020 its gone viral lol Link to comment Share on other sites More sharing options...
Handswarmer 645 Posted July 7, 2020 Share Posted July 7, 2020 13 hours ago, KC Warpaint said: Texans, Ravens, Cowboys hell every team with a decent QB going to feel the squeeze on this one for many many years to come... Yep, already being talked about in Baltimore is LJ8 for $500 million. But he has to win a SB 1st, although Bradford Stafford Wentz Goff etc, all got crazy money and haven't won yet. What does worry me is that the deal is NOT tied to the Salary Cap as a % Link to comment Share on other sites More sharing options...
dhitter 1,424 Posted July 7, 2020 Share Posted July 7, 2020 I really thought the Chiefs might do a deal tied to a % of the salary cap. Making Mahomes the highest paid player in all of sports....wow! Time to go earn it Pat.😲 Link to comment Share on other sites More sharing options...
kkuenn 3,597 Posted July 7, 2020 Share Posted July 7, 2020 https://www.espn.com/nfl/story/_/id/29419411/is-patrick-mahomes-500-million-contract-actually-team-friendly-answering-eight-questions-chiefs-qb-deal Breaks down points in the contract. xen 1 Link to comment Share on other sites More sharing options...
Handswarmer 645 Posted July 7, 2020 Share Posted July 7, 2020 The preliminary Patrick Mahomes contract details Posted by Mike Florio on July 6, 2020, 8:37 PM EDT The numbers on any given contract don’t become official under the actual contract can be inspected and analyzed. For now, here’s the breakdown of the Patrick Mahomes contract that is making the rounds. It’s a twelve-year deal with a base value of $477.631 million. It averages, at signing, $39.8 million per year. The deal includes a fairly paltry, given the supposed magnitude of the deal, signing bonus of $10 million. The cash breakdown, regardless of guarantees or “guarantee mechanisms” (whatever those are), is as follows: 1. In 2020: $10.825 million. 2. In 2021: $22.8 million (base salary of $990,000, roster bonus of $21.7 million, and workout bonus of $100,000 in 2021). 3. In 2022: $29.45 million (base salary of $1.5 million, roster bonus of $27.4 million, and workout bonus of $550,000 in 2022). 4. In 2023: $40.45 million (base salary of $5.5 million, roster bonus of $34.4 million, and workout bonus of $550,000 in 2023). 5. In 2024: $37.95 million (base salary of $2.5 million, roster bonus of $34.9 million, and workout bonus of $550,000 in 2024). 6. In 2025: $41.95 million (base salary of $2.5 million, roster bonus of $38.9 million, and workout bonus of $550,000 in 2025). 7. In 2026: $41.95 million (base salary of $2.5 million, roster bonus of $38.9 million, and workout bonus of $550,000 in 2026). 8. In 2027: $59.95 million (base salary of $10 million, roster bonus of $49.4 million, and workout bonus of $550,000 in 2027). 9. In 2028: $44.45 million (base salary of $13 million, roster bonus of $30.9 million, and workout bonus of $550,000 in 2028). 9. In 2029: $44.95 million (base salary of $20.5 million, roster bonus of $23.9 million, and workout bonus of $550,000 in 2029). 10. In 2030: $50.45 million (base salary of $27 million, roster bonus of $22.9 million, and workout bonus of $550,000 in 2030). 11. In 2031: $52.45 million (base salary of $38 million, roster bonus of $13.9 million, and workout bonus of $550,000 in 2028). The deal also includes up to $2.5 million in unspecified incentives per year from 2022 through 2031, resulting in another $25 million that can be earned, pushing the maximum possible value of the twelve-year deal to $502.631 million. In the first two years, Mahomes will earn $33.361 million. Through the first three years, Mahomes will earn $63.08 million. Through the first four years, Mahomes will earn $103.53 million. By way of comparison, Titans quarterback Ryan Tannehill will earn $118 million over the next four years — and he won’t be tied to his team for another eight seasons. Given that Mahomes already was due to earn $27.63 million over the next two years, it’s a 10-year, $450 million extension. That’s $45 million per year in new money. While that pushes the market up by $10 million per year, it ties Mahomes to the Chiefs for the next 12 years, and during that time the market likely will catch and surpass the Mahomes numbers. Although it’s easy to say “the Chiefs will take care of him,” they’re not required to do anything than what the current contract requires them to do for the next 12 years. With, per multiple reports, only $63 million fully guaranteed at signing, it’s a pay-as-you-go deal for the Chiefs, who surely will want to keep Mahomes for the next 12 years, especially as the market and salary cap grow and the deal looks more and more like a steal for the Chiefs, if Mahomes keeps playing like he has for his first two years as a starter. It’s a no-lose proposition for the Chiefs, tying Mahomes to the team for a dozen seasons but giving the team flexibility to move on, if for whatever reason Mahomes at some point isn’t the guy he currently is. Bottom line? In his agents’ apparent zeal to claim that they negotiated the first half-billion-dollar deal in league history, plenty of meat was left on the bone. Mahomes didn’t need to commit for a dozen years, and he could have pushed hard for greater protection against inflation of the salary cap and the quarterback market — like a set percentage of the salary cap. If they didn’t want to give him a percentage of the cap, he could have played it out; Mahomes has enough endorsement money and (as the 10th pick in the 2017 draft) will have enough football money to get by, if for some reason he loses his fastball in the next couple of years. Instead, he swapped $27.63 million over the next two years plus the chance to play the year-to-year franchise-tag game for $63 million fully guaranteed at signing, and a one-year-at-a-time arrangement, with the team (not Mahomes) making the one-year-at-a-time decision. As one league source observed, “It’s like he had no leverage.” Again, the deal definitely sets the bar to a level higher than it’s ever been. But the truth is that, if Mahomes keeps playing like he has so far, he’ll be underpaid sooner than later. And if for some reason he slips over the next few years, he’ll be out on his ear without nearly the kind of protection that he should have gotten in returning for committing to the team for a dozen years. Link to comment Share on other sites More sharing options...
dhitter 1,424 Posted July 7, 2020 Share Posted July 7, 2020 Wow ...Florio makes it sound as if Mahomes goes south in a couple of years he'll soon be on a street corner with a cardboard sign saying "Will work for food." I guess $30-$40 million just doesn't go as far as it used to.🙄 AFCWEST, oldtimer and xen 3 Link to comment Share on other sites More sharing options...
robgar 1,046 Posted July 7, 2020 Share Posted July 7, 2020 Sounds like Florio is on the take from some agents. This may be the best mutually benefitting deal i have ever seen. oldtimer 1 Link to comment Share on other sites More sharing options...
Lamardirts 2,114 Posted July 7, 2020 Share Posted July 7, 2020 3 hours ago, dhitter said: Wow ...Florio makes it sound as if Mahomes goes south in a couple of years he'll soon be on a street corner with a cardboard sign saying "Will work for food." I guess $30-$40 million just doesn't go as far as it used to.🙄 I know I thought the same thing.......30-40million won't go far these days.....lol even a pathetic 3% return is 1.2 million a year....... Link to comment Share on other sites More sharing options...
xen 1,010,220 Posted July 7, 2020 Share Posted July 7, 2020 https://overthecap.com/thoughts-on-mahomes-450-million-contract/ \ OVER THE CAP NFL SALARY CAP, PLAYER CONTRACTS, SALARIES, BONUSES AND ANALYSIS Thoughts on Mahomes $450 Million Contract Posted on July 7, 2020 by Jason Fitzgerald So the numbers are in on Patrick Mahomes monster $450 million contract extension thanks to NFL Network’s Tom Pelissero. My initial thought on the contract is that it’s a very good deal for the Chiefs. First of all the length of the contract is 10 new years, tying Mahomes to the Chiefs for 12 years. This length of contract is something that hasn’t been done in basically 20 years mainly because players would prefer multiple bites at contracts. For example if Mahomes had signed a contract that ran for five years at $38 million and followed the career path of Aaron Rodgers he likely would have earned nearly $47M per year over the course of the contract rather than $45 million a year. This contract is essentially two contracts in one. The first five years of the contract will average under $40 million per year ($39.55 million to be exact) which is essentially in line with the current market which has Russell Wilson at $35 million a year as the top player. The next five years of the contract average $50.45 million and kick off with a year in which Mahomes will earn $59.95 million in cash and cap. This is one of the stronger aspects of the contract for Mahomes because it gives him the chance to basically get restructured or find his way to free agency due to the high cap charge. The cash flows up front are light given the magnitude of the contract. I had speculated that if he took a four year contract that Mahomes would earn $80M by the first new year of the contract, $100M by year 2 and $120 million by year 3. Instead his contract will not surpass Wilson in most of the key points. Here are the running cash flows of the top compensated QBs in the NFL. Player Year 0 Year 1 Year 2 Year 3 Year 4 Patrick Mahomes $6,000,000 $35,450,000 $75,900,000 $113,850,000 $155,800,000 Russell Wilson $53,000,000 $71,000,000 $90,000,000 $114,000,000 $140,000,000 Jared Goff $30,000,000 $57,500,000 $83,000,000 $108,000,000 $134,000,064 Aaron Rodgers $39,900,000 $61,000,000 $83,000,000 $108,500,000 $134,000,000 Carson Wentz $29,600,000 $55,000,000 $77,001,000 $102,001,000 $128,001,000 Matt Ryan $33,250,000 $54,750,000 $75,250,000 $98,250,000 $122,000,000 Ryan Tannehill $0 $37,500,000 $62,000,000 $91,000,000 $118,000,000 Mahomes only received a $6.0 million raise over the terms of his existing contract which my be Covid related and/or have to do with the Chiefs cap situation. His cap numbers the next two years are virtually unchanged. The first year new money is dramatically lower than other players in similar situations while he will trail Jared Goff through two years. By the third year he matches Wilson before taking the big turn ahead in the fourth year of the contract. The contract itself has $140 million guaranteed for injury which is a decent guarantee. While it is very low relative to the size of the contract it does represent 70% of the five year value which is in line with the guarantees for most of the others. Mahomes makes up for it with some type of rolling guarantees that kick in at various points of the contract. At the time of writing this I don’t have the particulars but Jason Cole indicated that by March of 2023 $183M in guarantees will have been earned. Based on the cash flow of the contract that means in 2023 the Chiefs will guarantee his 2024 salary and his 2025 $38.9M roster bonus. So for all intents and purposes Mahomes has the first six seasons of the contract guaranteed for about $185 million which is certainly a good thing. Im not sure what the triggers are for the remaining guarantees but they would likely be somewhat important. If for some bizarre reason the market were to crash having an early vesting guarantee would be important. If Mahomes continues to be awesome it doesn’t make a different because he isn’t going to be cut. Tom Brady had similar contract mechanisms in one of his old contracts where his contract would become guaranteed for the next year if on the roster in the final week of a season so perhaps these will be somewhat similar throughout most of the contract other than the 2027 season. If they are just 1st day of the league year guarantees they are basically functionally the same as having a roster bonus and much ado bout nothing. EDIT: Since writing the guarantee structure was reported on and it is very strong for Mahomes. Basically with the exception of the final year of the contract any release of Mahomes would require payment of his entire next years salary. For the most part he is likely virtually guaranteed to earn all but the paragraph 5 of the 2031 season. For the Chiefs there is no out unless they can convince him to agree to a trade. A lot is being made of the roster bonuses in the contract which total more than $337 million but that seems to be something that the Chiefs are leaning toward doing. They did the same with Tyreek Hill last season and it gives teams flexibility to convert salary if needed for cap relief while also giving players assurances early on. So this may be a Kansas City thing moving forward. The Chiefs did get their usual workout bonuses in the contract and there are no per game bonuses which is good for Mahomes since the Chiefs often use them. As I mentioned above look for 2027 which has a near $60M cap charge to be the prime decision year. This is a classic mechanism used by an agent to try to force the issue in some manner on a player. It can open the door to many possibilities for the player, none of which are negative. Another $25 million in incentives are tied to appearing in the Super Bowl and winning the MVP. These start in 2022 and will not be easy to earn. The $503 million number being thrown around is the sum of the $450 million in new money, $27 million in old money and $25 million in incentives. Though the numbers are eye popping my guess is around the league teams will be very receptive of this contract. While contracts have turned to shorter terms this contract runs 10 additional years. That gives a team like the Cowboys a stronger argument for asking Dak Prescott for five years. The just under $40 million per year five year total is right around what most franchises would have expected for Mahomes while the cash flow breakdown is much more team friendly than anyone could have anticipated. . I would expect the $39.5M/5 figure to be a major block on QB salaries moving forward much in the way Aaron Rodgers blocked the market for years with his 2013 extension and the team friendly cash flows could impact offers during the covid timeframe. Most will probably be neutral on the guarantee structure though I think some teams would be more than happy to guarantee five years if it means 10 years of cost certainty The question as to whether or not this is a good contract for Mahomes will likely boil down to what you would expect the market to do in five years as well as health. From an injury perspective Mahomes is protected like nobody in history. Though those type of injuries are rare they can certainly happen and he is covered for that. As for the market he is probably undercutting himself. A five year extension would have run 7 years from now. Here are a few notable contracts signed at the turn of the last decade and where top market players were just 7 years later. Player APY High APY +7 Change % Increase Eli Manning (2009) $16,250,000 $22,500,000 $6,250,000 38.5% Tom Brady (2010) $18,000,000 $24,594,000 $6,594,000 36.6% Drew Brees (2012) $20,000,000 $33,500,000 $13,500,000 67.5% Aaron Rodgers (2013) $22,500,000 $35,000,000 $12,500,000 55.6% In every scenario the expected growth would average more than he will earn in the base value of this contract. In general QB salaries are not slowing down- Matt Ryan was the highest paid player at $30M in 2018 and that jumped $5 million in just a year. All eyes now will be on Deshaun Watson and Lamar Jackson if Jackson duplicates his MVP season. The Texans likely already shot themselves in the foot with the Tunsil extension when it comes to Watson. If I were the Texans or the Ravens next year I would look at these up front numbers and try to jump on a contract that runs along that Wilson deal in return for added years. If those teams can convince those players to do something like this these long contracts might become the norm again in the NFL. If they don’t then this will just be a one off outlier contract that will have some saying Mahomes is a even more of a bargain 5 or 6 years from now. POST NAVIGATION ← Patrick Mahomes Signs 10 Year Contract Extension Link to comment Share on other sites More sharing options...
Posted on July 7, 2020 by Jason Fitzgerald So the numbers are in on Patrick Mahomes monster $450 million contract extension thanks to NFL Network’s Tom Pelissero. My initial thought on the contract is that it’s a very good deal for the Chiefs. First of all the length of the contract is 10 new years, tying Mahomes to the Chiefs for 12 years. This length of contract is something that hasn’t been done in basically 20 years mainly because players would prefer multiple bites at contracts. For example if Mahomes had signed a contract that ran for five years at $38 million and followed the career path of Aaron Rodgers he likely would have earned nearly $47M per year over the course of the contract rather than $45 million a year. This contract is essentially two contracts in one. The first five years of the contract will average under $40 million per year ($39.55 million to be exact) which is essentially in line with the current market which has Russell Wilson at $35 million a year as the top player. The next five years of the contract average $50.45 million and kick off with a year in which Mahomes will earn $59.95 million in cash and cap. This is one of the stronger aspects of the contract for Mahomes because it gives him the chance to basically get restructured or find his way to free agency due to the high cap charge. The cash flows up front are light given the magnitude of the contract. I had speculated that if he took a four year contract that Mahomes would earn $80M by the first new year of the contract, $100M by year 2 and $120 million by year 3. Instead his contract will not surpass Wilson in most of the key points. Here are the running cash flows of the top compensated QBs in the NFL. Player Year 0 Year 1 Year 2 Year 3 Year 4 Patrick Mahomes $6,000,000 $35,450,000 $75,900,000 $113,850,000 $155,800,000 Russell Wilson $53,000,000 $71,000,000 $90,000,000 $114,000,000 $140,000,000 Jared Goff $30,000,000 $57,500,000 $83,000,000 $108,000,000 $134,000,064 Aaron Rodgers $39,900,000 $61,000,000 $83,000,000 $108,500,000 $134,000,000 Carson Wentz $29,600,000 $55,000,000 $77,001,000 $102,001,000 $128,001,000 Matt Ryan $33,250,000 $54,750,000 $75,250,000 $98,250,000 $122,000,000 Ryan Tannehill $0 $37,500,000 $62,000,000 $91,000,000 $118,000,000 Mahomes only received a $6.0 million raise over the terms of his existing contract which my be Covid related and/or have to do with the Chiefs cap situation. His cap numbers the next two years are virtually unchanged. The first year new money is dramatically lower than other players in similar situations while he will trail Jared Goff through two years. By the third year he matches Wilson before taking the big turn ahead in the fourth year of the contract. The contract itself has $140 million guaranteed for injury which is a decent guarantee. While it is very low relative to the size of the contract it does represent 70% of the five year value which is in line with the guarantees for most of the others. Mahomes makes up for it with some type of rolling guarantees that kick in at various points of the contract. At the time of writing this I don’t have the particulars but Jason Cole indicated that by March of 2023 $183M in guarantees will have been earned. Based on the cash flow of the contract that means in 2023 the Chiefs will guarantee his 2024 salary and his 2025 $38.9M roster bonus. So for all intents and purposes Mahomes has the first six seasons of the contract guaranteed for about $185 million which is certainly a good thing. Im not sure what the triggers are for the remaining guarantees but they would likely be somewhat important. If for some bizarre reason the market were to crash having an early vesting guarantee would be important. If Mahomes continues to be awesome it doesn’t make a different because he isn’t going to be cut. Tom Brady had similar contract mechanisms in one of his old contracts where his contract would become guaranteed for the next year if on the roster in the final week of a season so perhaps these will be somewhat similar throughout most of the contract other than the 2027 season. If they are just 1st day of the league year guarantees they are basically functionally the same as having a roster bonus and much ado bout nothing. EDIT: Since writing the guarantee structure was reported on and it is very strong for Mahomes. Basically with the exception of the final year of the contract any release of Mahomes would require payment of his entire next years salary. For the most part he is likely virtually guaranteed to earn all but the paragraph 5 of the 2031 season. For the Chiefs there is no out unless they can convince him to agree to a trade. A lot is being made of the roster bonuses in the contract which total more than $337 million but that seems to be something that the Chiefs are leaning toward doing. They did the same with Tyreek Hill last season and it gives teams flexibility to convert salary if needed for cap relief while also giving players assurances early on. So this may be a Kansas City thing moving forward. The Chiefs did get their usual workout bonuses in the contract and there are no per game bonuses which is good for Mahomes since the Chiefs often use them. As I mentioned above look for 2027 which has a near $60M cap charge to be the prime decision year. This is a classic mechanism used by an agent to try to force the issue in some manner on a player. It can open the door to many possibilities for the player, none of which are negative. Another $25 million in incentives are tied to appearing in the Super Bowl and winning the MVP. These start in 2022 and will not be easy to earn. The $503 million number being thrown around is the sum of the $450 million in new money, $27 million in old money and $25 million in incentives. Though the numbers are eye popping my guess is around the league teams will be very receptive of this contract. While contracts have turned to shorter terms this contract runs 10 additional years. That gives a team like the Cowboys a stronger argument for asking Dak Prescott for five years. The just under $40 million per year five year total is right around what most franchises would have expected for Mahomes while the cash flow breakdown is much more team friendly than anyone could have anticipated. . I would expect the $39.5M/5 figure to be a major block on QB salaries moving forward much in the way Aaron Rodgers blocked the market for years with his 2013 extension and the team friendly cash flows could impact offers during the covid timeframe. Most will probably be neutral on the guarantee structure though I think some teams would be more than happy to guarantee five years if it means 10 years of cost certainty The question as to whether or not this is a good contract for Mahomes will likely boil down to what you would expect the market to do in five years as well as health. From an injury perspective Mahomes is protected like nobody in history. Though those type of injuries are rare they can certainly happen and he is covered for that. As for the market he is probably undercutting himself. A five year extension would have run 7 years from now. Here are a few notable contracts signed at the turn of the last decade and where top market players were just 7 years later. Player APY High APY +7 Change % Increase Eli Manning (2009) $16,250,000 $22,500,000 $6,250,000 38.5% Tom Brady (2010) $18,000,000 $24,594,000 $6,594,000 36.6% Drew Brees (2012) $20,000,000 $33,500,000 $13,500,000 67.5% Aaron Rodgers (2013) $22,500,000 $35,000,000 $12,500,000 55.6% In every scenario the expected growth would average more than he will earn in the base value of this contract. In general QB salaries are not slowing down- Matt Ryan was the highest paid player at $30M in 2018 and that jumped $5 million in just a year. All eyes now will be on Deshaun Watson and Lamar Jackson if Jackson duplicates his MVP season. The Texans likely already shot themselves in the foot with the Tunsil extension when it comes to Watson. If I were the Texans or the Ravens next year I would look at these up front numbers and try to jump on a contract that runs along that Wilson deal in return for added years. If those teams can convince those players to do something like this these long contracts might become the norm again in the NFL. If they don’t then this will just be a one off outlier contract that will have some saying Mahomes is a even more of a bargain 5 or 6 years from now.
xen 1,010,220 Posted July 7, 2020 Share Posted July 7, 2020 https://www.si.com/nfl/2020/07/06/patrick-mahomes-extension-gigantic-hilarious-american Patrick Mahomes's 10-Year Extension is Gigantic, Hilarious, American and Great Mahomes is not likely to actually play out the whole contract extension he signed Monday. So enjoy the numbers and bask in the joyful absurdity of the moment. CONOR ORR 19 HOURS AGO We’re going to hear a lot of moaning and groaning from very serious online people in the coming days about how Super Bowl MVP Patrick Mahomes’s historic 10-year, up-to-$503 million contract extension should have been tied to the salary cap or somehow anchored to the performance of DOW futures. And that this deal was irresponsible, and doesn’t move the needle, and actually needed to be structured in a way that hammered the Chiefs at every conceivable turn in order to maximize Mahomes’s historical leverage. Steve Mitchell-USA TODAY Sports We’ll respond with two bullet points: 1. There is no chance Mahomes actually plays out the additional 10 years on his deal, so none of this really matters anyway. The extension reportedly includes $477 million in guarantee mechanisms, a phrase we are all excited to learn more about, but announcing the terms of the Mahomes deal is like telling customers at Olive Garden that the soup, salad and breadsticks are unlimited. We all know there is a mountainous level of legalese (never mind the constraints of the human stomach) that would put an end to this whole charade before we ever sniff the outer reaches of limited. If someone is able to dig this column up from our massive internet trash heap in a decade and I’m proven wrong, I’ll grill and eat the laptop I used to type this sentence. 2. Who cares if it’s stupid?! Gigantic, absurdly-long contracts are hilarious and irresponsible and perfectly American. And in this godforsaken time, we need all of the plain old silliness we can get. As a reminder, the last quarterback to sign a deal of this magnitude was … Daunte Culpepper. That was back in May 2003. He was in Oakland by 2007. He retired a Sacramento Mountain Lion by 2013. History serves as a reminder for us not to take anything that seriously. We love ridiculous, 10-year contract extensions because of their ultimate hollowness and faux-epicness. It’s akin to tattooing the name of your high school sweetheart on your forearm or eloping with that (generationally talented) lounge singer you met on the cruise ship because if you waited a minute longer the world wouldn’t know how much you really cared. Have you ever looked back on an old draft telecast or episode of Hard Knocks and watched as these football people project the future of the NFL with the confidence of a professor who has a doctorate in an extremely niche field that has somehow become relevant? This is a league that is not even certain how it's going to conduct training camp. This is a sport that stylistically changes in significant ways once every half decade. This is a society that cannot even fathom what is coming down the pike tomorrow. But yes, take comfort that Mahomes will most certainly be in Missouri a decade from now. The uber-contract is a wonderful middle finger to the ridiculous level of efficiency with which agents and teams have learned to tango. Most contracts are so yawn-inducingly easy to predict, with everyone fighting over the shavings of a dime as it relates to injury guarantees in a season that we cannot even say with any degree of certainty will exist. And then comes a player that gets a team and a fan base so ridiculously excited that they blow the whole thing up for the hell of it. Then, the delicate tango in which all of the agents and teams began to operate this offseason is for naught. Have fun Cowboys and Dak Prescott; the ceiling has changed. So, here’s to Mahomes and the Chiefs. There is nothing quite like a honeymoon of this magnitude. We appreciate the passion and the chaos. But let’s all try and take it one day at a time. Link to comment Share on other sites More sharing options...
Patrick Mahomes's 10-Year Extension is Gigantic, Hilarious, American and Great Mahomes is not likely to actually play out the whole contract extension he signed Monday. So enjoy the numbers and bask in the joyful absurdity of the moment. CONOR ORR 19 HOURS AGO We’re going to hear a lot of moaning and groaning from very serious online people in the coming days about how Super Bowl MVP Patrick Mahomes’s historic 10-year, up-to-$503 million contract extension should have been tied to the salary cap or somehow anchored to the performance of DOW futures. And that this deal was irresponsible, and doesn’t move the needle, and actually needed to be structured in a way that hammered the Chiefs at every conceivable turn in order to maximize Mahomes’s historical leverage.
Calichief 3,016 Posted July 7, 2020 Share Posted July 7, 2020 This is our qb. this interview was great. Major chip on his shoulder. Link to comment Share on other sites More sharing options...
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