Patrick Mahomes’ net worth shouldn’t come as a surprise given that he’s one of the most successful quarterbacks of our time. He’s a three-time Super Bowl winner with his latest coming in 2024 after the Kansas City Chiefs defeated the San Francisco 49ers.
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Mahomes is one of the Kansas City Chief’s most highly-paid players and also earns more from sponsorship deals and endorsements. In this article, we break down the numbers and reveal his net worth.
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Patrick Mahomes’ Net Worth
As of 2024, Celebrity Net Worth reports that Mahomes is worth $70 million. Football is his primary source of income and then earns extra from brand deals and his businesses. Let’s dive into his NFL salary and contract to determine how much it contributes to his enormous net worth.
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Patrick Mahomes’ NFL Contract
The quarterback first joined the Kansas City Chiefs in 2017 from Texas tech College. As a first-round draft pick, he signed a four-year contract worth $16.4 million guaranteed and received a $10.1 million signing bonus. The team had an option to extend it by a year, as is the structure of a rookie contract.
Before the deal lapsed, Mahomes won the Super Bowl in 2019 and the following year, landed a contract extension. The Chiefs offered him a 10-year deal worth $450 million of which $477 million was guaranteed, which means he could opt out without losing money. This was already one of the largest contracts in sports history.
Three years in, Mahomes restructured his deal. The result was a payout of $206 million over four years, between 2023 and 2026, which is an annual salary of over $50 million. Among other things, he’s getting bonuses which add to his earning potential.
In 2023, Forbes listed Patrick Mahomes’ as the 24th highest-paid athlete, with an annual earnings of $59.3 million.
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Endorsement Deals
His on-field success has attracted several brands including:
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Additionally, Mahomes has managed to secure exclusive deals that make him the face of brands like Oakley. He’s the first NFL player to land such a deal.
According to Forbes, the quarterback made about $20 million in sponsorship deals alone in 2023, so that gives us an estimate of how much he cashes in.
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Business Ventures
Patrick Mahomes’s is also letting his money work for him by making several investments. He’s put his money into sports and also ventures outside his profession.
He recently bought a stake into the F1 Alpine team, and is one of the owners of the Kansas City Royals Group, Sporting Kansas City in the MLS and the MLB.
Outside of sports, Mahomes has invested in a food joint, Whataburger, Hyperice, an athletics wear company among others.
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Real Estate
With the kind of net worth Patrick Mahomes has built, he can afford the best houses, cars and anything luxurious. Celebrity Net Worth states that he spent $1.9 million for a house in Kansas City and then sold it for $3 million.
He further spent $3.4 million for another house in Dallas and a further $400,000 to live in a gated community in Kansas.
Patrick Mahomes’ doesn’t show any signs of slowing down which means he’ll keep adding to his net worth. More trophies and individual accolades mean well for his image and brand so who knows, maybe by the time he retires, Patrick Mahomes’ net worth might shoot beyond the $1 billion mark.
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