Patrick Mahomes once again lit the world on fire with his contract extension. Two players who will benefit are Deshaun Watson and Dak Prescott.
NFL teams have put a hold on inking lucrative contracts due to the uncertainty revolving around COVID-19. The Kansas City Chiefs were the first team to break that silence as they have reached a long-term agreement with star quarterback Patrick Mahomes.
According to ESPN’s Adam Schefter, Kansas City reached a 10-year contract extension with Mahomes that will keep him in a Chiefs uniform through the 2031 season. With two years remaining on his rookie contract, the former 2017 tenth overall pick is now under contract for the next 12 seasons.
It’s wildly unheard of in the NFL to sign a player to a ten-year contract. The total value sitting above $400 million over the next twelve years shows that it’s more about longevity for both sides than the average salary. Of course, that could change down the road if the cap continues to shoot upward, and Mahomes wants to restructure.
The next highest contracts in terms of total value are Matt Ryan ($150 million), Russell Wilson ($140 million), and Jimmy Garoppolo (137.5 million). In terms of average salary, Russell Wilson was the highest-paid quarterback sitting at $35 million. It’s to no surprise that Mahomes would be at or above an average wage of $40 million.
What does this mean for quarterbacks like Deshaun Watson and Dak Prescott?
The name of the game when it comes to contracts is being the highest-paid player at your position at the time of signing. Deshaun Watson and Dak Prescott still have that opportunity. Whether it be by most guaranteed money over the life of the contract, highest yearly average, or if another team is willing to throw down $500 million.
There’s no question that the Houston Texans and Dallas Cowboys are going to point at what Patrick Mahomes has accomplished in his two full seasons as the starting quarterback. Winning NFL MVP in 2018 while throwing for over 5,000 yards and 50 touchdowns, and winning a Super Bowl MVP in 2019. Neither Prescott nor Watson can compare to those achievements.
While neither quarterback will likely touch Mahomes’ new extension, the bar has still been raised for the quarterback market. Whether a quarterback is wanting to bet on himself by signing a shorter contract to leave room for a third contract while still in his prime, or a quarterback wants a long-term deal that will secure him for many years, this contract has raised the floor.