10 year contract extension for Mahomes worth $500 million

fishspill · Jul 6, 2020

The new Monday Night deal will come at end of ‘21 season. New Sunday deal at end of ‘22 season. After those I wouldn’t be surprised if edge-of-top 10 QB money will average $45 million per.

Adreme · Jul 6, 2020

Sydla said:
There are two tweets linked in the first post. The 2nd tweet Schefter clearly says..........."Patrick Mahomes had two years remaining on his contract, and he and the Chiefs are adding on 10 more, making it a new 12-year contract in total."

You don't include the first three years because they had already been earned. Mahomes played those three years under the contract terms. But now with the extension, they very likely MODIFIED the terms of the last two years of his rookie deal (this happened with Wentz and Goff - their extensions carried modifications to the final two years of their rookie deals). So for all intents and purposes, the rookie contracts for Mahomes no longer exists. It's gone. The terms no longer apply. They've been restructured to account for the new 10 year extension (cap hits, etc.)

I am sure they did modify it (specifically regarding the signing bonus as you can only spread that out over 5 years). However, when people talk about this contract, they will not be talking about it as a 12 year contract or a 15 year contract, they will be talking about the 10 year extension and the NEW money he signed for because that is all that matters. Trying to paint it as anything else is not going to work with agents or execs because you will not be able to say "well he TECHNICALLY is only making 40 million on average over the year 12 years" because they are going to laugh at you and say "Be as technical as you want as long as the new money keeps up"

Adreme · Jul 6, 2020

ABQCOWBOY said:
It's not a 10 year, 503 deal. Pull somebody else's leg, may it will play jingle bells.

I am sorry you fell behind the reporting but per Schefter (and Rap but I do not trust him), it is 10 years 477 million with bonuses for winning that can bring it up to 503 million. That is the most recent information on the deal. Sorry for breaking that news to you.

Kingofholland · Jul 6, 2020

Well there goes the idea it could push down the per year avg. for Dam.

Sydla · Jul 6, 2020

88sAndHeartbreak said:
I didnt realize I misquoted you, and for that I apologize. My point is not many starting QBs only make base salary, so why should it matter? Anyways... We are just talking in circles, so I'll let you have fam.

Because that discussion was tied to the media report that Dak went back to the Cowboys and said he'd sign for that 5th year but they would have to pay him $45MM in cash in that 5th year to do it. The only way to pay Dak $45MM in cash would be in base salary in that 5th year (or some combo of base and a roster bonus).

ABQCOWBOY · Jul 6, 2020

Adreme said:
I am sure they did modify it (specifically regarding the signing bonus as you can only spread that out over 5 years). However, when people talk about this contract, they will not be talking about it as a 12 year contract or a 15 year contract, they will be talking about the 10 year extension and the NEW money he signed for because that is all that matters. Trying to paint it as anything else is not going to work with agents or execs because you will not be able to say "well he TECHNICALLY is only making 40 million on average over the year 12 years" because they are going to laugh at you and say "Be as technical as you want as long as the new money keeps up"

Well, your reasoning here hasn't worked thus far on the Dak deal.

Sydla · Jul 6, 2020

Adreme said:
I am sure they did modify it (specifically regarding the signing bonus as you can only spread that out over 5 years). However, when people talk about this contract, they will not be talking about it as a 12 year contract or a 15 year contract, they will be talking about the 10 year extension and the NEW money he signed for because that is all that matters. Trying to paint it as anything else is not going to work with agents or execs because you will not be able to say "well he TECHNICALLY is only making 40 million on average over the year 12 years" because they are going to laugh at you and say "Be as technical as you want as long as the new money keeps up"

What execs? NFL front office execs?

Adreme · Jul 6, 2020

Sydla said:
Because that discussion was tied to the media report that Dak went back to the Cowboys and said he'd sign for that 5th year but they would have to pay him $45MM in cash in that 5th year to do it. The only way to pay Dak $45MM in cash would be in base salary in that 5th year (or some combo of base and a roster bonus).

It would make no rational sense for him to want 45 million ONLY in that year rather than just have that average push it up. Any agent who did that would be fired. Common sense says he would gladly take it as added to the signing bonus to push the average for the years up. I suspect whoever leaked that number did it in that way to try and make it sound worse than it was.

Clove · Jul 6, 2020

** WOW!!!!!!!!!!!!!!!!!!!!!!!! Dak is about to get PAID!!!

ABQCOWBOY · Jul 6, 2020

Adreme said:
I am sorry you fell behind the reporting but per Schefter (and Rap but I do not trust him), it is 10 years 477 million with bonuses for winning that can bring it up to 503 million. That is the most recent information on the deal. Sorry for breaking that news to you.

It's actually 140 mil deal if you want to get technical but either way, it's the finance of it. It's 12 years 477. The new money is 450 with kickers included that are apparently up to another 53 but that's not earned. So you didn't actually break any news. The deal is the deal, you count on the bonus money until it's earned. It's actually only a 3 year deal, looks like.

ClappingCarrot · Jul 6, 2020

Dak_Attack_09 said:
I doubt it and you should change team.. possibly a fake fan.

Adreme · Jul 6, 2020

Sydla said:
Again that's wrong. NFL executives actually care very much about the full length. In other words, the Eagles front office cared very much about the last two years on Wentz's rookie deal. You are confusing what the media is reporting with what NFL people care about. I can almost guarantee you that the Eagles looked at Wentz's deal as a new 6 year contract.

In terms of having him sure, but not in terms of AAV and guarantees. The only way that factors into the equation is in terms of the leverage it gives the team. When negotiating to get more than Wentz or Goff, those two years on the rookie deal mean nothing.

conner01 · Jul 6, 2020

Aviano90 said:
Smart kid. Sign that long term deal before the salary cap reduces.

It actually could next year but I suspect the league would support it staying like it is
Can’t have teams cutting players with a decline in cap
But over time it’s still going up much higher

thunderpimp91 · Jul 6, 2020

Well that escalated quickly

ABQCOWBOY · Jul 6, 2020

Adreme said:
It would make no rational sense for him to want 45 million ONLY in that year rather than just have that average push it up. Any agent who did that would be fired. Common sense says he would gladly take it as added to the signing bonus to push the average for the years up. I suspect whoever leaked that number did it in that way to try and make it sound worse than it was.

You would think but see, the 5th year is not the goal. Seriously, the idea that Dak would sign a long term deal like the one Mahomes just did is not believable to me. He doesn't want to sign anything longer then 4 years. That's why CAA is making it impossible to do a 5th year.

Valkyr · Jul 6, 2020

Hawkeye0202 said:

ABQCOWBOY · Jul 6, 2020

conner01 said:
It actually could next year but I suspect the league would support it staying like it is
Can’t have teams cutting players with a decline in cap
But over time it’s still going up much higher

Over time it will but I see the cap being highly managed over the next two or three years, to be honest.

Adreme · Jul 6, 2020

ABQCOWBOY said:
It's actually 140 mil deal if you want to get technical but either way, it's the finance of it. It's 12 years 477. The new money is 450 with kickers included that are apparently up to another 53 but that's not earned. So you didn't actually break any news. The deal is the deal, you count on the bonus money until it's earned. It's actually only a 3 year deal, looks like.

3 years only if they are going to cut Mahomes (haha no). Its similar to how the Cowboys could have cut Tyron for very little this year.

Meanwhile CBS, Schefter, Rap, PFR (and I can keep going) are ALL saying the EXTENSION is 10 years (note 10 years not 12) worth 477 million with incentives that can push it to 503. Now those incentives are very unlikely to trigger (I think Schefter said there were 2 each year: 1 for winning AFC Championship and 1 for SB), but they exist and the 477 in guarantees is separate from that.

Clove · Jul 6, 2020

Seriously, this couldn't be true.

Sevenup3000 · Jul 6, 2020

Sydla said:
I've said I have no problem given Dak a deal in the realm of what Goff or Wentz got, even a bit more. My sticking point has always been the 4 years. I think he needs to sign the 5 year deal for cap purposes, and give some flexibility to the team to work his contract as need be.

PS - Wentz isn't a FA until 2025, not 2024. Same with Goff. They signed 4 year extensions in 2019 that were tacked onto the back end of their remaining two years on their rookie deals - essentially 6 year contracts. So.... 2019, 2020, 2021, 2022, 2023, 2024............

Then you agree the Cowboys should compensate for that extra year. That extra year is objectively worth $26mm or thereabout. Give Dak Wentz/Goff plus inflation plus $26mm --- over 5 years. Now Goff, Wentz, and Dak can all enter Free Agency at the same time having made the same over their careers.

And yes, Wentz and Goff signed after their 3rd year...they were already locked in to year 4...as they were locked into year 5 (team option...Goff and Wentz didn't have a say in this) and then they gave their teams 4 more years of control...

So that is 9 years of team control prior to hitting Free Agency...

Dak signed a 4 year deal...wants a 4 year extension...so that is 8 years of team control prior to hitting Free Agency as the Cowboys do not have a 5th year team option to compel Dak with.

10 year contract extension for Mahomes worth $500 million

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