10 year contract extension for Mahomes worth $500 million

Diehardblues · Jul 6, 2020

The former Dallas Texans ownership is one of the class families in the league.

jterrell · Jul 6, 2020

Whyjerry said:
I like Dak a lot but he is not Mahomes. Mahomes should be the highest paid player in the league. Premium position. Young. He is one of the best today and projects to get even better.

Dak isn't getting half the Pat deal.
He's not topping 200M in guarantees and he's not hitting 250M total.

The issue is where he falls BELOW PM and we've all known it was likely going to be right at or over Russ. Now with Pat dwarfing all other deals this likely resets market upward for all young starting QBs.

Tannehill got 29.5M for a half season of good play... Dak was always going to get paid well above that.
It's just that now the Cowboys bickering over the 5th year at 45M seems fruitless.
In 5 years that will likely be average starting QB pay.

TheMarathonContinues · Jul 6, 2020

Whyjerry said:
I like Dak a lot but he is not Mahomes. Mahomes should be the highest paid player in the league. Premium position. Young. He is one of the best today and projects to get even better.

I don’t get these type of posts. Are people suggesting Dak is Mahomes?

Sydla · Jul 6, 2020

Adreme said:
No it wouldnt. The mistake you are making is forgetting who the likely source of information is and not taking into account their agenda. There are only two inside sources on contract negotiations between two parties and they are representatives of both parties who both have an agenda. Now that story was very clearly leaked by someone on the Cowboy's side with an agenda. So when you hear it helps to assume that is maybe half true and not all true. As in the number is likely right on what it would cost to get him to a 5th year (after all that is likely what he would want in FA), but dishonest about how he wants it structured.

Again, it's clear Dak wants a 4 year contract so he can hit FA again and get a new signing bonus and more guaranteed money. By asking for $45MM in that last year (paid in cash that year), he's putting Dallas in a lose-lose situation. Either Dallas says that's too rich, gives him a 4 year contract and Dak gets what he wanted all along. Or......... Dallas does that (they wouldn't but for arguments sake let's say they do) and now Dak either gets paid a crap ton of cash in 2024, or Dallas is forced to sign him to an extension to restructure the cap hit that last year (which for all intents and purposes would be like giving Dak a 4 year contract begin with) or Dallas cuts him before they are on the hook for $45MM in the 5th year and Dak gets to hit FA after 4 years, which is what he wants all along.

Dak is basically saying that he'll give the Cowboys that 5th year but it will be very painful for them and very lucrative for himself.

Dallas would never sign him to a contract with that structure because it defeats the purposes of adding that 5th year anyway.

G2 · Jul 6, 2020

khiladi said:
If anything, the Goff extension deal should tell you that the contracts are a mistake and Dak shouldn’t get paid that much. Goff is in Dak mediocrity territory and the sole reason they lost the SB. At least Goff has the excuse of an average rushing attack, especially since Gurley’s injury.

TheMarathonContinues · Jul 6, 2020

jterrell said:
Dak isn't getting half the Pat deal.
He's not topping 200M in guarantees and he's not hitting 250M total.

The issue is where he falls BELOW PM and we've all known it was likely going to be right at or over Russ. Now with Pat dwarfing all other deals this likely resets market upward for all young starting QBs.

Tannehill got 29.5M for a half season of good play... Dak was always going to get paid well above that.
It's just that now the Cowboys bickering over the 5th year at 45M seems fruitless.
In 5 years that will likely be average starting QB pay.

That’s what’s confusing to me. Do the Cowboys not know this or do they just simply not care?

OmerV · Jul 6, 2020

ChuckA1 said:
Respectfully, I don't think anyone anticipated the amount of money in the Mahomes contract. I thought $38-40 million was elite money, and quite frankly, it was until this contract was announced.

If the CAP doesn't increase like recently anticipated, KC could find themselves in CAP trouble big time!

I agree that most people probably weren’t expecting the length and total value, but I think most felt at least $45 million/year was likely, along with significantly higher guarantees than any other player.

And, you are right that $38-40 million/year would have been elite money before this. I don’t think Dak was ever asking for that though.

G2 · Jul 6, 2020

rocyaice said:
I don’t get these type of posts. Are people suggesting Dak is Mahomes?

Not one person, but that's the "go to" point when you don't like Prescott and you want to make your point stick.

DFWJC · Jul 6, 2020

armadillooutlaw said:
Dak's price just went up.
They should have signed him already if they truly believe he's "the guy".

Not so sure about that

Diehardblues · Jul 6, 2020

robjay04 said:
10 years 400 million is pretty team friendly unless it’s all guaranteed which is unlikely...more like half of it.

League sources told ESPN's Adam Schefter that the deal is worth $450 million over the 10-year period, and could be worth up to $503 million. The extension includes a $140 million injury guarantee, as well as a no-trade clause.

https://www.espn.com/nfl/story/_/id/29418825/sources-chiefs-patrick-mahomes-agree-10-year-extension

The Chiefs picked up Mahomes' fifth-year option for the 2021 season in April, putting him under contract for the next two seasons. Mahomes had two years and $27.6 million left on his existing deal -- $2.8 million this year, $24.8 million in 2021. The 10-year extension puts him under contract with the Chiefs for the next 12 seasons.

With a payout of $477.6 million over the next 12 seasons, Mahomes will have the largest contract in American professional sports. Mike Trout had previously held that distinction when he signed a 12-year, $426.5 million contract with the Los Angeles Angels in March 2019. Trout's contract is fully guaranteed, however.

kiheikiwi · Jul 6, 2020

Well, in interviews both Jerry and Stephen have said they did not want to set the precedent.
So now they dont have to ...but guess what, they have drawn this thing out for a year. So now, pay the ---- up.
Dak won't make Mahomes money, but now - He will sign for 5, for a higher rate than he would have taken for 4 years yesterday.

TheMarathonContinues · Jul 6, 2020

khiladi said:
If anything, the Goff extension deal should tell you that the contracts are a mistake and Dak shouldn’t get paid that much. Goff is in Dak mediocrity territory and the sole reason they lost the SB. At least Goff has the excuse of an average rushing attack, especially since Gurley’s injury.

But you are aware that’s not how free agency works right?

Adreme · Jul 6, 2020

Sydla said:
Again, it's clear Dak wants a 4 year contract so he can hit FA again and get a new signing bonus and more guaranteed money. By asking for $45MM in that last year (paid in cash that year), he's putting Dallas in a lose-lose situation. Either Dallas says that's too rich, gives him a 4 year contract and Dak gets what he wanted all along. Or......... Dallas does that (they wouldn't but for arguments sake let's say they do) and now Dak either gets paid a crap ton of cash in 2024, or Dallas is forced to sign him to an extension to restructure the cap hit that last year (which for all intents and purposes would be like giving Dak a 4 year contract begin with) or Dallas cuts him before they are on the hook for $45MM in the 5th year and Dak gets to hit FA after 4 years, which is what he wants all along.

Dak is basically saying that he'll give the Cowboys that 5th year but it will be very painful for them and very lucrative for himself.

Dallas would never sign him to a contract with that structure because it defeats the purposes of adding that 5th year anyway.

By what basis are you saying the 5th year deal would cost 45m in cash that year? I can cite logical precedence and historical ones as well as a common sense basis on why Dak would not want to torpedo his own teams cap situation going into free agency (hint you do not want a bad year before hitting FA), plus the things Dak has said publicly seem to run counter to that notion. So taking all that into account and knowing that there is no rational reason for him to even propose a scenario where he would likely have a worse year in the 5th year before hitting FA why do you seem so sure that it is in cash? Based on what do you believe that this is true?

dogunwo · Jul 6, 2020

Direwolf63 said:
$450M tacked on to the end of his current deal?

Very team friendly. $45M average a year starting in 2022.

Great deal for the Chiefs. Mahomes is VERY rich. He'll make another $300M in endorsements over that time.

How does that refute anything I said?

G2 · Jul 6, 2020

rocyaice said:
But you are aware that’s not how free agency works right?

On Madden or........

DFWJC · Jul 6, 2020

fishspill said:
I wouldn’t be surprised if Dak’s floor is now $40 million per year.

This contract equates to about 12 years 40/yr
Assuming escalating salaries after 2021, that PRESENT VALUE is more like a 5 year deal at 34-35/yr.....or what Dallas is offering Dak.

And Mahomes >>> Dak

ChuckA1 · Jul 6, 2020

So, is a "team friendly" deal of four years at $35 mil with a fifth year option at $40 million within the realm of possibilities?

Diehardblues · Jul 6, 2020

At least we won’t have to worry about Dak being the highest paid QB with a new contract now. Lol

Diehardblues · Jul 6, 2020

Based on the other recent contracts , his ability and production Dak should be in the low 30 million a year range or below 35 million.

Corso · Jul 6, 2020

ABQCOWBOY said:
OK, I'm out of here. Corso, make sure you guys don't start the curtains on fire.

Be well everybody!

Lampshade firmly on my head right about now!

10 year contract extension for Mahomes worth $500 million

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Offseason mode... sleepy time