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Patrick Mahomes might be the seventh highest-paid quarterback by average yearly value by the end of the 2023 NFL offseason. Mahomes might fall outside of the top 10 by the end of the 2024 offseason.
It would be ludicrous given Mahomes' caliber as a quarterback and what he has achieved and may continue to accomplish over his career. But, given the situation of the quarterback market and the terms of his 10-year, $450 million contract deal with the Kansas City Chiefs inked in 2020, it is feasible.
As Yahoo Sports' Charles Robinson noted earlier this month, the impending contract extensions for Lamar Jackson of the Baltimore Ravens, Jalen Hurts of the Philadelphia Eagles, Joe Burrow of the Cincinnati Bengals, and Justin Herbert of the Los Angeles Chargers could push Mahomes down the QB rankings if some of them sign deals worth more than $46 million per year. Trevor Lawrence of the Jacksonville Jaguars is also available for a contract extension after next season, and who knows what the Miami Dolphins will pay Tua Tagovailoa.
Since becoming a full-time starter in 2018, Mahomes has been far and beyond the top quarterback, ranking first among 60 qualifying quarterbacks in projected points added per play and success rate. During that time, Mahomes has more throwing yards than Tom Brady, more passing touchdowns than Aaron Rodgers, and is tied for the most yards per completion with, ironically, Jimmy Garoppolo.
This season, Mahomes had a 0.056 EPA/play advantage over the next-best passer, Hurts, which is nearly as large as the difference between Hurts and Tennessee's Ryan Tannehill. According to Pro Football Focus, Mahomes also has the most Wins Above Replacement of any quarterback this season.
Mahomes’ deal allowed Chiefs to spend and draft wisely
Save for Tyreek Hill, whom the Chiefs traded away for a bounty of draft picks, Kansas City locked down its players before Mahomes’ deal takes a bigger chunk of the Chiefs' salary cap. Tight end Travis Kelce and defensive tackle Chris Jones were the big ones as both re-signed in the same month Mahomes got his big extension, five months after the Chiefs won the Super Bowl against the San Francisco 49ers. Both played a tremendous role in the Chiefs’ trip back to the title game this season and Kelce ranks second all time in postseason touchdown receptions.
To fill in the rest of the gaps, the Chiefs signed or traded for impactful players at reasonable rates. Running back Jerick McKinnon joined K.C. in 2021 and finished second on the team with 10 touchdowns in 2022. Receivers JuJu Smith-Schuster and Marques Valdes-Scantling signed short-term deals worth just $8.7 million combined in 2022, per overthecap.com. Kansas City traded for oft-injured but supremely talented former first-round receiver Kadarius Toney as well, who is still on his rookie deal. Those three combined for seven touchdowns during the regular season and 24 receptions for 261 yards and three touchdowns in the playoffs.
Chiefs lucky to have Mahomes on a bargain
This doesn’t debunk the rookie quarterback contract theory. Yahoo Sports’ Henry Bushnell and Jeff Eisenberg did that in 2021. But what the Chiefs have done with Mahomes is a rudimentary blueprint for how other teams with talented quarterbacks should try to navigate a contract extension.
There are also alternatives. The Eagles just played in their second Super Bowl since the 2017 season with a different quarterback on a rookie deal. They reinvented themselves thanks to savvy roster building by general manager Howie Roseman and cutting bait on Carson Wentz soon after realizing he wasn't worth his extension. The Los Angeles Rams and Tampa Bay Buccaneers more or less bought their Super Bowl rings, with potential long-term ramifications.
But it’s an inescapable fact that the Chiefs are in the position they’re in because of how they’ve built a roster around a quarterback who is at the top of his game but not paid as such. Mahomes is good enough to be worth as much as whoever sits at the top of the QB market. And unlike Brady, Mahomes signed a long-term deal rather than shorter ones that secured his financial future — at least until 2025, when all the guaranteed money is gone — and gave the Chiefs flexibility to win as many Super Bowls as possible.
Daniel Weinman was crowned winner of the 2023 World Series of Poker (WSOP) Main Event on Monday, taking home a record breaking $12.1 million in winnings. Weinman had to outlast the other 10,043 entrants to take home the prize and get his hands on his share of live poker’s largest ever prize pool – a staggering $93,399,900. As well as taking home the prize money, 35-year-old Weinman also got his hands on the WSOP Main Event bracelet. The huge bracelet contains 500 grams of 10-karat yellow gold, as well as 2,352 various precious gemstones.
Daniel Weinman won the World Series of Poker's main event world championship on Monday in Las Vegas, earning $12.1 million along the way. Playing in the tournament for a 16th year, Weinman was tops in a deep pool of 10,043 players vying for $93.39 million. His victory came after just 164 hands at the final table. "I was honestly on the fence about even coming back and playing this tournament," the 35-year-old Atlanta native told reporters afterward. Weinman's final table featured Jan-Peter Jachtmann, who landed in fourth place and took home $3 million, as well as Toby Lewis, who finished seventh and secured $1.42 million. According to the Las Vegas Review-Journal, the main event's entry pool far outpaced the previous record of 8,773 set in 2006. "I've always kind of felt that poker was kind of going in a dying direction, but to see the numbers at the World Series this year has been incredible," Weinman said. "And to win this main event, it doesn't feel real. I mean, [there's] so much luck in a poker tournament. I thought I played very well." Steven Jones finished second, securing $6.5 million. And Adam Walton settled for third and a $4 million prize.
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