After stepping in the NFL world by getting drafted by the Kansas City Chiefs, Patrick Mahomes has witnessed quite a successful career. Except for the 2023 season, which saw him losing his cool in frustration several times, the quarterback’s past few seasons in the league was nothing short of exceptional. Even the NFL GOAT Tom Brady frequently endorses Pat as one of the greatest players in the league.
Beyond revolutionizing the NFL world with his exceptional on-field skills, Mahomes has also reshaped athlete compensation norms. The quarterback’s huge contract figures and lucrative endorsements have set new benchmarks, contributing to his staggering net worth.
What is Patrick Mahomes’ net worth in 2024?
Patrick Mahomes is set to amass a staggering net worth estimated to range between $60 to $70 million in 2024. However, this figure remains tentative as Forbes is yet to disclose its latest Net Worth list.
Beyond his lucrative NFL contract, the Chiefs star is diversifying his income streams through astute investments. His minority ownership in the Kansas City Royals, acquired in July 2020, stands as an example to his business acumen. Besides this, the signal-caller has ventured into investments in MLS Sporting Kansas City and the NWSL’s Kansas City Current.
With an aim to broaden his portfolio across various sports franchises, Pat has recently joined the league of investors in the Alpine F1 Team, alongside his fellow teammate Travis Kelce, Maximum Effort Investments, RedBird Capital Partners and Ryan Reynolds.
Patrick Mahomes’ contract, salary, and endorsements
The Chiefs revamped Patrick Mahomes’ contract by securing his services with a blockbuster $503 million deal back in 2020. This milestone agreement immediately made his way into the annals of sporting history as the receiver of the largest contract in American professional sports.
Continuing to make headlines, the recent restructuring of the two-time MVP’s contract has seen him set to receive a whopping $210.6 million from the 2023 season through to 2026. Under this revised deal, he is guaranteed an eye-watering average annual salary of $52.65 million, which firmly positioned him as one of the highest-paid players in the NFL. However, despite this colossal figure, Pat still trails slightly behind Joe Burrow in terms of annual average salary, with the Cincinnati Bengals’ QB’s commanding an impressive $55 million in AAV.
The signal-caller has skillfully capitalized on his superstar status by amassing a lucrative portfolio of endorsement deals. Head and Shoulders kicked off this trend with an endorsement deal just before the 2019 season, a partnership that has seen him become a regular face in commercials. Post his Super Bowl LIV victory, the veteran further expanded his endorsement empire by securing a deal with BioSteel Sports.
The signal-caller’s discerning taste led him to a collaboration with Oakley, signing on as an ambassador in 2019. Besides these, he has cultivated partnerships with a variety of brands, including Hunt’s Ketchup, Essentia Water, State Farm, DirectTV, Adidas, and Hy-Vee.
