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Chiefs QB Patrick Mahomes: $503 Million/10 years


MickinMD

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The Chiefs' Quarterback Patrick Mahomes just signed the first ever HALF A BILLION DOLLARS sports player contract!

It's for $503 million with "$477 million in guarantee mechanisms."  The story at NFL.com is here.

I have three concerns.

1) The NFL is so popular that taking one other person to an NFL game has become a financial adventure. Looks like that's going to continue to soar far above the inflation rate.

2) I wonder how many hundreds of dollars per year in increased product prices I'm paying to pay for the advertisements and endorsements with the NFL. That's likely to increase with NFL payroll caps expanding at a rapid rate.

3) The Ravens are said to be in good shape when Lamar Jackson's $2.5 million/year rookie contract runs out in 2022, with supposedly $40 million/year left under the salary cap then.  But Mahomes contract will probably mean Jackson eats up that $40M/yr and the Ravens won't be able to keep their large number of excellent players.

 

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I don't worry about the NFL. 

I would say, though, that I don't think ticket prices are really a huge financial boon (or bust) for teams. I think it is all about the TV rights and licensing deals. 

I also have little or no interest in going to games anymore.  If I am going to a pro game, it is baseball with my nieces which is way more kid friendly, a relaxing event, and relatively inexpensive.

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Attending a football game is an activity for the rich.  Here in Seattle, 300 level tickets are sold for like $300 a game and -- I kid you not -- they charge $80 to park near the stadium.  You don't even want to know what a beer will cost you.  Ok.  I'll tell you.  About $9.

I don't think any sporting event for a family of 4 is worth more than $100.  But spending a $1000?  :lol::lol::lol:

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My Rams are feeling the financial pinch after locking up Goff, Gurley (released but there is a huge cap hit this year) & Donald to huge contracts.  

The difficulty for the Chiefs will be retaining talent once other key role players become free agents.  Their window is due to close in 2-3 years and they will have to rebuild around Mahomes just like my Rams are doing now.

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