Mahomes remains one of the great discounts among NFL stars, earning just $2.7 million in cash in 2019 while playing on his rookie contract. Any discount on Mahomes’ services will disappear following the 2021 NFL season, when the fifth-year option on his rookie contract expires. The Chiefs star is widely expected to sign a deal worth $200 million, or $40 million per year – an unprecedented sum in NFL history.
"I've said before that I hope Patrick is here for his entire career and that’s going to be our goal," Chiefs owner Clark Hunt said during Super Bowl media week. "But there will be a right time, sometime in the next 12-15 months to extend Patrick and when I say right time, I mean right time for both, the player and the club. I don't want to say it has to necessarily be this offseason but I will say it’s a priority to get it done."
In 2017 Patrick Mahomes signed a 4 year, $16,425,786 contract with the Kansas City Chiefs, including a $10,086,026 signing bonus, $16,425,786 guaranteed, and an average annual salary of $4,106,447.