The sports industry today is a multi-billion dollar billion business. And Patrick Mahomes, the reigning NFL MVP athlete who plays for the Kansas City Chiefs, has smashed the already existing record.
Before we get into that, you first have to understand how athletes earn in this day and age.
For one, the players are paid to be part of a major team, and this role is not easily acquired. Their skillset must be up to par so that they earn a spot in the team.
As the athlete plays for this team, as in the case of American football, they get paid per game and touchdown or any other constraints of the sport. In Patrick’s case, he gets paid on all.
Secondly, athletes today get paid by being brand Ambassadors of huge brands. These brands are not solely sports brands, but they pan from humanitarian to business brands, all of which are willing to pay top dollar for a famous player to wear and advertise for them.
How Patrick’s earnings are making history?
Throughout the NFL, Mahomes’ new signed deal is quite lengthy as compared to the past deals. His contract runs for a ten-year period, where he will be getting a 450 million dollar contract extension.
This deal is to commence in the year 2022, and the player will be earning a total of at least $45 million per annum, and after the ten years, he will have secured a total of 503 million dollars, if everything goes to plan.
Mahomes, with this new deal, could potentially be the highest-paid athlete in the history of sports. And this is because as additional $25.5 million is tied up in incentives, and an estimated $541.9 million are potential career earings for the ten-year extension period.
This sounds like a lot of money. But this is not new in the sports industry as other players have earned more or less hefty payments. Just take a look at the following.
LeBron James, a Los Angeles Lakers basketball player, has made at least $306.9 million throughout his 17-year career.
MLB first baseman, Albert Pujols, has had a successful career earning him an astounding $309.2 million over 21 active seasons before his retirement.
NFL’s own Eli Manning, the quarterback who played for the New York Giants, earned $252.3 million over his 16-year career.
In tennis, Novak Djokovic, who played for 17 seasons, has had a successful and well-paying career that amounted to $143.6 million.
The NHL’s Sidney Crosby earned $128.3 million throughout 15 seasons. And lastly, the golfer Tiger Woods has bagged 120.7 million dollars over a 24-season period.
And now comes Patrick Maholmes with something similar yet greater.
How some NFL players have earned
In the NFL, Mitchel Tribisky, cost the Chicago Bears a $24.63 million paycheck. In that amount, he gets paid $8.2 million per season, $601k per game, and $513k per touchdown.
Patrick Mahomes, before this signing, he has bagged $13.72 million in total. Per season he has been earning $443k and $181k per touchdown.
Comparing Manning to Mahomes
Both players are exceptional, but putting it down on paper puts a lot into perspective.
Manning’s total career earnings to date stand at a 16-season long career with a total of $252.3million.
Mahomes has just been playing for three seasons, yet he has secured $13.7 million. Taking the time duration into consideration, Mahomes is by far ahead of Manning, although manning has experience.
Per season, Manning earns $15.8 million while Mahomes bags $4.6 million. Per game Manning and Mahomes get $1.1 million and $443k, respectively. Mannings gets paid $2.2 million per win, and Mahomes gets $572k. Per throw, the cash earnings stand at Manning $31k and Mahomes $12k. And lastly, every touchdown earns Manning an additional $689 and Mahomes $181k.
These numbers reflect that Manning takes the lead as of today. But judging from the other end of things, ten years later, Mahomes would be higher than Manning.
The only condition to Mahomes’ success is that he keeps playing for the Kansas City Chiefs for the ten-year duration.
At only 24, Patrick Mahomes is in for a very promising NFL career if he keeps delivering wins for the Kansas City Chiefs.