Patrick Mahomes may feel underpaid by the Chiefs seeing the record money to be made by Allen

When Patrick Mahomes signed his groundbreaking 10-year, $450 million contract with the Kansas City Chiefs in 2020, it was seen as a paradigm-shifting moment in NFL history. The deal made him the highest-paid player in league history at the time, a reflection of his extraordinary talent and the Chiefs' commitment to building around their superstar quarterback.

The contract was designed to ensure Mahomes remained in Kansas City for the long haul while also providing the team with long-term roster-building flexibility.

However, as the NFL's financial landscape has evolved, Mahomes' contract, once considered untouchable, no longer ranks among the highest in terms of average annual value or guaranteed earnings.

The league's booming revenue, combined with new quarterback deals, has reshaped what is considered a market-setting contract, raising questions about how Mahomes' deal compares and whether a restructure could be on the horizon.

Allen's deal

While Mahomes' total contract value remains unparalleled, recent quarterback contracts have introduced more advantageous financial structures. A prime example is Josh Allen's six-year, $330 million extension with the Buffalo Bills.

Allen's deal, though lower in total value, offers significantly more in guarantees, with $100 million guaranteed at signing and a record-setting $250 million in total guarantees. This provides Allen with both financial security and leverage for future renegotiations.

Mahomes, on the other hand, received $63 million guaranteed at signing, with a total of $141 million in guarantees. The contrast highlights a key difference: Mahomes' contract prioritizes long-term security and team-friendly structuring, while Allen's deal focuses on maximizing immediate financial benefit and future renegotiation opportunities.

This has led some to question whether Mahomes' contract, though lucrative, is now outdated compared to the evolving quarterback market.

Despite the shifting financial landscape, the Chiefs' front office had a clear strategy in structuring Mahomes' contract. By spreading payments over a decade, Kansas City ensured that Mahomes' cap hit remained manageable, allowing the team to retain key players, sign essential free agents, and maintain long-term competitiveness.

This approach has undoubtedly contributed to the Chiefs' sustained success, with Mahomes leading them to multiple Super Bowl appearances and victories since signing the deal.