Patrick Mahomes’ net worth in 2023 has been estimated at approximately $70 million. The Kansas City Chiefs’ star quarterback has achieved significant milestones in his career, securing his second NFL MVP and his second Super Bowl victory, accompanied by his second Super Bowl MVP title, all by the conclusion of the 2022 season.
In just a little over five years, Mahomes has already solidified his place as a future Hall of Famer and one of the greatest quarterbacks in NFL history. In this article, we delve into Patrick Mahomes’ net worth as the 2023 NFL season gets underway.
Patrick Mahomes’ Estimated Net Worth in 2023: $70 Million
Thanks to publicly available information, it has been revealed that Patrick Mahomes’ net worth in 2023 stands at approximately $70 million, as per Celebrity Net Worth. Despite being relatively early in his career, this figure is expected to grow significantly year by year as he continues to achieve success and amass further accolades.
Since assuming the role of the starting quarterback, Kansas City has consistently reached the AFC Championship Game for five consecutive seasons and has appeared in the Super Bowl three times, boasting a 2-1 record, including a Super Bowl 57 victory against the Philadelphia Eagles. This level of consistent success places the Chiefs in dynasty territory.
Patrick Mahomes’ Remarkable Journey
Patrick Mahomes’ path to becoming a two-time NFL MVP and a Super Bowl icon is nothing short of remarkable. Born in Tyler, Texas, in 1995, Mahomes hails from an athletic background; his father, Patrick Mahomes Sr., enjoyed a professional baseball career spanning over a decade. The younger Mahomes also displayed promise in baseball and was even drafted in 2014, but he ultimately chose to pursue a career in football and joined Texas Tech as a quarterback.
While not a highly sought-after recruit when he signed with the Red Raiders, Mahomes rapidly ascended to college stardom and played three seasons in Lubbock. In the 2017 NFL Draft, several teams passed on him early on, but the Kansas City Chiefs traded up with the Buffalo Bills to select him at No. 10. This decision has proven to be a game-changer for Kansas City, as Mahomes has evolved into an all-time great.
Patrick Mahomes’ Contract and Earnings
In 2020, Patrick Mahomes signed a groundbreaking 10-year contract extension worth $450 million. However, with other quarterbacks securing deals with higher annual values, the Chiefs and Mahomes restructured his contract in September 2023. The revised deal encompasses $210.6 million for the years 2023 to 2026, resulting in an average annual value of $52.65 million. It’s important to note that the contract now concludes after 2026.
In 2023, Mahomes ranked 24th on Forbes’ list of highest-paid athletes, boasting total earnings of nearly $60 million. While this figure may not rival the earnings of top athletes like Lionel Messi and LeBron James, Mahomes is expected to ascend in these rankings as his newly restructured extension takes effect and additional endorsement deals come his way.
Mahomes shows no signs of slowing down, and his marketability within the NFL remains strong. Furthermore, his continued success and acquisition of more Lombardi Trophies can only bolster his financial prospects.
Patrick Mahomes’ Lucrative Endorsements
Outside of his football-related income, Patrick Mahomes is a prominent figure in the world of brand endorsements. He has secured lucrative contracts with renowned brands such as Adidas, Oakley, State Farm, EA Sports, Hunts, Head and Shoulders, Proctor & Gamble, as well as local brands and businesses like Community America Credit Union and Airshare, a private jet company.
The exclusivity of such endorsements is a coveted asset that only a select few athletes can attain, and Mahomes has rightfully earned his place among these exclusive ranks.
Mahomes also holds the distinction of being the first NFL player to sign a deal with Oakley, serving as the face of the brand’s Prizm optics line and the “See it in Prizm” campaign, as reported by Yahoo News.
Following the Chiefs’ Super Bowl victory in 2020, an advertising executive projected that Mahomes could earn “as much as $7 million a year in additional endorsement income.” Additionally, Forbes noted that he secured an equity deal with BioSteel Sports Nutrition after winning the Super Bowl in 2020.
Other Income Sources and Ventures
Patrick Mahomes has not limited his financial endeavors to the NFL. He played a pivotal role in the campaign for NFL All Day, Dapper’s NFL NFT platform, serving as the brand ambassador. Furthermore, he is a part of the ownership group for both the men’s and women’s professional soccer teams in Kansas City and holds a stake in MLB’s Royals.
In October 2023, Mahomes, alongside teammate Travis Kelce, announced their involvement in the ownership group for the Alpine F1 Racing Team. Pro golfer Rory McIlroy is also part of this group.
With a growing family alongside his wife Brittany and two children at home, Patrick Mahomes’ future looks exceedingly bright, both on the field and in terms of his potential earnings.
His consistent successes, endorsements, and entrepreneurial ventures indicate that Mahomes is not only thriving in the NFL but also in life as a whole. With his latest achievements, have you found yourself surprised by Patrick Mahomes’ net worth in 2023?