Patrick Mahomes has seen plenty of items on his cell phone device in recent days about quarterbacks from other teams making more and more and more money. Because the media has generally accepted new-money annual average as the universal currency for ranking player pay, it looks like Mahomes is woefully underpaid.
The three-time Super Bowl winner, whose worst outcome in any of his six seasons as a starter is losing in overtime of the AFC Championship, has a new-money APY of $45 million. Three quarterbacks (Joe Burrow, Trevor Lawrence, Jordan Love) are at $55 million. Five others (Tua Tagovailoa, Jared Goff, Justin Herbert, Lamar Jackson, Jalen Hurts) are north of $50 million.
But there are other ways to look at these contracts. One way is to focus on the cash to be paid in the coming years.
And from 2023-26, as well as 2024-27, one player still leads the way in four-year cash flow. It’s Mahomes.
Here’s the four-year cash flow from 2023 through 2026, per a source with access to the numbers:
1. Mahomes: $210.6 million.
2. Lamar Jackson: $208 million.
3. Deshaun Watson: $184 million.
4. Joe Burrow: $181 million.
5. Daniel Jones:: $160 million.
6. Justin Herbert: $157 million.
7. Jalen Hurts: $157 million.
8. Kyler Murray: $153 million.
9. Josh Allen: $136 million.
10. Matthew Stafford: $121.5 million.
With recent deals included, here’s the four-year cash flow from 2024 through 2027:
1. Mahomes: $215.6 million.
2. Burrow: $213.9 million.
3. Jared Goff: $193.6 million.
4. Tua Tagovailoa: $186.1 million.
5. Jordan Love: $186 million.
6. Hurts: $184 million.
7. Herbert: $182.6 million.
8. Kirk Cousins: $180 million.
9. Jackson: $179.2 million.
10. Trevor Lawrence: $155.5 million.
Of course, that doesn’t mean the player will cash every check. Jones, for example, has little chance of making the $160 million he was due to earn from 2023 through 2026. Ditto for Cousins and his $180 million in Atlanta.
It’s still a factor. An important one. Along with other important factors, like signing bonus, full guarantee at signing, practical guarantee at signing, and the number of years until the team can activate an escape hatch from the rest of the deal.
For some reason, the media at large only ever looks at new-money APY.
Yes, Mahomes still lags on that factor. But he was due to make more than anyone from 2023 through 2026. And he’s due to make more than anyone from 2024 through 2027.
And that’s still a bargain for the Chiefs and for the NFL.
Last month, we took a look at the candidates to be the first player to reach $60 million per year in new-money average.
This week, three names exited the list.
Matthew Stafford, Tua Tagovailoa, and Jordan Love resolved their contract issues. The highest-paid of the trio — Love — fell $5 million short.
So who’s next to get paid, and will he become The Six Million Dollar Man, times ten?
The most obvious candidate continues to be Cowboys quarterback Dak Prescott. The Cowboys have no way of keeping him from the open market in 2025. Prescott has no qualms about holding firm for what he wants. The question remains whether Jerry Jones, who constantly praises Prescott when the audience consists of those who would buy tickets to games, has to decide whether to put his money where his mouth is, when it comes to the player.
49ers quarterback Brock Purdy becomes eligible for a new contract after the 2024 regular season ends. While he could get to $55.1 million (leapfrogging a three-year tie at $55 million), $60 million will be a bridge too far — even if he wins a Super Bowl this year.
Texans quarterback C.J. Stroud is two seasons away from eligibility for a new deal. Given that none of this year’s new deals have beaten the high-water mark set by Bengals quarterback Joe Burrow last year, it very well could be that no one will get to $60 million before Stroud signs his second deal.
Then we have the guys who have already gotten paid who might be closing in on another bite at the apple — Chiefs quarterback Patrick Mahomes, Bills quarterback Josh Allen, Ravens quarterback Lamar Jackson. Mahomes, at $45 million per year, received a bump in his cash flow last year. He’ll likely get another before he signs a new contract, given that it runs into the next decade. Allen, as previously mentioned, is due to get paid again.
And Jackson, who should have had his second contract two years earlier than he got it, might be thinking about accelerating the timetable for his third, especially since the two-time league MVP has now seen six quarterbacks jump his $52 million per year. And, between them, Chargers quarterback Justin Herbert ($52.5 million), Lions quarterback Jared Goff ($53 million), Dolphins quarterback Tua Tagovailoa ($53.1 million), and Burrow, Jaguars quarterback Trevor Lawrence, and Packers quarterback Jordan Love ($55 million), have zero NFL MVP wins.
So who’s next? And who gets to $60 million first? Prescott or Purdy will be next. Prescott or Stroud are likely to get to $60 million — unless Mahomes, Allen, or Jackson successfully force the issue.
Just a few years ago, Trevor Lawrence and Mac Jones were first-round picks in the 2021 draft.
But now the two quarterbacks are teammates with the Jaguars, as Mac Jones’ hometown team traded for him in the spring to be Lawrence’s backup.
Jones, 25, had a rough 2022 and 2023 with New England but is feeling good as Jacksonville gets training camp going.
“The whole change of scenery definitely helped,” Jones told Jeff Howe of TheAthletic.com earlier this week. “I’m just having fun playing football. I’m at my best when I’m keeping it loose, letting it rip and having that gunslinger mindset that I maybe had lost a little bit of. But I got it back here, and you’ve just got to be consistent with it. It’s good days, bad days and everything in between.”
Jones can also relate to Lawrence in that head coach Doug Pederson may be the best thing for him to help further his career. Where Lawrence got Pederson’s coaching after a disastrous rookie year in 2021, Jones gets it now after the last going through a tumultuous last two seasons.
“We’ve both been through a lot in our own ways,” Jones said. “[Lawrence] has done a good job getting back on his feet, obviously, with the contract, taking them to the playoffs [in 2022] and playing really good football.
“I think it just shows you football is a game of ebbs and flows. At some point, it’s going to come your way if you just keep working for it. I know that’ll happen.”
Last season, Jones compiled a 2-9 record as a starter, completing 65 percent of his passes for 2,120 yards with 10 touchdowns and 12 interceptions.
The Jaguars announced that they will be wearing throwback uniforms for a game this season last week and they unveiled another alternate uniform choice on Thursday.
The team revealed “Shell White” helmets that they will wear for their Week 10 game against the Vikings. Head equipment manager George Pellicer said the team looked at a variety of options for an alternate helmet before settling on one that broke with tradition.
“My favorite element is that it is something completely different than anything we have ever worn,” Pellicer said. “The Jacksonville Jaguars have always worn some form of black helmets so, this will be a creative twist that we have not done yet. Plus, it will be fun to see the fan’s reactions.”
Pellicer said the team plans to continue wearing the helmets beyond the 2024 season, but the number of times they’ll be broken out will be determined in the future.
Quarterback Trevor Lawrence isn’t the only Jaguars player to cash in. The Jags have given cornerback Tyson Campbell a four-year extension.
It’s reportedly a four-year, $76.5 million deal.
As we know, that’s just the beginning. Here are the full details, per a source with knowledge of the deal.
1. Signing bonus: $16 million.
2. 2024 base salary: $1.5 million, fully guaranteed.
3. 2024 per-game roster bonus: $500,000 total.
4. 2025 option bonus: $12.4 million, fully guaranteed.
5. 2025 offseason workout bonus: $500,000.
6. 2025 base salary: $1.5 million, fully guaranteed.
7. 2025 per-game roster bonus: $500,000 total.
8. 2026 option bonus: $11.5 million, guaranteed for injury at signing and fully guaranteed in 2025.
9. 2026 offseason workout bonus: $500,000.
10. 2026 base salary: $16.16 million, guaranteed for injury at signing and fully guaranteed in 2025.
11. 2026 per-game roster bonus: $500,000 total.
12. 2027 offseason workout bonus: $500,000.
13. 2027 base salary: $15 million, $8.884 million of which is guaranteed for injury at signing and fully guaranteed in 2026.
14. 2027 per-game roster bonus: $500,000 total.
15. 2028 offseason 90-man roster bonus: $1 million.
16. 2028 offseason workout bonus: $500,000.
17. 2028 base salary: $14.5 million.
18. 2028 per-game roster bonus: $500,000 total.
The contract also has a Pro Bowl incentive of $175,000 from 2025 through 2028.
The new-money annual average is $19.125 million. The total value from signing is $15.9 million.
The deal has $31.4 million fully guaranteed at signing. By 2025, $44.516 million is fully guaranteed. By 2026, the number moves to $53.4 million. That’s the practical guarantee — unless they cut him after two years and pay him $44.516 million.
The contract basically covers, and exceeds, a pair of franchise tags, even though Campbell has one year left on his rookie deal.
