Are the Chiefs making a mistake with Patrick Mahomes contract?

The Kansas City Chiefs and Patrick Mahomes have no immediate plans to restructure the QB’s historic contract.

Patrick Mahomes and the Kansas City Chiefs are on top of the NFL world. The reigning Super Bowl champ, now with two rings to his name at 27 years old, Patrick Mahomes could easily demand the biggest contract in league history. But he’s not going to. At least, not right now.

According to Nate Taylor of the Athletic, the Chiefs have no imminent plans to renegotiate Mahomes’ contract. The gunslinger signed a 10-year, $477 million deal in 2020 (with the potential to reach $503 million through incentives).

At the time, the move was made with financial flexibility in mind. The Chiefs want to sustain a contender around Mahomes, and Mahomes understands the value of retaining more than just your star quarterback.

Chiefs: Patrick Mahomes in no rush to be highest-paid player in NFL

Since Mahomes signed the deal, a wave of massive contracts has saturated the QB market. Mahomes’ current deal makes him the seventh-highest paid QB in football, behind names like Deshaun Watson, Russell Wilson, Kyler Murray, and Aaron Rodgers.

That is, of course, absurd. Mahomes is the consensus best quarterback –frankly, player — in the sport. The Chiefs’ superstar isn’t focused on money, though. He’s focused on winning as many Super Bowls as possible. It becomes a lot easier for management to keep Super Bowl pieces around him if he’s not the highest-paid player in the sport.

“I’ve always said I worry about legacy and winning rings more than making money,” Mahomes told the Athletic. “I’ll never do anything that’s going to hurt us from keeping the great players around me.”

The Chiefs will have to make a concrete decision at some point. Mahomes won’t ride out the remainder of his contract untouched with the current trajectory of the market. But credit to Mahomes for offering the Chiefs flexibility, both in terms of timing and structure. With players like Travis Kelce and Chris Jones on board for the long haul, Kansas City is already reaping the benefits of Mahomes’ generosity.

Kansas City will enter the new NFL season as Super Bowl favorites. And probably the season after that, too. Mahomes is the heir apparent to Tom Brady’s prolific dominion over the NFL. There’s something inevitable about Mahomes. Eventually, his contract will probably match that reputation, but for now the Chiefs are keeping it on the back burner. And, if Mahomes is okay with it, why not milk the discount for as long as possible?