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Mahomes gets 10 year extension


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#21 Mackus

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Posted 06 July 2020 - 06:50 PM


Not from the Ravens. I would be shocked if DeCosta, from the school of Ozzie, spent that kind of money on any one position. Even an MVP QB.

Prepare to be shocked :)

They will pay absolutely whatever it takes to secure Lamar. Unless something dramatic happens to change projections of his future between now and next off-season. I'm not sure he tops Mahomes, but it'll be similar and the Ravens will do it.

#22 Ricker Says

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Posted 06 July 2020 - 07:14 PM

Should they?

I love Lamar, but how can you win with that much cap going to one player? You also can't win without a QB, so I'm genuinely asking.
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#23 Mackus

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Posted 06 July 2020 - 07:18 PM

Yes, they should.

If you have an MVP caliber QB you can win even if they're eating up 20% or more of your cap. I think it's much easier to win that way than to have no QB and limitless capspace. Finding a decent QB is difficult. Finding a top-5 QB is a once-in-a generation type thing for most franchises. You literally cannot overpay such a player. Only way it hurts you is through regression or injury, but it's worth that risk without hesitation.

#24 SportsGuy

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Posted 06 July 2020 - 07:31 PM

Should they?

I love Lamar, but how can you win with that much cap going to one player? You also can't win without a QB, so I'm genuinely asking.


You can win paying a QB that if they are elite.

Do I think Lamar will be in elite 7 years from now? No I don’t.

Do I think Mahomes will? Yes I do.

That’s where I have the issue with paying Lamar anything close to this.

I can’t see going more than 5 years for Lamar.
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#25 TwentyThirtyFive

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Posted 06 July 2020 - 07:56 PM

Prepare to be shocked :)

They will pay absolutely whatever it takes to secure Lamar. Unless something dramatic happens to change projections of his future between now and next off-season. I'm not sure he tops Mahomes, but it'll be similar and the Ravens will do it.

Spot on. As much as we know what happens when QBs get huge contracts, we have to do it.

#26 TwentyThirtyFive

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Posted 06 July 2020 - 07:58 PM

Im not sure exactly when Rodgers got paid but he continued to lead winning teams. As has Wilson so far. What can't be denied is that their overall roster talent isn't what it was when they weren't making huge dollars.

#27 TwentyThirtyFive

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Posted 06 July 2020 - 08:00 PM

You can win paying a QB that if they are elite.

Do I think Lamar will be in elite 7 years from now? No I don’t.

Do I think Mahomes will? Yes I do.

That’s where I have the issue with paying Lamar anything close to this.

I can’t see going more than 5 years for Lamar.

It's fair to wonder how well Lamar will transition to being a more traditional QB. I think he'll still be good but its a fair question when you're looking to pay him past his 25 or 26 yr old season.

#28 BSLMikeRandall

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Posted 06 July 2020 - 08:09 PM

Maybe early from over the cap. Listed as $480.1M. They have $63M in guaranteed money, maybe $65M or so? Chiefs can get out with no dead money after 2024. Until 2024, he stands to earn $146M-ish in game checks, and if the signing bonus/guarantees is what it says, $65M-ish... 5 Years/$211M essentially?

Probably have to wait for some more details.

https://overthecap.c...k-mahomes/5594/
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#29 SportsGuy

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Posted 06 July 2020 - 09:00 PM

It's fair to wonder how well Lamar will transition to being a more traditional QB. I think he'll still be good but its a fair question when you're looking to pay him past his 25 or 26 yr old season.


And, to be clear, I’m saying I would look into a 5 year extension..which means, if he is signed next offseason, that is a 7 year commitment to him.

#30 Mackus

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Posted 06 July 2020 - 09:15 PM


And, to be clear, I’m saying I would look into a 5 year extension..which means, if he is signed next offseason, that is a 7 year commitment to him.

Why would Lamar sign that though? Unless if you're talking about making it fully guaranteed for 10% more than what Mahomes is getting per year? Maybe you can make the dollars more real in which case it's possible. But if it's a similar structure, I don't see how you get away with a much shorter and smaller contract.

#31 SportsGuy

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Posted 06 July 2020 - 09:28 PM

Why would Lamar sign that though? Unless if you're talking about making it fully guaranteed for 10% more than what Mahomes is getting per year? Maybe you can make the dollars more real in which case it's possible. But if it's a similar structure, I don't see how you get away with a much shorter and smaller contract.


Yea I think the guaranteed money would be strong.

Say, a 5/200 deal where 175ishM is guaranteed.

#32 TwentyThirtyFive

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Posted 06 July 2020 - 09:33 PM

Im sure they'll end up giving Lamar an 8+ yr deal. Ultimately, it'll be about when the dead money to cut him is minimal. That likely would be after 5 years. Im totally on board with committing whatever it takes to lock Lamar up through his 27 or 28 yr old seasons.

#33 Mike B

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Posted 06 July 2020 - 09:43 PM

Im sure they'll end up giving Lamar an 8+ yr deal. Ultimately, it'll be about when the dead money to cut him is minimal. That likely would be after 5 years. Im totally on board with committing whatever it takes to lock Lamar up through his 27 or 28 yr old seasons.

The age does not match up with what you want to do.  Lamar is on his rookie deal for 3 more years, which takes him to 26.  The Ravens can not renew him to next season.  They are going to have to commit past 28, probably to 31 or further.


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#34 TwentyThirtyFive

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Posted 06 July 2020 - 09:48 PM


The age does not match up with what you want to do. Lamar is on his rookie deal for 3 more years, which takes him to 26. The Ravens can not renew him to next season. They are going to have to commit past 28, probably to 31 or further.

If Randall has it right above and the Chiefs can get out after '24 I see no reason why we couldn't structure something to be out after '26.

#35 Mike B

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Posted 06 July 2020 - 09:52 PM

If Randall has it right above and the Chiefs can get out after '24 I see no reason why we couldn't structure something to be out after '26.

Maybe, I guess time will tell.  This discussion will pick up after next season.

 

Bottom line though Lamar had to get a big smile when he heard the Mahomes deal.


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#36 BSLMikeRandall

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Posted 06 July 2020 - 11:38 PM

https://www.nfl.com/...se in the deal.

 

 

Mahomes will be fully guaranteed $63 million at signing and will have $103.5 million guaranteed by March of 2021 and $141.4 million guaranteed by March of 2022, if he's still on the roster at that point, according to Pelissero. (Feels like a safe bet!) Rapoport added that there is a no-trade clause in the deal.

 

Russell Wilson's average salary was $35 million; Mahomes' $477 million over 12 years averages $39.5 million. Andrew Luck signed the biggest contract in NFL history back in 2016 for $140 million; now Mahomes will be guaranteed more than that in the first 20 months of his contract.

 

Over the Cap looks fully updated.

 

https://overthecap.c...k-mahomes/5594/

 

Patrick Mahomes signed a 10 year, $450 million contract extension with the Chiefs on July 6, 2020. The contract has $63.0819 million fully guaranteed at signing including a $10 million signing bonus. $141 million is guaranteed for injury and a total of $477.631 million can become guaranteed based on roster status. The guarantee structure is as follows. Upon signing Mahomes' 2020, 2021, and 2022 salaries are all guaranteed. On the 3rd day of the 2021 league year Mahomes' 2023 salary and bonuses will become fully guaranteed. On the 3rd day of the 2022 league year all of Mahomes 2024 compensation will become fully guaranteed. On the 3rd day of the 2023 league year Mahomes $38.9 million 2025 roster bonus will become guaranteed. On the 3rd day of the 2o24 league year the rest of Mahomes' 2025 salary will become guaranteed. On the 3rd day of the 2025 league year Mahomes $38.9 million 2026 roster bonus will be fully guaranteed. On the 3rd day of the 2026 league year the rest of Mahomes 2026 salary and his $49.4 million 2027 roster bonus become guaranteed. On the 3rd day of the 2027 league year the rest of Mahomes' 2027 salary and his entire 2028 salary and bonuses will become fully guaranteed. On the 3rd day of the 2028 league year Mahomes salary and bonuses in 2029 are guaranteed. On the 3rd day of the 2029 league year Mahomes' 2030 salary and bonuses are guaranteed. On the 3rd day of the 2030 league year Mahomes $13.9 million 2031 roster bonus is guaranteed. Finally on the 3rd day of the 2031 league year the rest of his salary is guaranteed.In every year starting in 2022 Mahomes has incentives that are worth $2.5 million a year. To earn the incentives Mahomes has to win the NFL MVP award ($1.25 million) and the AFC title game ($1.25 million). The max extension value including all incentives is $475 million.

The bold part is the important part as it's a break in the pattern. If I understand this right, then basically, if the Chiefs cut bait after 2024, before the 3rd day of 2025, they will in-fact incur $39.45M in dead money in 2025, or spread out over two years. 

 

Cutting bait after 2024 leaves them with $296.7M in cap savings, and contract dollars Mahomes would never see. It's in a way a 5 year/$183.5M contract. All of it guaranteed. After that, each year pays him for the next year, structured as guaranteed bonus money, a hefty dead money hit will come one day. Or a 2027 restructure/extension, because even seven years from now, I can't see a $60M cap hit being a thing. 

 

I don't think the dead money amounts are accurate yet, because it shows Mahomes dead money in 2023 as $4M. But come the start of 2021, his 2023 "salary and bonuses become guaranteed." which for 2023 is a total $40.45M. Add the prorated $4M from the $10M signing bonus, and 2023's dead money should be $44.45M. But maybe those numbers will be adjusted each league year as the guarantees are triggered.


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#37 BSLMikeRandall

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Posted 06 July 2020 - 11:43 PM

Wednesday article will definitely be on this topic/Lamar.


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#38 Mike B

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Posted 07 July 2020 - 05:48 AM

Mahomes is great, but that feels like too much to pay for one player.  It will likely be about 22 to 25% of their cap if it stays flat.

They had to make a deal, but the impact will be felt in future years.


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#39 ivanbalt

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Posted 07 July 2020 - 06:39 AM

Mahomes is great, but that feels like too much to pay for one player.  It will likely be about 22 to 25% of their cap if it stays flat.

They had to make a deal, but the impact will be felt in future years.

 

If anyone deserves it, it's him.  But yeah, after winning the SB, other Chiefs players will also be more expensive which doesn't add up well.



#40 Mackus

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Posted 07 July 2020 - 07:55 AM

Also have to consider what an average quarterback costs. Tannehill is the 10th highest paid guy and he'll make $29.75M next year. 17 guys make $25M or more and that's gonna keep going up.

Would you rather have Lamar/Mahomes or Tannehill and $12-15M in cap space?

You can't compare it to rookie contracts unless you're gonna start treating QBs like RBs which will never happen.

Having a top QB is still a bargain. They may take up 20-25% of your cap but I think they are much more than that in terms of what it takes for a championship roster construction.




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