When it comes to hiring a young franchise quarterback for a second contract, the earlier the team kills him, the cheaper it will be. The chiefs have officially begun a long-term deal with quarterback Patrick Mahomes.
Sam Mellinger from the Kansas City Star reports that negotiations between the Chiefs and Mahomes has begun.
Mahomes is the best player in the NFL after just two seasons as a starter and is already on the way to being one of the best players who have ever played the game. He deserves to be the highest paid football player. Many have suggested that he will be the first player to break the $ 40 million a year threshold.
With two years remaining for his rookie deal, it doesn’t cost $ 40 million a year to reach $ 40 million a year considering how the NFL and the NFL Players Association rate contracts. A $ 200 million five-year extension (i.e.$ 40 million a year in new money) would become a seven-year, $ 32.5 million annual contract given the money he was supposed to earn in 2020 ($ 2.794 million) and 2021 ($ 24.837 million) -Dollar.
For the Chiefs, the prospect of signing Mahomes for $ 32.5 million a year by 2026 is a bargain for ski masks. This could lead to Mahomes wanting a shorter term contract like a four year extension. With new money of $ 40 million a year, a four-year extension would cost the Chiefs $ 31.27 million a year to sign. Another bargain with ski masks.
If fans see that Mahomes is worth $ 40 million a year (he is), they are likely to think he will get $ 40 million a year when he signs. But if Mahomes signed a $ 40 million a year contract when it was signed, it would drive up the average of the new money. For example, if the Chiefs spent the remaining two years on Mahomes’ current deal and replaced it with a six-year, $ 240 million contract (i.e.($ 40 million per year upon signing), the average new money would be $ 53 million per year.
The ultimate challenge is to find a way to give Mahomes what he deserves without breaking the team’s salary cap. And that’s why Mahomes should be the first player whose remuneration is linked to the percentage of the cap.
Such a contract would include specific salary figures for each year of the business (which would protect him from a drop in the salary cap), along with the obligation that his compensation would always reflect at least 15 percent of the team’s total salary. As the cap continues to rise (after the dust settles on the pandemic, it will surely be the case), Mahomes would be protected from having his business overhauled without being perceived as a cap.
For example, regardless of his payment, there would still be 85 cents left over to put a team around him. Or 84. Or 83. Whatever the two sides choose for the best number is the amount that is left over year after year.
Mahomes has made it clear that he wants to leave enough money on the table for other players. He could take a harder position if he wanted to, telling management that their job is to manage the cap and bring high-profile players to the field. If the two sides find a way to tie his salary to a certain, fixed percentage of the upper limit, there is no question whether he gets too much or too little. Whatever the cap, it will get the same piece every year, relative to the rest.
Other players have tried to tie compensation to the cap percentage. The teams resisted, possibly at the behest of the NFL board of directors. Regardless, Mahomes is the right player to get this process going – and we hope that he and his agents use their leverage to do something for the good of Mahomes and for other players behind him who have a better chance would have to secure a similar term.