Chiefs Restructure Patrick Mahomes' Contract for Next 4 Seasons

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00:00 (upbeat music)

00:03 - Giving him a large sum of money

00:05 over these next four years from 2023 to 2026,

00:09 more than $210 million cap all fully guaranteed.

00:14 What was the decision from Kansas City

00:17 and the impetus behind getting this restructuring

00:20 of Mahomes' contract done right now?

00:22 - Yeah, just so you understand guys,

00:24 'cause there's just this misnomer,

00:25 I'm told that they were working on this

00:27 with Chris Cabot and Lee Steinberg,

00:30 his agents for a while.

00:31 It's not like it just came to a head recently,

00:34 but when you look at the way they've structured this deal,

00:37 they made the cashflow over the next four years

00:39 extremely high compared to where it was.

00:41 His base salaries were very low.

00:43 His contract was based, or before this restructure

00:47 and more money up front, based a lot on roster bonuses.

00:51 So they took care of him,

00:53 made the cashflow higher than Joe Burrow.

00:55 Burrow's contract, by the way, is phenomenal.

00:56 His agent did a great job, but they took care of him.

00:59 They had to.

00:59 You know what's interesting, Beth?

01:01 Going back to the '17 draft,

01:04 the majority of the league did not think Patrick Mahomes

01:07 would be a very good quarterback.

01:08 Why?

01:09 The Texas Tech offense,

01:11 it didn't really transfer the National Football League.

01:13 Now play with a reckless style of play at Texas Tech.

01:18 And I gotta give the Chiefs credit.

01:19 Now I did report this many years ago.

01:21 The Seahawks really, like Mahomes,

01:23 probably would have drafted him in '17.

01:25 They loved him.

01:26 But the fact of the matter is,

01:28 I give the Chiefs credit.

01:29 They traded up.

01:30 Most teams did not like this player.

01:31 They liked the person,

01:32 but they didn't think the player would be very good.

01:33 And they were all wrong, by the way,

01:35 other than the Seahawks and the Chiefs

01:36 and maybe a couple of other teams.

01:37 And I gotta give Andy Reid and Brett Veach the credit.

01:41 Brett Veach, the GM.

01:42 Veach was the one who really told Andy

01:44 how great he was doing his scouting.

01:46 And they've got it right and good for them

01:48 and the Hunt family to take care of Clark Hunt,

01:53 in particular, the owner,

01:55 to take care of this player.

01:56 'Cause it was long overdue, by the way.

01:57 The structure was so team-friendly to begin with.

02:00 And they moved this cash over for a four-year period.

02:03 (upbeat music)

02:05 (upbeat music)

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