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With Latest Extension, Chiefs QB Becomes Bigger Bargain

The latest quarterback in the NFL should have the Chiefs front office dancing for joy. As yet another extension drops, the NFL's greatest bargain grows even larger.

The latest quarterback in the NFL should have the Chiefs front office dancing for joy. As yet another extension drops, the NFL’s greatest bargain grows even larger.

Yet another quarterback extension has hit the headlines this offseason. News from Adam Schefter broke early Thursday about an agreement between the Arizona Cardinals and their young quarterback, Kyler Murray. The contract extension, which is set to pay Murray $230.5 million over five additional seasons, pays Murray at an annual value of $46.1 million. That mark just exceeds the $45 million mark set by the Chiefs and Mahomes when he signed his record-setting 10-year, $450 million contract extension in July 2020.

The Latest Extension Adds To The Chiefs Bargain At Quarterback

We are just over two years since Patrick Mahomes inked his record-setting contract with the Chiefs. His $450 million contract remains the largest in the history of the NFL. However, where some recent quarterback contracts have exceeded Mahomes lies in their average annual value (or AAV).

Below are notable contract extensions since Mahomes signed his back in 2020:

  • Patrick Mahomes II: ten-year, $450 million ($45m AAV)
  • Aaron Rodgers: three-year, $150.8 million ($50m AAV)
  • Deshaun Watson: five-year, $230 million ($46m AAV)
  • Josh Allen: six-year, $258 million ($43m AAV)
  • Kyler Murray: five-year, $230.5 million ($46m AAV)

With the latest extension in the books between Murray and the Cardinals, Mahomes now becomes just the fourth highest-paid quarterback in the NFL, behind Murray, Rodgers, and Watson. For Murray, who had a fantastic 2020 season that saw him account for 37 total touchdowns, the extension comes after a down year, statistically. As good as Murray has shown he can be, he doesn’t come close to Mahomes and the dominance we’ve seen thus far in his career.

Murray followed up his 2020 campaign with just 29 total touchdowns in 2021 and less than 4,000 yards passing. Aside from Rodgers, none of the quarterbacks paid ahead of Mahomes have led their team to playoff success. While Mahomes owns an MVP, Super Bowl MVP, and Super Bowl ring to his name, Watson and Murray each own none of those.

The masterful contract agreement between the Chiefs and Patrick Mahomes continues to be one of the league’s greatest bargains. For a team that has hosted four consecutive AFC Championships and been to two Super Bowls in the past three seasons, it bodes well for their chances to once again hold the Lombardi within the next few seasons.

While the rest of the league pays up at the quarterback position, the Chiefs are content to sleep soundly knowing they have the best of the bunch locked up just under market value.

Do you agree that the Patrick Mahomes contract is the biggest bargain in the NFL? Leave a comment down below to join the discussion.

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