Patrick Mahomes and the rest of the rest of the starting quarterbacks In the NFL should send Jerry Jones a thank-you note.
Jones waited to the final year of Dak Prescott’s previous extension before waiting to extend him again. So Prescott had all the leverage and signed a four-year, $240 million deal in new money with the Cowboys in 2024. That bumped his salary up to $60 million a year that doesn’t expire until 2028 and made him the highest-paid player.
At the time, the highest-paid quarterbacks were making $55 million a year.
So the Chiefs, who signed Mahomes to a 10-year, $450 million deal that was the best total value in sports when he signed it in 2020, decided that Mahomes needed a new extension.
If not for the Prescott extension, they might have aimed for a $60 million deal. But he had to make more than Prescott, who has never made a Super Bowl. So they signed Mahomes to an extension that will pay him $64 million a year and expires after the 2033 season.
So now Mahomes and Prescott are the two highest-paid quarterbacks at $64 million and $60 million.
The next five at $55 million are Josh Allen, Joe Burrow, Trevor Lawrence, Jordan Love and Matthew Stafford, who signed a one-year deal and may be near retirement.
Of the other four, Allen’s deal expires after 2030 as does the Lawrence contract. Burrow’s deal runs until after 2029 season and Love’s through 2028. It remains to be seen if any of them top the $64 million mark Mahones has set in their next contracts.
Next on the list are Jared Goff and Mark Purdy at $53 million, Justin Herbert at $52.5 million, Lamar Jackson at $52 million and Jalen Hurts at $51.
Daniel Jones signed at $44 million last year and it expires after this season, but he was injured last year so he has to prove he is due for a raise in 2027.
And then there are young quarterbacks like C.J. Stroud and Bryce Young, who both will play on their fifth year option, and Derek Maye, who enters his third season this year.
All this means, there are going to be a lot of interesting contract negotiations in the next few years. It won’t be surprising if a quarterback gets $70 million in the next few years.