Patrick Mahomes is one of the highest-paid QBs in the NFL, with a net worth of about $90 million. In September, the Chiefs restructured their star quarterback’s contract to make him the highest-paid NFL player in a 4-season period. Recently, Patrick Mahomes agreed to restructure his contract again, to free up $21.6 million worth of salary-cap space for the Chiefs. Nonetheless, he remains one of the highest-paid QBs in the NFL. The former Texas Tech player has amassed his wealth, not only through his lucrative contract with the Chiefs, but also through his endorsements.
At just 28 years old, Patrick Mahomes has built an impressive roster of endorsements and investments, allowing him to become a touted millionaire, philanthropist, and investor. The Chiefs star player has endorsement deals with major brands such as Adidas, State Farm, Oakley, Subway, Head & Shoulders, Hy-Vee, and DirectTV. Moreover, his latest venture with Adidas has catapulted him straight into Michael Jordan territory.
Patrick Mahomes’ latest Adidas venture reminiscent of Michael Jordan
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The Five-time NBA MVP and Six-time NBA champion changed the course of the sneaker industry when he penned his five-year, $2.5 million deal rookie deal with Nike in 1984. Since then, his band ‘Jordan’ has seen exponential growth in collaboration with the shoe manufacturing giant, with Air Jordans causing an explosion in the market. Michael Jordan’s deal with Nike helped him crack the Forbes 400 richest people in America with a net worth of whooping $4.7 billion. He became the first-ever athlete to do so. And now, Patrick Mahomes seems to be on a similar path with Adidas.
Back in August 2021, the Chiefs quarterback released his Future Icons collection in collaboration with Adidas, along with his first signature training shoe, the Mahomes 1 Impact FLX. In February this year, Mahomes 2, the next version of his signature Adidas line was unveiled. Now, Patrick Mahomes has come forward to announce a new colorway for Mahomes 2 sneakers, which will drop on May 1 and will be available to shop on Adidas’ website. The new color scheme features a sleek sneaker in black and silver.
When Mahomes 2 was initially launched, it is no surprise that the product flew off the shelves and was sold out soon. Just like Michael Jordan transformed the sneaker industry with his collaboration with Nike, Patrick Mahomes seems to be following suit with his product line with Adidas. The lucrative contract is sure to earn him millions. And with his net worth touching $90 million already, who’s to say the Chiefs won’t have a billionaire playing for them some day?
The investments that keep on giving
When Patrick Mahomes agreed to a 10-year, $450 million extension in 2020, it became the largest contract at the time in terms of total value. Since then, he has associated his name with several popular brands that have witnessed tremendous growth. Recently, the 28-year-old became the new face of Prime, KSI and Logan Paul’s energy drink brand. According to a report by AFROTECH, the brand made $250 million in sales in its maiden year, 2022 and in 2023, Prime was projected to surpass $1.2 billion in annual sales.
In 2022, Patrick Mahomes became the largest shareholder in the American State Bank (ASB). Not only this, but he has also invested in several sports teams, including his latest venture into F1. In 2023, Patrick Mahomes joined hands with Travis Kelce and golfer Rory McIlroy to invest in the Alpine F1 team. Other investors include Ryan Reynolds and Ron McElhenney. In addition to Alpine, Mahomes has his hands in other sports pies, such as a Major League Baseball team and a soccer team. Needless to say, Patrick Mahomes’ domination of the NFL has placed him to become one of the highest-paid athletes.
