Mike Florio expects Patrick Mahomes to be highest-paid player in league history by Week 1

We’ve been saying all offseason that it was only a matter of time before the Kansas City Chiefs and Patrick Mahomes worked out a renegotiated contract. A new report has put a timeline on when that might actually happen.

According to NBC Sports’ Mike Florio, a reworked deal between the Chiefs and Mahomes is expected to happen before the 2023 NFL season begins. Take a look:

Chiefs G.M. Brett Veach already has vowed to address the Mahomes deal after more quarterback contracts are completed. While Veach didn’t delve into any specifics, here’s what reasonably should be expected, based on our conversations with folks aware of the dynamics of the situation.

Expect Mahomes, before the season begins, to once again be the highest-paid player in league history.

When Mahomes signed his 10-year extension worth up to $503M back in 2020, it was one of the wealthiest sports contracts in history. With recent deals for Eagles QB Jalen Hurts and Ravens QB Lamar Jackson, Mahomes’ contract value is well-behind the top in the league.

We know that Brett Veach has been monitoring the changes to the quarterback market and back in February said he was open to adjusting Mahomes’ contract amidst the rising market. He recently suggested that the team might wait for contract extensions for Joe Burrow and Justin Herbert to be done before they explored any adjustments.

The general manager’s latest comments following the 2023 NFL draft didn’t clarify when a deal could happen.

“I mean, the draft just ended here,” Veach said. “Coach got asked about it, I got asked about it (and Chairman & CEO) Clark (Hunt) got asked about it there. We’re a few years into a long deal but at the same time, we have great communication with Pat (Mahomes), so that’ll be a situation where we work through all those things. There’s no timing on it from our end because we’re in constant communication.”

As Veach alluded, Clark Hunt was asked about the situation too. He had an interesting perspective on all of it.

“Well, I don’t know that there’s really a way to quantify it financially and no matter what he makes over his career, I’m sure one way or another he’ll be underpaid,” Hunt said during the NFL draft. “The great thing about Patrick (Mahomes) is, when we did that deal, he recognized that he wanted to give the club the flexibility to build the team around him. And that contract was structured in that way. We’re only one year in to a 10‐year contract, so there’s a long way to go but I think what Patrick cared most about was winning and he’s certainly been able to do a lot of that. (General Manager) Brett Veach has had enough flexibility to be able to add quality players each year and that’s part of the reason why were able to lift the Lombardi Trophy again.”

Knowing that Mahomes structured his contract in a way to give the team the utmost flexibility the first time around, it’s reasonable to expect that any adjustment to his contract would maintain a similar level of flexibility. Even with the words, “highest-paid player in league history” floating around.

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Story originally appeared on Chiefs Wire