Getty Kansas City Chiefs superstar Patrick Mahomes is expected to become the first NFL billionaire.
If you’ve watched the new hit miniseries, “Super Pumped: The Battle for Uber,” you’ll know what I’m talking about when I say Patrick Mahomes II will soon have the same last name as some of the global elite.
That’s right, the Kansas City Chiefs superstar is expected to become the first NFL billionaire athlete — with a ‘B.’ According to Andrew Petcash, the founder of the sports business newsletter “The Petcash Post,” Mahomes is on track to accomplish this rare feat and it has just as much to do with his investment ventures as his potential $503 million in NFL earnings.
The Kansas City Chiefs pay Mahomes well.
He’s on a 10-year contract for a whopping $503,000,000.
It’s the richest contract in sports history.
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Petcash Outlines Mahomes Greatest Investments
The sports business analyst began with the obvious, Mahomes currently makes over $22 million in endorsement money. Those companies include Adidas, Nestlé, Oakley, Whoop, Panini, Bose, GEHA, Directv, Hy-Vee, Airshare, BioSteel, State Farm, Electronic Arts, Procter & Gamble, and Molson Coors Brewing — per Petcash.
That’s before you consider his ownership stake in two professional sports teams alongside his wife Brittany Mahomes.
3. Sporting Kansas City
Mahomes also bought a stake in Sporting KC.
MLS Franchise Valuations are on the rise:
2018: $240 M
2019: $313 M
2020: $540 M
@SportingKC (currently valued at $557M) has a lot more upside.
Petcash detailed the rising organizational worth of each franchise that Mahomes is a part of. The Kansas City Royals have ballooned from a $187 million valuation in 2005 to $1.02 billion in 2020. The quarterback bought a $10 million stake that year.
The MLS franchise Sporting Kansas City shouldn’t perform poorly for Mahomes long-term either, surging from $240 million in 2018 to $557 million in 2022.
If you thought all that was smart thinking from the star athlete, we haven’t even gotten to Petcash’s top two investment moves yet — Hyperice and Whoop.
1. Whoop
In 2020, Mahomes invested in Whoop when it was valued at $1.2 billion.
Today it’s 3x that at $3.6 billion (and rising).
He also gets a nice marketing fee for being a @whoop brand ambassador.
The sports business writer broke down each one, explaining that the performance recovery company (Hyperice) has exploded with “20 [times] its revenue from 10M to 200M in just 3 years.” Petcash added that it’s inching closer to a $1 billion valuation after a deal with the NFL and Mahomes, of course, is a long-term investor and brand ambassador.
The Chiefs star only invested in Whoop in 2020 but it’s already shot up from a $1.2 billion valuation to “$3.6 billion (and rising).” Mahomes is a brand ambassador for the digital fitness company as well.
Petcash ended his thread by talking about some of the ventures Mahomes is involved with now.
Bonus) Patrick’s Philanthropy
1. Started the ‘15 and Mahomies’ foundation
2. Raised $600,000 at the inaugural 15 and Mahomies foundation gala, with $225,000 going to 15 deserving charities.
3. Provided 15 scholarships to children of US Navy SEALs.
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Not Quite There Yet
Although this projection is sound, Mahomes still has a long way to go in a workplace like the NFL. A little over $63 million of his 10-year extension is fully guaranteed according to Over The Cap and any professional athlete will always be wary of injuries.
Forbes ranked him 15th on the list of the “World’s Highest-Paid Athletes” in 2021. UFC fighter Conor McGregor overtook soccer superstars Lionel Messi and Cristiano Ronaldo for the crown last year.
Dallas Cowboys quarterback Dak Prescott and Tampa Bay Buccaneers future Hall of Famer Tom Brady finished fourth and ninth on that list — but keep in mind that this Forbes rank only takes into account paid earnings, not investments.
Mahomes has done really well for himself but he’s also doing a lot to give back. He runs a foundation called “15 and the Mahomies” that “is dedicated to improving the lives of children.” This charity organization has raised over $800,000, which has been distributed to a variety of efforts.
Petcash also made note of the 15 scholarships that Mahomes has provided to children of different US Navy SEAL families — a truly honorable campaign.
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Patrick Mahomes on Track to Be First NFL Athlete to Accomplish Rare Feat