In the NFL, it is all about the quarterback.
The past NFL offseason highlighted more than ever the changing nature of the league and how players are valued. A trio of quarterbacks signed deals worth at least $250 million, while the biggest total outlay for a running back was $25 million via a four-year free agent contract Miles Sanders signed with the Panthers. Teams signed contract extensions with 10 QBs worth a combined $1.05 billion, while the six running back extensions totaled $29 million, according to Spotrac.
The 10 highest-paid players in the league in 2023 will earn a combined $488 million on and off the field, and the only non-quarterback in the group is Falcons guard Chris Lindstrom at No. 10 with $35.8 million, including a $27.5 million signing bonus for the contract he signed in March.
Lamar Jackson leads the way with $82 million, followed by Patrick Mahomes ($65.5 million) and Daniel Jones ($47.5 million).
In April, Jackson signed a five-year, $260 million contract with the Ravens after two thorny years of negotiations that included a trade request and Jackson operating without an agent. One of the holdups was the guaranteed dollars after the Browns upended the market last year when they fully guaranteed Deshaun Watson’s $230 million deal following a trade with the Texans. NFL owners have long avoided the multiyear fully guaranteed contracts typically done in the NBA and MLB.
Jackson ultimately secured $185 million in guaranteed money, and his deal set records for average annual value ($52 million), signing bonus ($72.5 million) and one-year payout ($80 million)—Justin Herbert’s $262.5 million, five-year contract has since set a new standard for average value.
Jackson has eschewed most endorsement partners during his six-year NFL career, and the 2019 NFL MVP is the rare top player without a cleat deal. Sportico estimates he still earns roughly $2 million a year off the field from sponsors, memorabilia and licensing. His licensing check from the NFL Players Association was more than $700,000 for the 2022 season and $1.4 million the prior year.
Jackson has the fourth-best winning percentage of any QB during the Super Bowl era, while the player at the top of the list is Mahomes, who has won 80% of his games. The reigning MVP and Super Bowl champion is the unquestioned face of the NFL with the retirement of Tom Brady, and brands are getting behind him more than ever.
Mahomes has nearly 20 current endorsement partners, including Adidas, Coors Light, State Farm and Subway. This year, he added BOSS, T-Mobile and Walmart. In 2019, Mahomes was the first football player to sign an endorsement deal with Oakley to help the brand launch its official partnership with the NFL; he has his own line of Oakley eyewear. Mahomes ranked second behind Brady in the NFLPA’s licensed product sales ranking, and the union’s tax filings show Mahomes received $2.4 million for use of his name and likeness last year.
Sportico estimates he generates $25 million off the field, nearly twice as much as any other active NFL player. The two-time Super Bowl champ is investing in his local sports teams with minority ownership stakes in MLB’s Royals, MLS’ Sporting KC and NWSL’s KC Current; he also invested in the Major League Pickleball Miami franchise.
Mahomes is only in year two of the 10-year, $450 million contract extension he signed in 2020. It looks like a bargain for Kansas City, as the sport’s top player is now the seventh highest-paid quarterback by average salary.
Mahomes isn’t sweating it.
“You just want to do whatever to not hurt other quarterbacks whenever their contracts come up,” Mahomes told the media at the Chiefs’ OTAs in May. “You want to kind of keep the bar pushing. It’s not about being the highest-paid guy. It’s not about making a ton of money.”
“I’ve made enough money where I’ll be set for the rest of my life,” Mahomes added. “At the same time, you gotta find that line where you’re making a good amount of money, but you’re still keeping a lot of great players around you so you can win these Super Bowls and you’re able to compete in these games.”
Of the $488 million in projected earnings for the top 10 players, only 16%, or $77 million, is generated off the field. Almost all of that is tied up in a handful of quarterbacks: Mahomes, Dak Prescott, Russell Wilson, Aaron Rodgers and Josh Allen. They have the five richest endorsement portfolios in the NFL and are the only players earning at least $8 million off the field, by Sportico’s count.
Prescott is a hot commodity as the quarterback of “America’s Team” and counts big brands like Albertsons, Anheuser-Busch, AT&T and Loews as partners. Last year, Nike launched its first-ever Jordan brand-NFL collaboration that featured Prescott and the Cowboys in an apparel line.
Allen’s profile has skyrocketed while leading the Bills to three straight AFC East titles. His endorsement roster has ballooned to more than a dozen names, including Nike, New Era, Gatorade, Pepsi and Verizon. Rodgers won’t be handling any more Discount Double Checks with the end of his 12-year State Farm partnership, but the four-time MVP is still aligned with more than 10 brands. Rodgers also passed Brady this summer for the highest on-field earnings of all time with his restructured Jets contract that paid a $35 million signing bonus, and his career total will be $342 million by the end of the season.
Sportico’s earnings figures include base salaries and bonuses for the 2023 NFL season. Excluded are any incentives or playoff bonuses. The off-field earnings estimates were compiled through conversations with those familiar with NFL endorsement deals. Also included is income from memorabilia, appearances, media and businesses tied to their celebrity. The figures are all before taxes and any agent fees.
