The investment should be a pretty sound one as the value of sports franchises continues to rise. While the NFL lacks a true superstar quarterback, Patrick Mahomes has the potential to be one. Mahomes recently bought a very expensive Ferrari 812 Superfast, which is a true racing car. If Kansas City Chiefs quarterback Patrick Mahomes' love for the city wasn't clear, it was obvious after the quarterback purchased a part of the Kansas City Royals on July 28. Fresh off the back of signing 10-year contract extension with the Kansas City Chiefs worth up to $503 million, Patrick Mahomes has now become the youngest team owner in MLB history after purchasing a stake in the Kansas City Royals at the age of 24. The Kansas City Royals announced Patrick Mahomes addition to their ownership group via social media, officially welcoming him to the organization. Here are some of the most prominent: Few things represent the Lone Star State quite as much as a good burger. Earlier this month, Mahomes signed a 10-year extension with the Chiefs that brought the value of his 12-year contact to as much as $503 million. Patricks father, Patrick, Sr., played in Major League Baseball for 11 seasons, the last six with the Texas Rangers. There is also a possibility that once his playing days are over he may want to transition into a bigger role in running the club, as other former athletes like Derek Jeter and Magic Johnson have done. Sign up for free newsletters and get more CNBC delivered to your inbox. "I'm honoured to become a part-owner of the Kansas City Royals," Patrick Mahomes said in a statement. Top editors give you the stories you want delivered right to your inbox each weekday. It hasn't been reported how much of an investment Mahomes made. Patrick Mahomes announced he took a minority stake in the Kansas City Royals on Tuesday. Updated In 2017, the Kansas City Chiefs selected Patrick Mahomes, a quarterback, with the 10th overall pick. His salary is modest when compared to some of the leagues top quarterbacks, but his contract contains club options for 2022, 2023, which allow the club plenty of flexibility in terms of his salary. It has already paid major dividends. "I'm honored to become a part owner of the Kansas City Royals," Mahomes said in a statement. Including 2020 and 2021, Mahomes' total cash for the extension totals $477.63 million, which averages out to $39.8 million per year. Largely decorative legislation is seemingly the only chance Democrats have to . In July, a group led by Patrick Mahomes purchased an ownership stake in the Kansas City Wizards soccer club. Does Patrick Mahomes Own The Kansas City Royals? Why did Mr. Narendra Modi buy the property? Its a partnership that has been in place since before he took over as the starting quarterback for the Kansas City Chiefs, said Airshare CEO John Owen of the relationship with Chiefs quarterback. AZ, CO, CT, IL, IN, IA, KS, LA, (select parishes), MD, MI, NH, NJ, NY, OH, OR, PA, TN, VA, WV, WY, CA-ONT only.Eligibility restrictions apply. Those partners may have their own information they've collected about you. As the quarterback of the Kansas City Chiefs, Patrick Mahomes has led his team to victory in some of the most high-profile games in recent memory. @Royals https://t.co/UNhl53mY0u pic.twitter.com/jOAOa22GPQ, Also Read |Royals Slug 6 HRs In 14-6 Win Over Tigers. Christian McCaffrey, the Carolina Panthers all-time leading run-back, signed a $64 million extension in 2018. A 10-year-old will have plenty of chances to watch her father play as he continues to excel in the game. That's not bad for a 27-year-old, one whose value seems boundless given his various business. Mahomes has aligned himself with numerous blue-chip brands over the course of his career, including State Farm and Head and Shoulders. Their chairman and principal owner, John Sherman, spoke to the press after the announcement. Speculating the numbers behind the deal. That's one way to cement your ties to the community. This is the online home for all things baseball. The 24-year-old quarterback recently led the Kansas City Chiefs to victory in Super Bowl LIV, garnering Super Bowl MVP honors in the process, and then . The Royals are giving Mahomes the opportunity to live out his dream of playing professional baseball. He would had to have purchased his share either through one current owner or multiple owners given up a smaller percentage. He owns a 1% stake in Major League Baseball's Kansas City Royals, which has an estimated value of $12 million, according to Sportico.. callback: cb By choosing I Accept, you consent to our use of cookies and other tracking technologies. The company is currently valued at $700 million. That brings its perks. This opportunity allows me to deepen my roots in this community, which is something I'm excited to do.". This opportunity allows me to deepen my roots in this community, which is something Im excited to do.. Terms at draftkings.com/sportsbook. As the son of a former MLB player, baseball has always been in Mahomes' DNA. Patrick Mahomes business ownership: Chiefs QB counts Whataburger, Royals, Sporting KC among investments, How Joe Burrow vs. Patrick Mahomes compares to Tom Brady vs. Peyton Manning & other rivalries, Patrick Mahomes' family tree: Meet the Chiefs QB's wife Brittany, brother Jackson, parents & kids. While it is not common for active players to have ownership stakes in other teams, Mahomes is not the only one. I guess Mahomes needed a place to invest his millions, and he chose to do it in an MLB team. Mahomes capped off the month by becoming a member of the new ownership group of the Kansas City Royals. No, Patrick Mahomes does not own the Denver Broncos. Mahomes' baseball path begins with his dad, also named Pat Mahomes. Since its inception, Mahomes has donated over $500,000 of his own money to various organizations working towards the charity's mission, according to Fox News. The salary of Jake from State Farm is unknown, but it is likely to range between $10,000 and $15,000 per commercial. Kansas City Chiefs quarterback Patrick Mahomes has purchased a share of the Kansas City Royals, making himself the youngest part-owner in sports history and a two-sport Kansas City star. He signed a 10-year, up-to-$503 million contract extension earlier this month, the richest in sports history. According to an ESPN source, Mahomes and the club were in talks for the past 12 months. Mahomes has also been named to five Pro Bowls, which is quite the achievement in and of itself. Kansas City has many world-renowned museums, including the Museum of Fine Arts, Kansas City Zoo, and Truman Presidential Library. Im starting to think he might be superhuman. The younger Mahomes was also a baseball prospect in his younger days. "I'm honored to become a part owner of the Kansas City Royals," Mahomes. The Detroit Tigers drafted him in 2014, though he never played for them. Sherman further highlighted Mahomes' roots in baseball which started with his father, Pat Mahomes, who played 11 seasons in MLB as a reliever. What he is buying ownership for is to be an ambassador of the Royals, Chiefs, and Kansas City. The Royals announced Tuesday that the Super Bowl champion has joined the ownership group of the MLB franchise. New England Patriots quarterback Tom Brady also has a minority stake in the Boston Red Sox. His passion for the Current is undeniable, and I am glad that he will be with us as we continue on our journey to become the best in the NWSL. . After making NFL history, Kansas City Chiefs quarterback Patrick Mahomes made some in MLB, too. This includes his Kansas City Chiefs contract from which he was earning only $555,000 a. Ownership in the Royals isn't the only spending Mahomes has been doing, either. When the Super Bowl LIV MVP purchased the Kansas City Royals almost a year ago, he became the teams majority owner. Mahomes has spent his first four NFL seasons in. The citys economy as a whole is also heavily reliant on tourism. As a result, other running backs in the NFL may be able to earn more money in the future. Patrick Mahomes has a 10-year contract that could be worth $500 million. Mahomes has already enjoyed an extraordinary career in the NFL having won a Super Bowl, a Super Bowl MVP, and regular season MVP, but he's also no stranger to baseball. LeBron James is a part owner of soccer powerhouse Liverpool F.C., Russell Wilson is a part owner of the Seattle Sounders F.C., and Serena and Venus Williams are part owners of the Miami Dolphins. Because the quarterback is usually the most important player on the field, the quarterback will receive the least amount of money from the winning teams players. Mahomes, 24, will be the youngest part owner in sports history, and he will be a minority owner. Patrick Mahomes is having quite the year. pursuing BMM from St Xavier's College with his specialization in Advertising. pic.twitter.com/9lzODUUpVA. Patrick Mahomes is expected to throw for 5,052 yards, 52 touchdown passes, and 12 picks in 2019. Ahead of last year's election, Mahomes helped turn the Chiefs stadium into aplace where Kansas City residents could vote. He has a net worth of $40 million and is one of the wealthiest people in the world. Miles has also appeared in commercials for other companies, including State Farm Insurance. At just 24 years old, Mahomes is now a Super Bowl-winning quarterback and Major League Baseball. Commercial flights have replaced traditional charter flights as the primary mode of transportation for NFL players. Mahomes also owns part of the Kansas City Royals. })(); Designed by Elegant Themes | Powered by WordPress, Deadwood On A Baseball Bat: How To Prevent And Recognize Weak Wood On Your Bat, What MLB Scouts Look For In Potential Players, A Guide To Finding The Best Youth Baseball Gloves, How To Rock Your Baseball Cap Look: Styling Tips For Any Outfit, What Tree Are Baseball Bats Made From: Exploring Different Types Of Wood, The Essential Role Of Welting In Baseball Gloves: Securing A Long-Lasting Performance, How To Tighten Baseball Pants For A Perfect Fit, Dropping The Bat In Baseball: Exploring The Rules And Techniques, An Unwelcome Change: Exploring Why Baseball Fans Dislike Alternate Jerseys, Unlocking The Secrets Of Baseball Bats: How Different Types Affect Performance, Exploring The Speed Of Baseball: Factors Records And Strategies For Improvement. Patrick Mahomes is a Kansas City native who has purchased a small minority stake in the team. Weeks after signing the richest contract in sports history a 10-year deal worth up to $503. In 2021, Mahomes purchased a minority stake in the Kansas City Royals, becoming the youngest principal owner in MLB history. Baseball is a sport that is struggling to attract young fans, and Mahomes could be the perfect ambassador. He also won the NFL MVP in 2018. No products in the cart. He also won the NFL MVP in 2018. Visit Insider's homepage for more stories. Mahomes, at 24 years old, will be the youngest part owner in sports history. Not only is he a Texas native. According to a statement issued by the Kansas City Chiefs, quarterback Patrick Mahomes is a member of the teams ownership group. Mahomes is under contract through the 2021 season and has club options for 2022 and 2023. Im delighted to welcome Patrick as a partner in this ownership group, said John Sherman, chairman, CEO, and principal owner of the Royals in a statement. becomes the youngest sports owner in history. By the end of his career, Drew Brees had made 245 million dollars, making him the NFLs all-time money leader. Kansas City Royals (@Royals) July 28, 2020 "We are very proud and excited to have Patrick as our partner in the ownership group of this franchise," Royals principal owner and CEO John Sherman . The Kansas City Chiefs announced recently that Patrick Mahomes had signed a 10-year contract worth up to $503 million. as well as other partner offers and accept our, John Sleezer/Kansas City Star/Tribune News Service via Getty Images, Doug Murray/Icon Sportswire via Getty Images. I love this city and the people of this great town," Mahomes said in a statement. The Super Bowl win is one of the NFLs biggest achievements, and each member of the winning team will receive $150,000 as a result. Soccer Star, Fitness Enthusiast, and Patrick Mahomes Number One Supporter- However, the. BioSteel, Adidas, Oakley, Head and Shoulders, State Farm, Bose, DirecTV, Essentia Water, and Electronic Arts are among the companies that have endorsed our brand. event : evt, In March of this year, the fast food restaurant chain plans to open four locations in the greater Charlotte area. 2. Go @Royals!! There is no denying that Patrick Mahomes is a rising star in the NFL. Top editors give you the stories you want delivered right to your inbox each weekday. Patrick Mahomes, the reigning NFL MVP, is the new owner of the Kansas City Royals baseball team. According to Work+Money, Mahomes and Matthews spent around $400,000 renovating the house, situated inthe city's Mission Hills neighborhood. He played at Texas Tech for one season in 2015 as a relief pitcher before quitting to focus on football, and he was drafted by the Detroit Tigers in the 2014 MLB June Amateur Draft, according to Baseball Reference. We also offer a variety of resources for baseball players, including tips on hitting, pitching, and fielding. If thats not the definition of living the life, then I simply dont know what is. The elder Mahomes pitched in more than 300 baseball games, primarily as a reliever. The car was thought to be a Lamborghini Urus a super-powered SUV that costs around $230,000. Since being drafted in the first round of the 2017 NFL Draft, Kansas City Chiefs quarterback Patrick Mahomes has taken the league by storm. forms: { With His Second Super Bowl Win Patrick Mahomes Is On Pace To Become The Wealthiest Quarterback In The NFL, Patrick Mahomes Could Earn A Record Deal Worth More Than $200 Million, Tom Brady Is Six Times Richer Than Patrick Mahomes Heading Into Super Bowl LV. Unlike MLB deals, NFL contracts arent fully guaranteed, so Mahomes cant quite start spending like he has earned his entire half a billion dollar contract. In 2020, Mahomes became the youngest Super Bowl-winning quarterback in NFL history, when the Chiefs defeated the San Francisco 49ers in Super Bowl LIV. Patrick Mahomes also released a statement expressing his gratitude and excitement at being a part-owner of the team. He looked into the end zone for Sammy Watkins first, then Travis Kelce, and finally Kareem Hunt at the end. The actor who portrays Jake in the commercials, Kevin Miles, earns between $10,000 and $15,000 per commercial. What do Patrick Mahomes and Kevin Durant have in common? Just weeks after inking a 10-year . John Sherman, the owner of the Kansas City Royals, currently owns the team. Call 1-800-GAMBLER. Mahomes, 24, became the youngest quarterback to win Super Bowl MVP in February. "I love this city and the people of this great town. Suresh Menon is an NFL and Football writer at EssentiallySports. The 24-year-old was sold to a group led by David Glass for $1 billion. 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