This is how Patrick Mahomes, the highest-paid Super Bowl LVIII player is investing his earnings

BY Preta Peace Namasaba February 13, 2024 3:00 PM EDT
Patrick Mahomes. Photo credit: Patrick Mahomes

Patrick Mahomes and the Kansas City Chiefs secured their second consecutive NFL championship in overtime during the weekend in Las Vegas. The 28-year-old secured his third Super Bowl, third Super Bowl MVP and led the team to four Super Bowl appearances in five seasons. He has reinforced his place among the greatest quarterbacks in NFL history.

Mahomes is also making dominant moves outside of football.
“I am trying to build an empire off the field in every way. I watch a lot of the great athletes that came before me and they found ways to build their empire and to build themselves up off the field, so I am trying to do that as much as possible.”

The highest-paid player in Super Bowl LVIII, Mahomes signed a 10-year contract with the Chiefs worth a total of $503 million in 2020. The contract was restructured in September and guaranteed him $210.6 million between 2023 and 2026, the most an NFL player has been paid in four years. In addition to his NFL earnings, he has signed highly lucrative endorsement deals with prominent brands such as Adidas, Oakley, Hy-Vee, State Farm, DirectTV, and beverage manufacturer Prime, among others.

Given his popularity in American sports, it isn’t surprising that Mahomes has targeted the sports scene for most of his investments. The majority of his investments are currently localized to the Kansas City area. Although being an active player in the NFL precludes Mahomes from investing in the league, he plans on getting a share of a team once he retires.

BlackStars News has highlighted seven ways Patrick Mahomes has invested his earnings.

1. Kansas City Royals
Following his enormous contract in 2020, he immediately invested $10 million in the MLB’s Kansas City Royals. Mahomes keenly follows the sport and is familiar with its inner workings. He played college baseball at Texas Tech University and his father, Pat Mahomes was an MLB pitcher. The Royals are currently valued at $1.2 billion.
“The biggest thing is to do the stuff you love and you have a passion for because if you do that, you usually figure out a way to make it work. That has been big to me, not to just invest in everything but to invest in stuff that you truly believe in,” Mahomes said about how he chooses his investment ventures.

2. Sporting Kansas City
Although soccer has historically struggled in the United States, it has experienced a tremendous surge in financial value and public interest in the past decade. Mahomes accordingly purchased a stake in MLS team Sporting Kansas City. It is valued at $575 million, sitting in the top half of the most valuable MLS clubs. Mahomes is part of the team’s principal ownership alongside five local entrepreneurs.

3. Kansas City Current
Mahomes joined the Kansas City Current ownership group in 2023, becoming the first active NFL player to have equity in an NWSL team. He is a co-owner of the team with his wife, Brittany who is a former professional soccer player. The club’s valuation of $75 million outperforms the league average of $66 million. Notably, the Current has constructed the first purpose-built stadium built exclusively for women’s professional soccer with a capacity of 11,500 at an estimated $117 million.

4. Whoop
Mahomes made a significant investment in Whoop, a wearable fitness tracker. The company tracks workouts and outputs, giving its users critical data to enhance performance and optimize training routines. The performance tracker has expanded its compatibility with other major athletic trackers such as Apple Health and Peloton. Its valuation has tripled to $3.6 billion since Mahomes’ investment in 2020.

5. Hyperice
Not only is Mahomes a brand ambassador for Hyperice, but he is also one of the company’s major investors. The athletic brand develops technology for the recovery, mobility, and improved performance of muscles and joints with products such as massage guns, hot and cold therapy devices for sports recovery, and stretching devices for different muscle groups. It purchased Recoverx, a technology company specializing in intelligent contrast technologies and Core, a mental wellness company. Hyperice has partnered with the NBA, NFL and the PGA Tour.

6. KMO Burger
Mahomes has brought a share of his Texan childhood to his second home, Kansas City. He joined a team of investors to create the franchise group KMO Burger, an expansion venture by Texas-based fast-food chain Whataburger. Mahomes plans to create 30 Whataburger locations in the  Kansas City area over the next seven years. Whataburger has more than 850 locations across 14 states, annual sales of more than $2.8 billion and more than 60 million customers.

7. Alpine F1 Team
Alongside Kansas City Chiefs teammate Travis Kelce and other sports stars, Mahomes was part of a group of investors who invested $211 million for a 24 percent stake in the Alpine Formula 1 team. The team is principally owned by French automotive company Groupe Renault and Renault–Nissan–Mitsubishi Alliance. It rebranded in 2021 to promote Renault’s sports car brand, Alpine and is valued at $900 million.