The NFL is the world’s richest sports league with the average team worth $5.93 billion and profits of $143 million. The sport’s biggest stars are also cashing in more than ever.
The 20 highest-paid players will earn an estimated $1.1 billion this year, on and off the field, up 29% from the top paid in 2023. Dak Prescott is the first NFL player to make $100 million in a calendar year with $86.25 million from the Dallas Cowboys in 2024 and an estimated $14 million from endorsements, memorabilia and licensing.
Quarterbacks dominate the highest-paid players with 16 entries, including every one of the top 10. Jared Goff ($86 million), Jordan Love ($82 million), Patrick Mahomes ($73 million) and Joe Burrow ($70 million) round out the top five behind Prescott.
Prescott’s new four-year, $240 million deal was completed hours before the Cowboys kicked off their season against the Cleveland Browns. The deal set an NFL record for average annual salary of $60 million, a major step up from the $55 million-a-year deals for fellow quarterbacks Burrow, Love and Trevor Lawrence. In addition, the $231 million in guaranteed money was a tick ahead of the $230 million the Browns gave QB Deshaun Watson in 2022—a deal that is drawing scrutiny once again after new sexual assault allegations.
Prescott now has two of the five largest signing bonuses in NFL history, including the $66 million he received in 2021. The biggest NFL deals traditionally include large signing bonuses, which was the case this year for Love ($75 million), Goff ($73 million) and Kirk Cousins ($50 million). Brian Burns ($43.9 million) is the line defender.
Prescott's role as QB for America's Team makes him a popular pitchman. His partners include Nike's Jordan Brand, Lowe's, Beats, AT&T and Albertsons.
Mahomes has built a staggering on-field resume since he was drafted 10th overall in 2017 by the Kansas City Chiefs. He is a two-time NFL MVP, record holder for career passing yards per game (295) and MVP in each of his three Super Bowl titles. His off-field game is also elite.
Mahomes has the deepest and richest endorsement portfolio in the sport. He boasts more than a dozen partners, including Adidas, BOSS, Oakley, State Farm and T-Mobile. He also invested in his local sports teams with minority ownership stakes in MLB’s Royals, MLS’ Sporting KC and NWSL’s KC Current. Last year, he added a stake in F1 team Alpine to his sports holdings, investing alongside teammate Travis Kelce and golfer Rory McIlroy.
The quarterback’s latest business venture is a ready-to-drink iced coffee brand, Throne Sport Coffee, that he launched this spring with beverage industry veteran Michael Fedele. Mahomes is the second largest investor after Fedele and called it a “no-brainer” to get involved in a coffee with B vitamins, electrolytes, amino acids and natural caffeine. “I’m always looking at getting my body to be in the best shape possible,” Mahomes told Sportico in May. Mahomes is also an investor in recovery tool Hyperice and health tracker Whoop.
Mahomes’ estimated $27 million in off-field earnings include a group licensing and marketing payout from the NFL Players Association. Last year, he made $3.6 million to lead 22 players who earned at least $1 million from the NFLPA. Other players with big payments included Jalen Hurts ($2.7 million), Josh Allen ($2.5 million) and Kelce ($2.4 million).
No player’s profile and off-field earnings have soared more over the last 12 months than Kelce, as his relationship with musician Taylor Swift put a global spotlight on him. His licensing income jumped 177%, while his endorsement partners include consumer giants General Mills, Lowe’s and PepsiCo. Kelce will host the game show Are You Smarter Than a Celebrity?—which premieres on Amazon Prime next month.
Kelce’s contract with the Chiefs is worth $17 million this season, and that is roughly the cut the tight end will receive annually after he and his brother Jason signed a deal for their New Heights podcast to be distributed on Wondery, Amazon’s podcast production company. The three-year deal is worth more than $100 million for the podcast, which launched at the start of the 2022 season.
Sportico’s earnings figures include base salaries and bonuses for the 2024 calendar year. 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. Those earnings represent 14% of the $1.1 billion the top 20 is expected to make in 2024. The figures are all before taxes and any agent fees.
