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Millionaire Patrick Mahomes ‘Brags’ About $2.6 Billion Firm’s Arrival in Kansas City & His Part-Ownership in the Franchise

Published 04/16/2024, 9:58 AM EDT

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In a move that’s as flavorful as a Texas-sized Whataburger itself, Kansas City Chiefs quarterback Patrick Mahomes has brought a piece of his Texan heritage to the heartland. As part of the franchise group KMO Burger, Mahomes has opened his first Whataburger location in Kansas City.

This marks a significant milestone in the expansion of the beloved burger chain outside its traditional Southern baseThis venture is not just a business move; it’s a cultural touchdown that resonates with Mahomes’ roots and his love for the brand.

The Chiefs QB’s love for Whataburger

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Patrick Mahomes, a native of Tyler, Texas, and a Texas Tech alumnus, has been vocal about his love for Whataburger. His involvement in bringing the franchise to Kansas City is a testament to his commitment to merging his Texan identity with his adopted home city.

The QB recently ‘bragged’ about this partnership in an exclusive conversation with TIME. As per Time, “Mahomes signed a $500 million contract in 2020 but remains obsessed with Chick-fil-A and snacking on Starbursts. He brags about bringing Whataburger—the Texas-based chain that he pronounces “Waterburger” in his boisterous down-home drawl—to the Kansas City area as a part-owner of eight locations.”

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The quarterback’s venture into the fast-food industry is part of a broader strategy to diversify his portfolio, leveraging his NFL fame and substantial contract earnings into long-term business success. Mahomes is setting up a legacy far beyond the football field, with plans to open 30 Whataburger locations across Kansas and Missouri in the next seven years.

Patrick Mahomes inked a historic $503 million contract extension with the Chiefs in 2020. This wasn’t just a win for him or the team; it was a monumental moment in sports history. As the first half-billion-dollar player in sports, his contract set a new benchmark for athlete compensation.

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Advantages of Mahomes’ massive contract 

Mahomes’ contract, while eye-watering in its headline figure, is structured in a way that provides him with security and flexibility. With $477 million in “guarantee mechanisms” and a no-trade clause, the QB ensured that his financial future is secure, allowing him the freedom to pursue ventures like his Whataburger franchise.

Mahomes has cultivated a diverse and lucrative portfolio of investments and endorsements that underscore his acumen as a savvy businessman. His off-field ventures include ownership stakes in major sports franchises such as the Kansas City Royals, Sporting Kansas City, and the Kansas City Current, showcasing his deep commitment to his adopted city and his understanding of the value of long-term equity in sports. 

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However, his business interests don’t end with sports teams and extends to the food industry. His stake in the Alpine Formula 1 Team marks his foray into the international sports market, further diversifying his investment portfolio. In the field of athlete recovery and performance technology, Mahomes has invested in companies like Whoop and Hyperice, aligning his brand with innovative wellness solutions. 

Endorsements also form a substantial part of Mahomes’ off-field income, with partnerships with brands such as Adidas, Oakley, and State Farm, among others. His recent $10 million endorsement deal with Prime Hydration illustrates his ability to command top dollar in the market. The QB’s strategic approach to endorsements, choosing to represent products he genuinely uses and cares about, has not only increased his wealth but also bolstered his authenticity and appeal to fans.

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Written by:

Ananth Narasimman

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Edited by:

Garima Yadav