National Football League

Did Mahomes Raise The Bar For QBs?

Updated Jul. 17, 2020 12:13 p.m. ET

When the Kansas City Chiefs signed Patrick Mahomes to a historic 10-year extension worth up to $503 million, the rest of the NFL's elite quarterbacks took notice.

Mahomes' new deal surpasses is the largest contract in North American history, surpassing Angels star Mike Trout's 12-year, $426.5 million deal, which he signed in March of last year.

So, what does the record-breaking money mean for the NFL quarterback market?

The Dallas Cowboys have been working tirelessly on getting a deal done with Dak Prescott, and while he recently signed his franchise tender of $31.4 million, both sides are looking to lock in a long-term deal.

Last season, Dak had the best campaign of his 4-year career in Dallas.

He passed for more yards (4,902) than Mahomes (4,031), and his 33 TDs outpaced Mahomes' 26 (although Prescott played 16 games to Mahomes' 14).

Considering Dak's recent success, ESPN's Stephen A. Smith believes Mahomes' deal should help the Cowboys QB out — assuming Dallas sees Prescott as the future.

"On one hand, I definitely think it could elevate his stock just a touch, only from the standpoint that the market is clearly elevated.

"When you hear players talk about the money that's allocated to certain positions and how there's only so much money to go around, it gives the impression that the money isn't there. And what Kansas City is saying to you is, 'It's there for the right player.'"

Yet Mahomes might simply be in a league of his own, both as a brand and as a player.

And if that's the case, his deal shouldn't materially impact Prescott's, Colin Cowherd points out.

Prescott's not the only QB aiming to cash in, as Houston Texans quarterback Deshaun Watson is also gearing up for a new contract. And Watson was paying attention to Mahomes' massive windfall on Monday.

In the past two seasons, the 2-time Pro Bowler has completed 67.8 percent of his passes, good for seventh in the NFL.

Last season, his 34 total touchdowns were second in the league, behind only Lamar Jackson.

However, while the over-$50 million average value of Mahomes' contract is certainly relevant, Watson reportedly isn't interested in the same lengthy deal.

According to PFT's Mike Florio, Watson wants a 3-year extension, so he can sign a second extension at the height of his playing career, after the market has been reset by new QBs entering the league and television rights deals.

And that kind of flexibility could potentially be best for both sides. When it comes to Mahomes, Skip Bayless pointed out the massive deal could spell trouble.

Either way, Mahomes' contract has certainly cast the QB market in a whole new light.

And for now, the Chiefs QB is headed back to work, to make good on his massive payday.