Might be...but he would have got his upfront bonus already.
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Though Mahomes' contract features $141.428 million in guarantees over 12 years, he was guaranteed only $63.082 million at signing.
That $63.082 million includes Mahomes' signing bonus, his base salary for the next three years and his 2021 and 2022 roster bonuses. Which means Mahomes' contract essentially will be a year-to-year deal starting in 2023.
It doesn't matter. Even Mahomes contract from 2023 is year to year with exit clause for both team and player. It is 65M guaranteed money he is getting in the next two years.