The National Football League (NFL) is one of the most popular and profitable professional sports leagues in the world. With millions of fans tuning in to watch games, there is no doubt that the NFL is a major force in the sports industry. And with such popularity and success comes big money – not just for the league itself, but also for its players.
In this article, we will take a closer look at the highest paid NFL players and how they have earned their salaries. From endorsements to performance on the field, we will explore the various factors that contribute to these players’ massive paychecks. So buckle up and get ready to dive into the world of the highest paid NFL players!
The Evolution of NFL Salaries
Before we dive into the top earners of the NFL, let’s first understand how salaries have evolved in the league. In the early days of the NFL, players were paid significantly less than they are today. In fact, back in 1933, the average salary for an NFL player was only $2,000 per season.
However, with the league’s growing popularity and revenue, player salaries started to increase. In 1975, the minimum salary for an NFL player was $25,000, and by 1994, it had risen to $108,000. Fast forward to 2021, and the minimum salary is now $660,000.
But it’s not just the minimum salary that has increased; the maximum salary has also skyrocketed. In the 1980s and 1990s, the highest paid players were making around $1 million per year. However, in today’s NFL, it’s not uncommon for players to make tens of millions of dollars annually.
So what factors have contributed to this significant increase in salaries? Let’s take a closer look.
Revenue Sharing
One of the main reasons for the increase in NFL salaries is the league’s revenue-sharing system. In the NFL, all 32 teams share a portion of the league’s profits, which includes media rights deals, merchandise sales, and sponsorships.
This revenue sharing helps to create parity among teams and ensures that smaller-market teams can compete with larger ones. It also means that every team has a similar salary cap, which limits how much they can spend on players’ salaries. This system has been praised for its fairness and has helped to keep salaries from getting out of control.
TV Deals
Another major contributor to the rise in NFL salaries is the league’s lucrative TV deals. According to Forbes, the NFL signed a new TV deal in 2021 worth $113 billion over the next 11 years. This deal alone will bring in an average of $110 million per year per team.
The NFL’s popularity also means that advertisers are willing to pay top dollar for commercial spots during games, bringing in even more revenue for the league. This influx of money has allowed teams to offer higher salaries to players, especially those who perform well on the field.
Performance-Based Pay
In addition to their base salaries, NFL players also have the opportunity to earn performance-based pay bonuses. These bonuses are given to players based on playing time and statistics, and they can add up to a significant amount.
For example, in 2020, the highest-paid player in the NFL, Patrick Mahomes, earned an additional $1.25 million in performance-based pay. This extra income not only rewards players for their hard work and dedication but also incentivizes them to perform at their best.
The Top 6 Highest Paid NFL Players
Now that we’ve explored the factors that contribute to NFL salaries, let’s take a look at the six highest paid players in the league.
1. Patrick Mahomes – Kansas City Chiefs
Patrick Mahomes is not only the highest-paid player in the NFL but also the highest-paid athlete in all of sports. In 2020, he signed a record-breaking 10-year contract extension worth $450 million. This deal includes an injury guarantee of $141 million and could reach up to $503 million with incentives.
Mahomes has quickly become one of the most beloved players in the league, thanks to his impressive performance on the field. In just three seasons as a starter, he has led the Kansas City Chiefs to two Super Bowl appearances and one win. He has also won numerous awards, including Super Bowl MVP and NFL MVP in 2018.
In addition to his massive salary, Mahomes also earns a significant amount from endorsements. According to Forbes, he made $7.4 million from endorsements in 2020 alone, making him the sixth-highest-earning athlete in terms of endorsements.
2. Dak Prescott – Dallas Cowboys
In March 2021, quarterback Dak Prescott signed a four-year, $160 million contract extension with the Dallas Cowboys. This deal includes a $66 million signing bonus, the highest in NFL history, and an average annual salary of $40 million.
Prescott’s contract negotiations were highly publicized, with many debating whether he was deserving of such a hefty paycheck. However, the Cowboys clearly saw value in Prescott, who has proven to be a valuable asset to the team, leading them to a 13-3 record in his first season as a starter.
Off the field, Prescott has also been successful in endorsements, earning an estimated $10 million in 2020. With his new contract, he is set to make even more from both his salary and endorsements in the coming years.
3. DeShaun Watson – Houston Texans
DeShaun Watson became one of the highest-paid players in the NFL when he signed a four-year, $156 million contract extension with the Houston Texans in September 2020. This deal includes a $27 million signing bonus and an average annual salary of $39 million.
Like Mahomes, Watson’s performance on the field has been outstanding, making him a top player in the league. In 2020, he threw for over 4,800 yards and 33 touchdowns, solidifying his place as one of the best quarterbacks in the NFL.
In addition to his salary, Watson also earns a significant amount from endorsements, with estimated earnings of $5.5 million in 2020. With his new contract, he will undoubtedly become one of the highest-earning athletes in terms of both salary and endorsements.
4. Russell Wilson – Seattle Seahawks
Russell Wilson has been a mainstay at the top of the highest-paid players in the NFL list for several years now. In 2019, he signed a four-year, $140 million contract extension with the Seattle Seahawks, making him the highest-paid player in the league at the time.
Wilson has been a consistent performer for the Seahawks since joining the team in 2012, leading them to two Super Bowl appearances and one win. He has also earned numerous accolades, including being named to the Pro Bowl seven times and being the Walter Payton NFL Man of the Year in 2020.
Off the field, Wilson is also a top earner, making an estimated $10 million from endorsements in 2020. With his impressive track record and popularity, it’s no surprise that he continues to be one of the highest-paid players in the NFL.
5. Ben Roethlisberger – Pittsburgh Steelers
Ben Roethlisberger has been a quarterback for the Pittsburgh Steelers since 2004 and has consistently been among the top earners in the NFL. In 2019, he signed a two-year, $68 million contract extension, making him the second-highest-paid player in the league at the time.
Despite being in his late 30s, Roethlisberger continues to be a top performer for the Steelers, earning two Super Bowl wins and six Pro Bowl selections. He is also well-known for his durability, having only missed significant playing time due to injury twice in his career.
Roethlisberger’s popularity and success have also led to numerous endorsement deals, bringing in an estimated $2 million in 2020. With his new contract set to expire after the 2021 season, it will be interesting to see if he remains among the highest-paid players in the NFL.
6. Aaron Rodgers – Green Bay Packers
Rounding out the list of the top six highest paid NFL players is Aaron Rodgers of the Green Bay Packers. In 2018, he signed a four-year, $134 million contract extension, which included a $57.5 million signing bonus, the largest in NFL history at the time.
Rodgers has been with the Packers since 2005 and has been one of the league’s most dominant quarterbacks, leading the team to a Super Bowl win in 2011 and being named MVP three times. He is also known for his accuracy and ability to make big plays, making him a valuable asset to the team.
In addition to his salary, Rodgers also earns around $8 million per year from endorsements. With his contract set to expire after the 2023 season, it’s likely that he will continue to be among the highest-paid players in the NFL for years to come.
Factors That Contribute to High Salaries in the NFL
Now that we’ve explored the top earners in the NFL, let’s take a closer look at the various factors that contribute to these players’ salaries.
Performance on the Field
One of the most significant factors that contribute to high salaries in the NFL is performance on the field. Players who consistently perform well and help their teams win games are highly valued by their organizations and are often rewarded with lucrative contracts.
For example, Patrick Mahomes’ record-breaking contract was a result of his impressive performance on the field, leading the Chiefs to multiple Super Bowl appearances and being named MVP in 2018. Similarly, Dak Prescott’s new contract was a reward for his success as a starting quarterback for the Cowboys.
Position
In the NFL, certain positions command higher salaries than others. This is because some positions require more skill and are considered more valuable to the team. For example, quarterbacks are generally the highest-paid players in the league, followed by defensive ends and left tackles.
This discrepancy in salaries can be seen in the list of top earners in the NFL, with all six players being quarterbacks. However, other positions such as running backs and wide receivers have also been known to earn significant salaries, especially if they have a high level of skill and production.
Branding and Endorsements
Players who have established themselves as stars in the NFL are also highly sought after by brands and advertisers. These players are often able to secure lucrative endorsement deals, which can add significantly to their overall earnings.
For example, Patrick Mahomes and Dak Prescott both make millions from endorsements alone, thanks to their popularity and success in the league. These deals not only provide additional income for players but also help to elevate their status and increase their marketability.
Market Size
The size of a player’s market also plays a role in their salary. Teams in larger markets, such as New York and Los Angeles, have more revenue-generating opportunities, which means they can offer higher salaries to players.
For instance, Russell Wilson’s contract with the Seattle Seahawks is significantly higher than other quarterbacks’ contracts, despite having similar stats and accomplishments. This can be attributed to the fact that Seattle is a large market, which generates more revenue for the team.
Contract Negotiations
Finally, a player’s salary can also be affected by their contract negotiations. Some players are able to secure higher salaries due to their negotiating skills or having leverage over their teams.
For example, DeShaun Watson’s new contract with the Houston Texans was a result of his holdout and refusal to play for the team unless they met his demands. This led to him being offered a lucrative deal, making him one of the highest-paid players in the NFL.
Conclusion
The NFL has come a long way from its humble beginnings, and with it, player salaries have also evolved significantly. Thanks to the league’s revenue-sharing system, TV deals, and performance-based pay, players can now earn millions of dollars annually.
As we’ve seen from the top earners in the NFL, performance on the field, position, branding and endorsements, market size, and contract negotiations all play a role in determining a player’s salary. And with the popularity of the NFL continuing to grow, it’s safe to say that we will see even higher contracts and bigger paychecks in the years to come.