What Patrick Mahomes' Extension Means for Jimmy Garoppolo and 49ers

If the 49ers want to extend Garoppolo, they'll have to pay him close to what the Chiefs pay Mahomes.

Chiefs quarterback Patrick Mahomes just signed mega contract extension worth more than half a billion dollars.

What does this news mean for Jimmy Garoppolo and the 49ers?

Many members of the media expected the 49ers to give Garoppolo a contract extension this offseason, but they didn't. General manager John Lynch said at the Combine they're not ready to give him one just yet.

I interpreted that to mean the 49ers weren't sold on Garoppolo and still want to see more from him.

But now, when you realize Mahomes contract averages $45 million per season, you understand he just reset the going rate for quarterbacks, and he probably won't be the highest-paid quarterback for long. Next year, some other team probably will pay some other quarterback even more. That happens every year.

So perhaps the 49ers figured out that if they want to extend Garoppolo, they'll have to pay him close to what the Chiefs pay Mahomes. Meaning roughly $40 million per season. Garoppolo's career record is 21-5. Mahomes' record is 24-7. Garoppolo could ask for Mahomes' contract, or close to it.

And unless Garoppolo wins the MVP or the Super Bowl, I highly doubt the 49ers would give him an extension worth $40 million per season -- he hasn't even shown he's worth $27 million per season yet. He still has much to prove.

Meaning Garoppolo could leave the 49ers when his contract expires in 2023. He simply might become too expensive.

And that might be a good thing. The 49ers should not give Garoppolo or any quarterback $40 million per season. Because no quarterback ever should earn more than 13 percent of the salary cap, and that includes Mahomes.

Only one quarterback ever has won a Super Bowl while making more than 13 percent of the cap -- Steve Young in 1994. That was the first season the salary cap existed. Since then, every Super Bowl champion has had a cheaper contract, relative to the cap.

Garoppolo currently makes 12.9 percent of the 49ers cap -- he doesn't need a raise or an extension. And if he wants to stay with the 49ers in 2023, he might have to give them a discount.