The NFL quarterback, Patrick Mahomes, just received an unprecedented ten-year contract from the Kansas City Chiefs worth over half-a-billion dollars. Not only does this make Mahomes the highest-paid player in sports, but provides a perfect example of value creation within the free market economy. While the large sum of money he is receiving may seem exorbitant, the return on his investment could be much, much greater. It’s not only Mahomes on-the-field play which earned him this contract, but his overall dedication to his craft off-the-field as well.
- Football players are still extending their contracts even in the middle of a pandemic.
- This contract extension makes Patrick Mahomes, a quarterback, a very rich man.
- Patrick Mahomes has spent his career working hard, and people are rewarding him by spending money on the NFL as entertainment during this time.
“One of the most empowering effects of the free market is that of specialization, and further of value creation.”