"I didn't look into him, obviously, as much as I should have," the 49ers coach said during Tuesday's Super Bowl LIV media session at the Hyatt Regency in Miami.
Reporters laughed as Shanahan went on to explain why the reigning MVP, whom he'll face Sunday when the 49ers play the Chiefs, didn't have his full attention three years ago.
If you need a two-word summary of that explanation, here it is:
Kirk Cousins.
"I think it's well documented the relationship I had with Kirk and being in Washington and everything," Shanahan said. "I felt very confident that he wasn't going to stay there [beyond 2017]. So anytime you go into a season knowing that a franchise quarterback is going to be available the next year, it made me a lot more picky for what we were looking at."
The 49ers had the second pick. They traded it to Chicago, moving down to take underachieving pass rusher Solomon Thomas after the Bears whiffed on Mitch Trubisky.
Seven picks later, Reid and the Chiefs pounced, moving up from No. 27 while throwing in a third-round pick and a first-rounder the next year.
"We definitely looked into [Mahomes] and studied all his tape," said Shanahan, who also interviewed Mahomes at the combine. "He was just a freak. He could make any throw. Had the ability to do anything."