Patrick Mahomes, Chiefs Agree to Contract Restructure Adding Two Years
Quick Look
- Patrick Mahomes and the Kansas City Chiefs have agreed to a contract restructure that adds two years to his deal, extending it through 2033 and increasing his total compensation to over $504 million.
- This move provides financial flexibility for the Chiefs and includes a significant pay raise for Mahomes.
AI-generated summary
Why It Matters
Patrick Mahomes and the Kansas City Chiefs have restructured his contract, adding two years and pushing his total compensation past $504 million. This move follows a trend of other quarterbacks resetting the market and provides the Chiefs with financial flexibility.
The Kansas City Chiefs and their starting quarterback, Patrick Mahomes, have agreed to a restructured contract that adds two years to his deal and pushes his total compensation past a half-billion dollars, according to sources.
Mahomes signed a 10-year, $450m contract in 2020 that set a benchmark not only for the quarterback position but for any NFL player. The latest extension ties the two-time MVP to the Chiefs through the 2033 season, when Mahomes will be 38, and it comes in at $504.75m, with incentives and escalators that could push the value beyond $520m.
The Chiefs and Mahomes regularly rework his contract in the offseason, giving the team the financial flexibility to surround him with enough talent to compete for championships. The latest deal, though, includes a hefty pay increase after recent deals done for other quarterbacks – among them Dak Prescott, Jordan Love, Joe Burrow and Josh Allen – had reset the QB market.
Prescott’s four-year deal included a league-leading average of $60m per year. Mahomes will average $63.1m.
Mahomes underwent season-ending surgery last December after tearing ligaments in his left knee in the waning minutes of a loss to the Chargers. He has spent the entire offseason rehabbing the injury in Kansas City, and he has been on the field for the entirety of the Chiefs’ offseason program, which concludes Thursday with the final day of their mandatory three-day minicamp.
Mahomes has won three Super Bowls with the Chiefs and is a two-time league MVP.
What to Watch
AI outlook — possibilities, not facts
The Chiefs will continue to be strong contenders for Super Bowl championships with Mahomes under contract.
Very likely · Long term
Other elite NFL quarterbacks will seek similar contract extensions and pay raises.
Likely · Short term
Open Questions
- What are the specific details of the incentives and escalators that could push the value beyond $520 million?
- How will this new contract structure impact the Chiefs' ability to sign other key players?
- Will Mahomes' performance in the upcoming seasons justify the increased average annual value?
