The Kansas City Chiefs and quarterback Patrick Mahomes have reached an agreement on a restructured contract. This deal extends Mahomes’s tenure with the Chiefs by two years, increasing his total compensation to over half a billion dollars. This information was revealed to The Associated Press by a source familiar with the terms under the condition of anonymity, as the Chiefs typically do not publicize financial details of player contracts. ESPN and NFL Network confirmed the agreement.
In 2020, Mahomes signed an unprecedented 10-year, $450 million contract, setting a new standard for not only quarterbacks but also for any football player. The latest extension secures the two-time MVP with the Chiefs through the 2033 season. Mahomes, who will be 38 at the conclusion of the contract, will earn $504.75 million, with potential incentives and escalators raising that figure to $522.25 million. Chris Cabott, CEO of Mahomes’s agency, Equity Sports, expressed excitement for the deal on social media, stating, “The magic continues.”
The Chiefs and Mahomes frequently adjust his contract during the offseason to provide the team with the financial flexibility needed to sign additional talent capable of winning championships. The recent agreement includes a significant salary increase in light of recent quarterback contracts such as those of Dak Prescott, Jordan Love, Joe Burrow, and Josh Allen, which have redefined the QB market. Prescott’s four-year deal averages $60 million annually, whereas Mahomes will now average $63.1 million.
Last December, Mahomes underwent surgery after tearing ligaments in his left knee during a game against the Chargers. He spent the offseason in Kansas City, focusing on rehabilitation and attending the Chiefs’ offseason program, which concluded with a three-day mandatory minicamp. Chiefs coach Andy Reid commented on Mahomes’s progress, noting that “he’s working hard” and emphasizing the importance of participation in practice to maintain synergy with receivers and improve timing.
Mahomes has consistently expressed his determination to be ready for the start of the new season. The Chiefs’ preseason game against the Rams is set for August 15, with their regular season kicking off on September 14 against the AFC West champions, the Denver Broncos, in a Monday night match at Arrowhead Stadium.
Having started his journey as the Chiefs’ starting quarterback in 2018, Mahomes has achieved numerous accolades, including nearly 36,000 passing yards, six Pro Bowl selections, and three Super Bowl championships in five appearances. After reaching three consecutive Super Bowls, the Chiefs experienced a 6-11 record last season. Mahomes was on injured reserve for the final three games, all resulting in losses, as the team refocused on the upcoming season.
Mahomes stated, “As a competitor and as a football player, I want to be there. I can’t predict the future. All I can do is be great today and then continue to be great tomorrow. My focus remains on preparing and playing with my team in Week 1.”