According to a report from NFL Media on Monday, Patrick Mahomes, the two-time MVP of the Kansas City Chiefs, has struck an agreement on a restructured contract that aligns the average yearly worth of his contract with the wages of the highest-paid quarterbacks.
Mahomes will receive the biggest amount ever for a player over the course of four years, $210.6 million, according to this restructuring (2023–2026). He could potentially earn up to $218.6 million by the end of his reworked contract in 2026, claims NFL Media.
Mahomes signed a historic 10-year deal with the Chiefs in 2020. The deal had an initial value of $477 million and an extra $26 million in bonuses, which could have brought the total to $503 million. Although this agreement was novel at the time, seven other quarterbacks have subsequently signed deals with higher average annual values than Mahomes. Notably, just this past offseason, Lamar Jackson, Justin Herbert, Jalen Hurts, and Joe Burrow all signed record extensions.
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Since the start of his 2020 contract, Mahomes has been guaranteed a record $273 million, according to the most recent extension reports. After the 2026 season, Mahomes and the Chiefs are expected to reevaluate the quarterback’s contract status, effectively turning it into a four-year deal.
Mahomes has led one of the most imposing five-year runs in recent quarterback history since assuming the reins as the Chiefs’ starter in 2018. He joined an elite group of NFL players who have thrown for 50 touchdowns and 5,000 yards in a single season when he won the MVP award in his first season as a starter.
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Kansas City has routinely served as the AFC Championship Game’s host city under Mahomes’ reign. After losing to New England in 2018, Mahomes won the AFC championship game against San Francisco in 2019 to win his first Super Bowl. He obtained his record contract extension in July 2020, just five months later.
