Kansas City, Mo. (AP) — Patrick Mahomes will steer the Kansas City Chiefs into the next decade. The two-time MVP finalized a restructured agreement that extends his contract by two years, surpassing a total value of half a billion dollars.
A source familiar with the contract details disclosed this information to The Associated Press, preferring to stay anonymous due to confidentiality regarding the Chiefs’ financial disclosures. Following the agreement, the Chiefs shared a social media post featuring Mahomes signing the extension.
Mahomes initially inked a 10-year, $450 million deal in 2020, elevating standards across football. The revised contract binds the MVP to the Chiefs until 2033, rendering him 38 by then. This agreement amounts to $504.75 million, with possible incentives pushing it to $522.25 million.
Chiefs chairman Clark Hunt praised Mahomes: “Over the last decade, Patrick has emerged as a revered sports icon. He has guided our franchise through five Super Bowl appearances, clinched three championships, enhanced the Chiefs brand globally, and exemplified exceptional behavior on and off the field.”
Given Mahomes’ proficiency and character, Hunt conveyed his enthusiasm for Mahomes leading the team in the coming years.
The Chiefs frequently adjust Mahomes’ contract in the offseason, enabling optimal financial strategies to bolster their roster. His recent agreement introduces significant compensation increases, paralleling recent quarterback contracts, including agreements with Dak Prescott, Jordan Love, Joe Burrow, and Josh Allen.
Mahomes’ new earning standing surpasses Prescott’s $60 million annual league impression with an average of $63.1 million each year.
Chris Cabott, CEO of Equity Sports, Mahomes’ agency, commented on social media, “The magic continues.”
Last December, Mahomes underwent season-ending knee surgery after a ligament injury against the Chargers. He spent the offseason rehabilitating in Kansas City, participating fully in the Chiefs’ offseason regimen, concluding with the final day of mandatory minicamp.
Chiefs coach Andy Reid expressed optimism concerning Mahomes’ recovery during early sessions, emphasizing the importance of Mahomes maintaining practice timing with receivers.
Despite the injury, Mahomes prioritized readiness for the upcoming season’s commencement.
Chiefs’ preseason starts against the Rams on Aug 15, with the regular season kicking off on Sept 14 against AFC West champion Denver at Arrowhead Stadium.
Mahomes declared, “I want to be out there with my team. Although there’s time ahead, my task remains executing daily improvements. Setting check-points has helped progress, and now I must sustain this pace.”
Since taking over as starter in 2018, Mahomes has rewritten records, achieving nearly 36,000 yards, six Pro Bowl appearances, and winning three Super Bowl titles from five chances.
Following a distressing 6-11 season last year, Mahomes missed the final games due to injury as the Chiefs prepared for future contests.
Mahomes emphasized his aspirational drive, “As a competitor and player, my ambition is to be present. While predicting outcomes isn’t possible, maintaining daily excellence is my strategy to prepare for Week 1.”