The Kansas City Chiefs and their star quarterback, Patrick Mahomes, have come to terms on a restructured contract that adds two more years to his existing agreement. This new deal pushes his total compensation beyond a half-billion dollars, according to someone familiar with the details who spoke to The Associated Press under anonymity. Both ESPN and NFL Network have verified the news.
Mahomes had originally signed a 10-year, $450 million contract back in 2020. This contract was significant, setting a precedent not only for quarterbacks but for all football players. The updated agreement now ties Mahomes to the Chiefs until the 2033 season, when he will be 38 years old. The new contract is valued at $504.75 million, with incentives that could elevate it to $522.25 million.
“The magic continues,” wrote Equity Sports, Mahomes’ agency, along with its CEO Chris Cabott, on social media.
Regular adjustments to Mahomes’ contract are common for the Chiefs, allowing them financial leeway to build a competitive team. The latest contract includes a substantial pay increase in light of recent deals for other quarterbacks such as Dak Prescott, Jordan Love, Joe Burrow, and Josh Allen, which have redefined the QB market. Prescott’s contract, for instance, previously boasted a $60 million yearly average, but Mahomes will now average $63.1 million annually.
Last December, Mahomes underwent surgery to address torn ligaments in his left knee. He dedicated the offseason to recovery in Kansas City and participated in the Chiefs’ entire offseason program, which concludes with their mandatory minicamp.
Chiefs coach Andy Reid expressed confidence in Mahomes’ efforts, stating, “I like what I’ve seen. He’s working hard. It’s good for him…getting out there and throwing. It’s good rehab as he continues to rehab, so he keeps the feel with the wide receivers.” Reid emphasized the importance of maintaining timing and consistency even amid recovery.
Mahomes has been determined to be ready for the start of the coming season. He shared, “I want to be out there with my guys…but I know that’s still a long ways away. We’ve set these checkpoints and these goals of where I want to be at, and I’ve gotten to those.”
Ever since Mahomes became the Chiefs’ starter in 2018, he has been setting records. He has thrown for nearly 36,000 yards, achieved six Pro Bowl selections, and claimed three Super Bowl titles in five appearances. The Chiefs had previously reached three consecutive Super Bowls before finishing with a 6-11 record last season after Mahomes was placed on injured reserve.
In anticipation of the next season, Mahomes remains focused. “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…the goal at the end is to be ready and to be able to go out there and play with the guys Week 1.”