Patrick Mahomes is staying in Kansas City, and it’s going to cost a record-breaking fortune to keep him there.
The Chiefs and Mahomes have agreed on a contract extension that adds two years to his current deal, according to ESPN’s Adam Schefter and Ian Rapoport. The reworked contract now runs through the 2033 season and is worth $504.75 million in total – making it the first deal in NFL history to crack the $500 million mark.
The Chiefs confirmed the extension but didn’t release specific financial details.
$504.75 million. Let that number sink in.
It’s the third time in six years that Mahomes and Kansas City have sat down and reworked a deal together. He first signed a 10-year, $450 million contract back in 2020, so this latest restructure represents a significant step up even from that already-massive agreement.
The new money added to the deal comes in at $239.05 million, per ESPN, with the first four years guaranteed at signing. That new money kicks in starting in 2027, at which point Mahomes will average $64 million per season – a new NFL record. Right now, Dallas Cowboys quarterback Dak Prescott leads the league at $60 million per year.
The timing is worth noting. Mahomes, 30, tore his ACL in mid-December last season – an injury that cut his year short after he’d thrown for 3,587 yards with 22 touchdowns and 11 interceptions across his ninth season with the team. He’s already had surgery, and Chiefs general manager Brett Veach said last month that Mahomes was “way ahead of schedule” in his recovery. Whether he’ll be fully ready for training camp and the start of the 2026 season remains to be seen.
Kansas City had a rough year without a healthy Mahomes, finishing 6-11 and missing the playoffs for the first time since 2014. That snapped one of the most dominant runs in recent NFL history – three Super Bowl titles and five championship game appearances in six seasons.
By the time this contract expires, Mahomes will be pushing 40. That’s a long way from where he is now – selected 10th overall in the 2017 draft, he’s spent his entire career in Kansas City. Despite the injury and last season’s struggles, the Chiefs clearly believe he’s their guy for the long haul.
The Chiefs open the 2026 regular season against the Denver Broncos on Sept. 14.