Patrick Mahomes Agrees to New Contract Extension with Kansas City Chiefs

Patrick Mahomes will remain the quarterback for the Kansas City Chiefs for many years. The Chiefs and the two-time MVP reached a restructured deal on Wednesday, extending his contract by two years. This change boosts his total earnings to over half a billion dollars, according to a source familiar with the contract, who asked to remain anonymous because financial details are not public.

The Chiefs shared a photo of Mahomes signing the extension on social media. Initially, Mahomes agreed to a 10-year, $450 million contract in 2020, setting a new standard for both the quarterback position and football players generally. The new extension keeps Mahomes with the Chiefs until the 2033 season, when he will be 38 years old. The contract’s worth stands at $504.75 million, with additional incentives that could raise the value to $522.25 million.

“Over the last decade, Patrick has become one of the most iconic, beloved sports figures of all time,” said Clark Hunt, Chiefs chairman. “He has led our franchise to five Super Bowl appearances and three championships, playing a crucial role in shaping the Chiefs’ brand and putting Kansas City on the world stage. He remains an outstanding role model.”

The Chiefs and Mahomes often revisit his contract during the offseason to ensure financial flexibility for acquiring other talented players. The recent increase in Mahomes’ pay comes after new quarterback deals, like those for Dak Prescott, Jordan Love, Joe Burrow, and Josh Allen, shifted the market. Prescott’s contract had set an average yearly pay at $60 million, but Mahomes now averages $63.1 million annually. “The magic continues,” stated Mahomes’ agency, Equity Sports, through its CEO Chris Cabott.

After sustaining knee ligament injuries last December necessitating surgery, Mahomes dedicated his offseason to rehabilitation in Kansas City. He participated fully in the team’s offseason program, which concluded Thursday with the final day of a mandatory three-day minicamp. Coach Andy Reid previously remarked, “I like what I’ve seen. He’s working hard. Throwing is great rehab and helps maintain timing with wide receivers. He’s pushing hard to stay ready.”

Mahomes has consistently stated his aim is to be ready for the upcoming season’s Week 1. The Chiefs’ first preseason game is against the Rams on August 15, with the regular-season starting against the Denver Broncos on September 14, a Monday night game at Arrowhead Stadium. Mahomes expressed, “I want to be with my guys, but for now, I focus on daily improvements. We have set goals and achieved them. I will keep progressing at the right pace.”

Since becoming the Chiefs’ starter in 2018, Mahomes has consistently broken records. He has amassed nearly 36,000 passing yards, earned six Pro Bowl selections, and won three Super Bowl titles from five appearances in the Championship game. The Chiefs appeared in three consecutive Super Bowls before experiencing a 6-11 record last season. Mahomes spent the final three games of the season on injured reserve, during which the Chiefs focused on preparing for the next season. “As a competitor, I want to play,” Mahomes said. “I can’t predict the future. I focus on being great today and tomorrow, a mindset that has driven me to success, with the ultimate goal of being ready for Week 1.”

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