Pro Football Rumors
6:21pm: Hours after the announcement hit the waves, Mahomes has officially put pen to paper on his new deal. With the record-setting deal finalized, the three-time Super Bowl MVP becomes the only active NFL player whose contract expires in another decade.
3:34pm: Six summers ago, the Chiefs and Patrick Mahomes agreed on an unrivaled extension that ran into the 2030s. The superstar’s lengthy contract benefited the Chiefs, and other passers’ salaries began to dwarf his.
The Chiefs agreed to a reworked deal in fall 2023 but did not remove any years from the mammoth pact. The parties have now agreed to add more time on this deal, according to ESPN’s Adam Schefter and NFL.com’s Ian Rapoport. Kansas City will now have Mahomes signed through the 2033 season at $504.75MM. That is the total value of the new deal, which will add two seasons to Mahomes’ term.
That whopping number covers eight seasons in total, representing a seismic adjustment to the NFL’s longest-term contract. In terms of new money, Mahomes will receive $239.1MM, per Schefter and Rapoport. The first four years of the three-time Super Bowl MVP’s deal are guaranteed at signing, representing tremendous confidence the quarterback will return to his stratospheric heights after suffering ACL and LCL tears last December.
This does not mean the Chiefs are adding $239.1MM over the 2032 and ’33 seasons, as Pro Football Talk’s Mike Florio points out, but the team will give the all-time great a significant raise over the existing years of his deal. In exchange, Mahomes will give the Chiefs two more years of control.
The 2033 season would be Mahomes’ age-38 campaign. That $239MM number will mark a raise throughout the eight-year contract’s life, and it represents a record-setting AAV bump for the current game’s most accomplished quarterback.
The new guarantees probably represent the most notable component of this agreement. Aside from first- or early-second-round rookie contracts and the outlier Deshaun Watson deal, teams do not authorize four years of fully guaranteed money. The Chiefs are doing so, with Schefter and Rapoport adding guarantee mechanisms — which were used in the team’s initial Mahomes extension — are present to cover the 2030s part of this accord.
While plenty of details are yet to emerge, the eight-year package worth $504.75MM comes out to more than $63MM per year. We will wait to see how this is structured, but that blows past Dak Prescott‘s previous high-water mark — set in September 2024. The Cowboys have Prescott signed to a four-year, $240MM extension, one the QB secured thanks to historic leverage. Mahomes opted for a team-friendlier deal in 2020, and it helped the Chiefs retain Chris Jones on multiple extensions — to go with other roster-building advantages. The organization is rewarding the 10th-year quarterback, and it will be interesting to see how this contract breaks down in terms of cap hits.
When Mahomes agreed to his 10-year Kansas City extension (worth $450MM) in July 2020, Russell Wilson‘s $35MM-per-year Seahawks pact had resided atop the...
