Key facts
- Patrick Mahomes and the Kansas City Chiefs have agreed to a restructured contract.
- The deal extends Mahomes' commitment through the 2033 season.
- The reworked contract is valued at $504.75 million, with potential to reach $522.25 million.
- This extension follows Mahomes' original 10-year, $450 million deal signed in 2020.
- The agreement provides the Chiefs financial flexibility to build a championship-contending team.
Patrick Mahomes and the Kansas City Chiefs have agreed to a restructured contract that extends his deal through the 2033 season, with a total compensation of $504.75 million. This reworked deal adds two years to his previous contract and includes incentives that could push the total value to $522.25 million. The agreement provides the Chiefs with financial flexibility to maintain a competitive roster around their star quarterback.
Mahomes' agency, Equity Sports, confirmed the agreement, stating, "The magic continues." This move comes after other quarterbacks have signed deals that reset the market, prompting the Chiefs to adjust Mahomes' compensation. The team and quarterback have a history of restructuring his contract during the offseason to manage salary cap implications.
Mahomes is currently rehabbing a season-ending knee injury sustained in December but has been participating in the Chiefs' offseason program. He has expressed his goal of being fully ready for the upcoming Week 1 game. Since becoming the starter in 2018, Mahomes has achieved significant milestones, including nearly 36,000 passing yards, six Pro Bowl selections, and three Super Bowl victories.