The Chiefs are adding two years to Patrick Mahomes’ contract in a revamp that keeps the quarterback with the team through 2033, worth a total of $504.75 million. The deal becomes the NFL’s first to exceed half a billion dollars, according to sources.
Equity Sports CEO Chris Cabott and general manager Brett Veach finalized the historic agreement this Wednesday (10).
The new money injected amounts to US$239.05 million. The total value of the contract, from 2026 to 2033, has the first four years guaranteed upon signing. The entire amount of US$504.75 million is guaranteed by contractual mechanisms.
With incentives and rosters, Mahomes could receive up to $522.25 million. As of 2027, the average annual new money will reach $64 million — a league record.
This is the third time in six years that the Chiefs and Mahomes have reset the quarterback market. The franchise, led by Clark Hunt and the Hunt family, has already committed $689.05 million in new money to the player between 2022 and 2033, with the aim of extending one of the NFL’s greatest dynasties.
“Over the past ten years, Patrick has become one of the most iconic figures in sports,” said Clark Hunt, chairman and CEO of the Chiefs. “He has led the team to five Super Bowls and three titles, shaped the franchise’s brand and is a role model in the community. We are excited that he will continue to lead the team.”
Mahomes suffered a torn ACL and PCL on December 14, 2025 and underwent surgery the next day. The team remains optimistic that he will be ready for Week 1 against the Denver Broncos on Monday Night Football.
Mahomes’ first contract, in 2017, was for four years and $16.4 million. In 2020, he signed a ten-year, $450 million deal that has already paid the quarterback more than $200 million. Now, the Chiefs are adjusting the bond again to align with the current QB market.