The Kansas City Chiefs have once again committed to franchise quarterback Patrick Mahomes, agreeing to a record-setting contract extension that makes him the first player in NFL history with a deal valued at more than $500 million.
The reworked agreement adds two years to Mahomes’ existing contract and keeps him under contract through the 2033 season. The new deal is worth $504.75 million, including $239.05 million in new money, and carries an average annual value of $64 million beginning in 2027 — the highest in league history.
According to reports, the first four years of the extension are fully guaranteed at signing, with contract mechanisms that could ultimately guarantee the entire value of the deal. Incentives and escalators could increase the total value to more than $522 million.
Chiefs Chairman and CEO Clark Hunt praised Mahomes’ impact on and off the field, calling him a generational talent who has helped lead the franchise to multiple championships while becoming one of the most recognizable figures in sports.
Mahomes originally signed a 10-year, $450 million extension in 2020, a deal that reset the quarterback market at the time. The latest restructuring marks another adjustment as the Chiefs continue to invest in their superstar signal-caller.
The three-time Super Bowl champion is currently recovering from knee surgery following injuries suffered late in the 2025 season, but the Chiefs remain confident he will return to lead the team in 2026 and beyond.
Chairman and CEO Clark Hunt on Patrick Mahomes’ extension. pic.twitter.com/i4aSQkI4Z4
— Kansas City Chiefs (@Chiefs) June 10, 2026
