By Blessing Nweke
The Kansas City Chiefs and star quarterback Patrick Mahomes have agreed to a restructured contract extension worth more than half a billion dollars, further cementing Mahomes’ long-term future with the franchise.
According to a person familiar with the agreement who spoke to The Associated Press on condition of anonymity, the new deal adds two years to Mahomes’ existing contract and keeps him under contract through the 2033 NFL season. ESPN and NFL Network also confirmed the agreement.
Mahomes originally signed a landmark 10-year, $450 million contract in 2020. Under the revised terms, the contract is now valued at $504.75 million, with incentives and escalators that could increase the total worth to $522.25 million. The deal raises his average annual salary to $63.1 million, surpassing recent quarterback contracts and setting a new benchmark across the league.
His agency, Equity Sports, celebrated the agreement on social media, posting: “The magic continues.”
The restructuring comes as the Chiefs continue their practice of adjusting Mahomes’ contract to create salary-cap flexibility while keeping a championship-caliber roster around their franchise player. The extension also reflects the changing quarterback market following lucrative deals signed by Dak Prescott, Jordan Love, Joe Burrow and Josh Allen.
Mahomes, a two-time NFL MVP and three-time Super Bowl champion, is recovering from season-ending knee surgery after suffering torn ligaments late last season. Chiefs coach Andy Reid said the quarterback has impressed during rehabilitation and offseason workouts.
The Chiefs open their regular season on Sept. 14 against AFC West rival Denver Broncos. Mahomes said his primary focus remains returning fully healthy and being ready to lead Kansas City in Week 1 after the club’s disappointing 6-11 finish last season.
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