Patrick Mahomes new contract agreement: His salary and record-breaking compensation through 2026
Patrick Mahomes has restructured his contract with the Kansas City Chiefs. We take a look at just how much he will earn and what it all means.
Kansas City Chiefs star quarterback Patrick Mahomes has played in three Super Bowls in the last four years and is one of the favorites to make a repeat appearance this season. The 28-year-old has also led the team to five consecutive AFC Championship games since he became the starter.
News that the Cincinnati Bengals had signed a new five-year, $275 million deal with their starter, and Mahomes’ chief AFC competitor, Joe Burrow had barely filtered through the league when the Chiefs announced that they had restructured their own deal with Mahomes. Here is a look at the details, and be sure that it is within these that the devil in fact resides.
A half-billion dollar deal
Certain that they were onto a winner, the Chiefs signed a 10-year, $450 million contract extension back in 2020, which at that time was the the biggest-ever in the history of the NFL, and the third largest in the world of sports.
In total value, Mahomes trails Lionel Messi, whom soccer club F.C. Barcelona once signed to a 4-year, $674 million agreement, and Cristian Ronaldo, whom the Al-Nassr soccer team paid $536 million.
Salary plus endorsements
Mahomes was raking in some $45 million per year as Chiefs quarterback. But the new deal for Burrow saw that annual average value topped to the tune of $55 million for the Bengal signal caller. This would never do for Mahomes, and so his deal was restructured to fully guarantee $210.6 million over the next four seasons, shooting Mahomes’ AAV to $70.2 million per year and back to the top of the pile.
Nine more years
With Mahomes’ long-term contract in place, Kansas City fans need not worry that Mahomes is leaving anytime soon. His contract runs out in 2032, after which he becomes a free agent. But before that, in 2026, when this restructure ends, there will be a renegotiation. It is unthinkable that the numbers won’t continue to climb, and by quite a margin it would seem, potentially making things tight for the organization’s ability to pick up or hang onto quality players to surround Mahomes with.