On Monday afternoon, the Kansas City Chiefs re-worked the contract of Patrick Mahomes, making him the highest-paid quarterback in the NFL. The deal will average $52.5M through the 2026 season.
On Sunday, Patrick Mahomes defeated the Jacksonville Jaguars 17-9 on his 28th birthday. A day later, the Kansas City Chiefs restructured his annual pay to $52.5 per season through 2026. He is still under contract through 2031, so there’s no panic he could be a free agent in four years.
The deal as we’ve been told is as follows:
• $208.1M from 2023-26, Beating Lamar Jackson by $100K
• $52.5M Per Year Through 2026 Season
• $208.1M Injury guarantee
• $133.7M full guarantee
• $20.57M signing bonus
In addition, the Chiefs will get $2.5M in cap relief this season to add a veteran to the roster. Kansas City was hoping to add Defensive End, Carlos Dunlap at some point, but were cap stretched to get that done after Chris Jones re-worked his 2023 contract.
The restructured contract comes just two weeks after the Bengals gave Joe Burrow one of the richest contracts for a quarterback in the NFL. The Mahomes contract surpasses the annual payout by $100,00 that Lamar Jackson signed in the spring.
Chairman Clark Hunt told reporters in training camp, that the clubs’ intention was to work out a new contract compensation for Mahomes at some point. That time frame sped up once the team came to terms with Jones.
Based on the current landscape of the NFL quarterback contracts recently signed since Mahomes agreed to his extension three years ago, it wasn’t a good look for lesser starters, who didn’t have the MVP or Super Bowl hardware in the trophy case to earn top coin.
Well, that changed on Monday for Mahomes and the Chiefs.
For more news on the Mahomes contract, stay tuned to ChiefsBlitz.com or check out the latest episode of our Podcast on YouTube Below.