In 2022, the Kansas City Chiefs gave Patrick Mahomes a record-breaking contract, making him the highest-paid quarterback in the NFL. On Wednesday, the team put all their chips in the middle of the table and extended their generational quarterback through the 2033 season, making it the largest single-player investment in NFL history.
The Kansas City Chiefs aren’t messing around anymore. The days of penny-pinching, playoff disappointments, and fifty years between Super Bowl appearances have changed. On Wednesday, the Chiefs extended the contract for Patrick Mahomes that eliminated the 2032 and 2033 voided years of the deal he signed in 2020 that gave him financial security for the remainder of his life. The new deal now adds $239.05 million to his previous contract.
Per Adam Schefter, this deal will average $64 million per season beginning in 2027 and be guaranteed through the 2031 season. With incentives, the two-year extension increases the contract value to an NFL record $504.75 million deal. However, the deal signed on Wednesday allows Mahomes to earn up to $522.25 million, including escalators and incentives, when it expires after the 2023 NFL season. The deal was negotiated by Equity Sports CEO Chris Cabott.
With Mahomes under center, the Chiefs have been to five Super Bowls, winning three and reshaping the team’s present and future. Mahomes, who is coming off the worst injury of his NFL career, has shown the franchise he’s willing to do whatever it takes to lead this team. For that, he was rewarded with one of the biggest contracts in all of sports.
This contract continues to show the massive commitment that Chairman and CEO Clark Hunt has made in Mahomes. With a new stadium headed to Kansas in four years, the Hunt family continues to reinvest in the beloved franchise founded by the late Lamar Hunt.
Paramount to the Mahomes NFL record-breaking contract is the fact that the Chiefs have placed a significant premium on their starting players. In fact, the Chiefs have locked in on keeping the core of their team together, have supplemented that investment with younger draft picks, and are still paying Mahomes top dollar.
With a massive $85.2 million cap hit in 2027, this was always the target year to extend the deal he signed in 2020. Mahomes already had generational wealth, but with marketing deals and endorsements, it’s quite likely that when Mahomes retires, he’ll have earned well over $1 Billion dollars as a starting quarterback in the NFL.
Mahomes will be 37 when the deal expires, and who knows how long he’ll play in the NFL, but as Chiefs fans know firsthand, their quarterback has his sights on more Super Bowls and chasing Tom Brady’s record number of wins.
