Patrick Mahomes, Chiefs reportedly agree to record contract restructure

Patrick Mahomes received a generous (and well-deserved) present the day following his 28th birthday.

The two-time MVP agreed to a restructured deal with the Kansas City Chiefs that will bring the average annual value of his contract closer to what the highest-paid quarterbacks are earning, NFL Media reported Monday. Mahomes will receive $210.6 million over the next four seasons (2023-26), which is the most money ever for a player over a four-year span, NFL Media added in its report. He can reportedly earn up to $218.6 million by the time his restructured agreement ends in 2026. 

Mahomes originally signed a 10-year contract with the Chiefs in 2020 that was worth $477 million and had another $26 million in bonuses, bringing the possible total value to $503 million. The deal was a record-setting contract at the time, but seven other quarterbacks signed deals with higher average annual values than Mahomes since then. Four of those came this past offseason, with Joe Burrow, Justin Herbert, Jalen Hurts and Lamar Jackson all agreeing to record extensions.

With the news of Monday’s extension, Mahomes has been guaranteed an NFL record $273 million since his contract was agreed to in 2020. Mahomes and the Chiefs plan to revisit the quarterback’s contract situation following the 2026 season, essentially making it a four-year deal, according to NFL Media


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