Patrick Mahomes has agreed to a contract extension with the Kansas City Chiefs that keeps him with the franchise through the 2033 season, according to reports from ESPN’s Adam Schefter and NFL Network’s Ian Rapoport. The deal, which adds $239.05 million in new money, brings the total value of his contract to a record $504.75 million, making him the first player in NFL history to sign a deal worth more than half a billion dollars.
How Does the Mahomes Contract Compare to NFL History?
The extension cements Mahomes as the highest-earning player in league history, with total career earnings projected to exceed $730 million by 2033, per Spotrac data. This figure eclipses the current benchmark held by Los Angeles Rams quarterback Matthew Stafford, who has earned $408 million over his career, according to Spotrac. While Mahomes signed a 10-year, $450 million deal in 2020—a record for all sports at the time—the new extension pushes his annual average salary to $64 million beginning in 2027, as reported by Schefter. This surpasses the $60 million annual average currently held by Dallas Cowboys quarterback Dak Prescott.
Mahomes is currently the only active NFL player signed through the 2033 season. Only one other player, Seattle Seahawks wide receiver Jaxon Smith-Njigba, is under contract beyond 2030, according to Spotrac.
What Are the Financial Terms and Guarantees?
The structure of the deal includes a mix of guaranteed and incentive-based earnings. According to Schefter, the first four years of the extension are fully guaranteed at signing. The remaining balance of the contract relies on specific mechanisms to become guaranteed over time. When factoring in the new money offered from 2022 through 2033, the total value reaches $689.05 million, per reports from Schefter and Rapoport. These financial commitments ensure Mahomes remains the focal point of the Chiefs’ long-term salary cap planning.
How Does the Injury Timeline Affect the Team?
The contract news follows an abbreviated 2025 season for Mahomes, which ended prematurely due to left knee injuries. Despite the recovery process, there is optimism regarding his availability for the upcoming season. ESPN’s Nate Taylor reports that Mahomes may participate in 11-on-11 drills when Chiefs training camp opens next month. The team’s commitment to this long-term deal suggests confidence in his physical recovery and his capacity to perform through his age-38 season in 2033.
When tracking NFL salary cap space, always distinguish between “total contract value” and “guaranteed money.” While record-breaking totals grab headlines, the guaranteed portions are what dictate a team’s actual financial flexibility and risk.
Frequently Asked Questions
- What is the total value of Patrick Mahomes’ new contract?
The total contract value from 2026 to 2033 is $504.75 million, which can reach $522.25 million with incentives. - When does Mahomes’ new annual salary kick in?
According to Schefter, the new annual average of $64 million begins ahead of the 2027 season. - Is Mahomes the only player signed through 2033?
Yes, according to Spotrac, he is the only NFL player currently under contract through the 2033 season.
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