KANSAS CITY, Mo. — Kansas City’s star quarterback Patrick Mahomes has reached agreement on a contract restructure that extends his tenure with the franchise by two years and elevates his total pay package beyond half a billion dollars, according to a source with knowledge of the agreement who spoke to The Associated Press on Wednesday.
The source provided details to the AP under the condition of anonymity since Kansas City does not make contract financial details public.
In 2020, Mahomes inked a decade-long $450 million agreement that established new standards not just for signal-callers but across all of professional football. This newest extension keeps the two-time MVP with Kansas City until the 2033 campaign, at which point Mahomes will reach age 38, with the contract valued at $504.75 million including incentives and performance escalators that may drive the total beyond $520 million.
Kansas City and Mahomes routinely adjust his contract during the offseason, providing the franchise with salary cap flexibility needed to build a championship-caliber roster around him. This most recent agreement, however, features a substantial salary boost following recent quarterback contracts — including those for Dak Prescott, Jordan Love, Joe Burrow and Josh Allen — that have elevated the position’s market value.
Prescott’s four-year contract featured a league-high $60 million annual average. Mahomes will now earn $63.1 million per season on average.
Mahomes had season-ending surgery this past December following torn ligaments in his left knee sustained in the closing moments of a defeat to the Chargers. He has dedicated his entire offseason to injury rehabilitation in Kansas City and has participated fully in the team’s offseason activities, which wrap up Thursday with the final session of their required three-day minicamp.
