Chiefs and Mahomes Finalise $504.75 Million Contract Extension Through 2033

The Kansas City Chiefs have agreed to a reworked contract with quarterback Patrick Mahomes, extending his tenure through the 2033 season with a total value of $504.75 million. The agreement, which adds two years to his existing deal, includes $239.05 million in new money and establishes a new NFL record for average annual value at $64 million per year, effective from 2027.

The landmark deal was finalised by Chiefs general manager Brett Veach and Equity Sports CEO Chris Cabott. According to the terms, the first four years of the new money are guaranteed at signing, and all $504.75 million becomes guaranteed through specific contract mechanisms. Potential incentives and escalators could raise the total value to $522.25 million.

Chiefs chairman and CEO Clark Hunt stated that the franchise has committed $689.05 million in new money to Mahomes from 2022 to 2033. Hunt described Mahomes as a generational talent and an elite human being, noting his instrumental role in shaping the Chiefs brand and leading the franchise to five Super Bowl appearances and three championships.

This marks the third time in six years that the Chiefs and Mahomes have reset the quarterback market, with all three contracts led by Cabott and Veach. Mahomes’ initial rookie contract in 2017 was a four-year, $16.4 million deal, followed by a 10-year, $450 million agreement in 2020, of which he has already earned well over $200 million.

The negotiation occurred while Mahomes was recovering from a season-ending torn ACL and LCL suffered on 14 December 2025, with surgery performed the following day. The Chiefs remain optimistic that he will be ready for Week 1, when the team hosts the Denver Broncos on Monday Night Football.