Chiefs extend Mahomes to historic $504.75 million deal

The Kansas City Chiefs have reworked and extended quarterback Patrick Mahomes’ contract by two seasons, bringing the total value of the agreement to $504.75 million. The deal, which runs through the 2033 season, makes Mahomes the first player in NFL history to secure a contract worth over half a billion dollars. The new financial terms are set to take effect in 2027.

According to CBS Sports NFL insider Jonathan Jones, the extension adds $239.05 million in new money to Mahomes’ previous 10-year, $450 million deal signed in 2020. Under the revised structure, Mahomes’ average annual salary is $64 million, the highest in the league. This figure places him back atop the league in that specific metric, reinforcing his status as the league’s highest-paid player.

The extension follows a challenging 2025 season for Mahomes, who suffered a torn ACL and LCL. During that period, he was sacked a career-high 2.4 times per game and completed a career-low 41.9% of his passes when pressured. The Chiefs hope the return of Eric Bieniemy as offensive coordinator will help address offensive line issues and improve Mahomes’ protection in 2026 and beyond.

In terms of total contract value, only New York Mets outfielder Juan Soto, with a $765 million deal, and Los Angeles Dodgers designated hitter and pitcher Shohei Ohtani, with a $700 million contract, hold higher values in North American professional sports. Mahomes’ new agreement, however, remains unique within the NFL for crossing the $500 million threshold.

Mahomes, who turned 30 in September, holds the record for the most regular-season wins (95) and playoff wins (17) by a quarterback aged 30 or younger. Over the eight seasons from 2018 to 2025, the Chiefs recorded 111 wins, including the postseason, the second-most in an eight-season span in NFL history, trailing only Tom Brady’s 112 victories with the New England Patriots and Tampa Bay Buccaneers between 2014 and 2021.