The Kansas City Chiefs have reworked Patrick Mahomes' contract through the 2033 NFL season, giving the quarterback an eight-year package valued at $504.75 million, according to ESPN and Pro Football Rumors.
ESPN reported that the agreement adds two years to Mahomes' previous deal and includes $239.05 million in new money. The first four years are guaranteed at signing, and the full $504.75 million can become guaranteed through contract mechanisms.
Chiefs Keep Mahomes Under Contract Through 2033
Pro Football Rumors reported that Mahomes officially signed the deal after the terms were first reported by ESPN's Adam Schefter and NFL.com's Ian Rapoport. The revised contract gives Kansas City control of its franchise quarterback for eight more seasons.
The deal can reach $522.25 million through incentives and escalators. ESPN also reported that, beginning in 2027, the new money averages $64 million per year, setting a new NFL benchmark for average annual value.
The Chiefs' decision comes after Mahomes suffered torn ACL and LCL injuries on Dec. 14, 2025, and underwent surgery the next day. Kansas City has remained optimistic that he can be ready for Week 1 of the 2026 season, when the Chiefs are scheduled to host the Denver Broncos on Monday Night Football.
Contract Resets Quarterback Market Again
This is the latest major adjustment to a Mahomes contract that first changed the NFL pay scale in 2020, when he signed a 10-year, $450 million extension. ESPN noted that the Chiefs and Mahomes have now reset the quarterback market three times in six years.
Chiefs chair and CEO Clark Hunt said Mahomes has helped lead the franchise to five Super Bowl appearances and three championships, according to ESPN. Coach Andy Reid also praised Mahomes' professionalism as the team moved ahead with the deal during his injury rehab.
For Kansas City, the contract is both a salary-cap and succession statement. The Chiefs are committing to Mahomes beyond the planned 2031 move into a new stadium in Kansas, while keeping their central player tied to the club into his late 30s.