The Kansas City Chiefs are keeping Patrick Mahomes around, and setting a record while doing so.
The NFL team added two years to the 30-year-old quarterback’s contract, extending his stay with the team through 2033 at a value of $504.75 million, the first NFL deal valued at over a half million dollars, via ESPN on Wednesday (June 10).
Equity Sports CEO Chris Cabott, Chiefs GM Brett Veach and his staff put the finishing touches on the landmark agreement, according to ESPN’s Adam Schefter.
How the Patrick Mahomes Deal Breaks Down by Year
From ESPN:
“The new money on the deal is worth $239.05 million, with the total value now at $504.75 million from 2026 through 33, with the first four years being guaranteed at signing. All $504.75 million becomes guaranteed through contract mechanisms. Mahomes can make up to $522.25 through incentives and escalators. Beginning in 2027, when the new money begins, the deal averages $64 million per year, setting a new NFL record for average annual value.”
“Over the last decade Patrick has become one of the most iconic, beloved sports figures of all-time,” said Clark Hunt, the Chiefs’ chairman and CEO in a statement.
“He has helped lead our franchise to five Super Bowl appearances and three championships, he has been instrumental in shaping the Chiefs brand and putting Kansas City on the world stage, and on top of it all he has been an outstanding role model in the community. Patrick is a generational talent and an elite human being, and I’m so excited he will continue to lead our team into the future.”
Earlier this year, the Kansas City Chiefs quarterback underwent surgery after he tore the ACL on his left knee during a game against the Chargers. There was an update at the start of the year.
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