Patrick Mahomes is already well on his way to becoming the wealthiest NFL player ever in terms of on-field earnings. The two-time league MVP has won two Super Bowls and is consistently one of the best quarterbacks in the league. Despite a rocky start to the season, the Kansas City Chiefs are among the favorites to win another championship.
In 2020, Mahomes earned the largest contract in NFL history after he signed a 10-year deal worth $450 million. Yet, thanks to a rising salary cap and teams realizing the importance of quality quarterback play, several other quarterbacks have surpassed Mahomes in average annual value since he signed his deal.
So, the Chiefs and Mahomes restructured his deal. And once again, it’s a record-setting contract.
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Starting this season and running through 2026, Mahomes will make $210.6 million. It’s the most money in NFL history over a four-year period. Mahomes’s agent, Equity Sports CEO Chris Cabott, said the quarterback and team will plan to revisit the contract in 2026. It currently runs through 2031.
Mahomes had fallen to the eighth-highest-paid quarterback in the league. This summer alone, Lamar Jackson, Jalen Hurts, Justin Herbert, and Joe Burrow all signed new deals that will pay them at least $50 million per season.
With the new deal, Mahomes will make $52.6 million per year. That puts him second among quarterbacks, not too far behind Burrow’s $55 million and just ahead of Herbert’s $52.5 million average annual value.
The Chiefs offense has struggled this season, though they haven’t been at full strength. Kansas City lost 21-20 in the NFL opener against the Detroit Lions with tight end Travis Kelce watching from the sidelines, then looked inconsistent in a 17-9 victory over the Jacksonville Jaguars.
Still, with Mahomes at the helm, the team remains a heavy favorite to win the Super Bowl. Chiefs chairman Clark Hunt has said that “no matter what he makes over his career,” Mahomes will “be underpaid.”
Hunt isn’t wrong — it’s hard to put that kind of value on such an important piece to a team. For now, Mahomes will once again take his place among the NFL’s highest-paid quarterbacks.
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