Patrick Mahomes contract details: Chiefs QB gets $239 million in new money

Patrick Mahomes contract details: Chiefs QB gets $239 million in new money originally appeared on The Sporting News.
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The Kansas City Chiefs are rewarding their face of the franchise, quarterback Patrick Mahomes, with some new money.

Back in 2020, Mahomes signed a mega 10-year extension with the Chiefs worth $450 million, and though the 2-time MVP quarterback still has a few years left on the deal, Kansas City is wasting no time in making sure he’s locked down for the foreseeable future.

According to ESPN’s Adam Schefter and Ian Rapoport, the Chiefs are adding two more years to Mahomes’ contract, and giving him a pay raise at the same time.

Patrick Mahomes contract details

Per Schefter and Rapoport, Mahomes’ new reworked deal consists of $239.05 million in new money, meaning the future Hall of Famer is getting $504.75 million from this season until 2033.

This new money won’t kick in till next season, where Mahomes will begin making $64 million annually.

“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,” Schefter and Rapoport wrote. “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.”