The deals are getting done quickly for the Kansas City Chiefs as they have secured the services of franchise quarterback Patrick Mahomes with a new contract.
According to ESPN’s Adam Schefter, The reigning NFL MVP agreed to a restructured contract, giving him $210.6 million between 2023 and 2026. The new deal is the most money in NFL history over a four-season span, with compensation for those years now guaranteed.
The deal comes almost two weeks after Cincinnati Bengals quarterback Joe Burrow’s extension. Mahomes initially dropped to eighth among quarterbacks in average annual salary with $45 million and nine more years remaining on the contract he signed in 2020. Mahomes now returns amongst the league’s highest-paid players after this new contract.
The Chiefs and Patrick Mahomes have restructured his agreement, giving him $210.6 million between 2023 and 2026, the most money in NFL history over a four season span. His compensation for those years is now guaranteed. Also, the Chiefs and Mahomes plan to re-visit the agreement… pic.twitter.com/7a2vlt9Si2
— Adam Schefter (@AdamSchefter) September 18, 2023
Last season, Mahomes led the NFL in yards (5,250), touchdowns (41), and touchdown percentage (6.3%), winning his second league MVP and Super Bowl MVP while leading the Chiefs to their second Lombardi Trophy in four years.
The Chiefs and Mahomes are planning to re-visit the agreement again after the 2026 season, posted Schefter after his conversation with Equity Sports CEO Chris Cabott, who negotiated the deal on behalf of Mahomes. The Chiefs recently made a new one-year deal to get All-Pro defensive tackle Chris Jones to end his lengthy holdout as general manager Brett Veach also continued work on restructuring Mahomes’ contract.