Patrick Mahomes signed a two-year contract extension with the Kansas City Chiefs on June 10, 2026, raising the total deal value to $504.75 million and keeping him with the team through the 2033 season [1, 2, 3, 4]. The new contract adds $239.05 million in new money beginning in 2027 [3, 5, 4].
The extension makes Mahomes the highest-paid player in NFL history by average annual salary, with an average of approximately $63 to $64 million per year from 2027 onward [1, 2, 3, 5, 4]. This surpasses the previous record set by Dallas Cowboys quarterback Dak Prescott's $60 million per year deal in 2024 [1, 2, 4]. Including incentives and escalators, the contract could reach a ceiling of $522.25 million [2, 3, 4].
Mahomes was originally signed to a 10-year, $450 million contract in 2020, which was itself among the most lucrative deals ever in the NFL [1, 2, 3, 5, 6]. His rookie contract had been a four-year, $16.4 million deal [3]. Chiefs CEO Clark Hunt called Mahomes "a generational talent and an elite human being," praising the quarterback's leadership on and off the field [1, 3, 4]. Hunt noted Mahomes has led Kansas City to five Super Bowl appearances and three titles in 2020, 2023, and 2024 [1, 2, 3, 6, 4].
Mahomes suffered a season-ending ACL and LCL injury to his left knee in December 2025 but has been practicing in offseason activities—participating in seven-on-seven drills though not yet full-contact 11-on-11 plays [1, 2, 3, 5, 6]. He is expected to be ready to start the Chiefs' Week 1 game against the Denver Broncos on September 14, 2026 [3, 5]. When his contract ends after the 2033 season, Mahomes will be 38 years old [2].
Mahomes expressed excitement about extending his stay in Kansas City, saying, "I'm just so excited to be here for life and to be a part of Chiefs kingdom for even longer. We have so much more to do. Let's go out and do it. Let's go win some more." [1] He described his recovery progress, saying, "The next step will be getting with team, getting under center. We'll have to progress to that, and then it'll be going out there and being live and with the guys, and then eventually you get (to) the game." [5]
The Chiefs' management has negotiated multiple contract market resets with Mahomes throughout his career, with this extension representing the third major adjustment [3].
