KANSAS CITY, Mo. — The Kansas City Chiefs and Patrick Mahomes have reportedly agreed to a contract extension that will keep the superstar quarterback in the red, gold and white through the 2033 season.
ESPN's Adam Schefter reports Mahomes' contract is now valued at $504.75 million, and he can earn up to $522.25 million through incentives, making it the first NFL deal to be worth over a half-billion dollars.
It's a good day in Chiefs Kingdom ✍️ @PatrickMahomes pic.twitter.com/7tVgepOA6M
— Kansas City Chiefs (@Chiefs) June 10, 2026
All $504.75 million becomes guaranteed through contract mechanisms, according to reports.
"Over the last decade, Patrick has become one of the most iconic, beloved sports figures of all time," Chiefs Chairman and CEO Clark Hunt said Wednesday on social media. "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."
Chairman and CEO Clark Hunt on Patrick Mahomes’ extension. pic.twitter.com/i4aSQkI4Z4
— Kansas City Chiefs (@Chiefs) June 10, 2026
The new money on Patrick Mahomes’ deal is reportedly worth $239.05 million.
The deal will average $64 million per year once the new money begins rolling in starting in 2027. That average value will set a new NFL record.
Shortly after Schefter broke the news of Mahomes' contract extension, the Chiefs took to social media, saying, "He's our QB1 and you can't have him."
He's our QB1 and you can't have him. @PatrickMahomes pic.twitter.com/YoATBlfBhg
— Kansas City Chiefs (@Chiefs) June 10, 2026
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