Record deal: The Chiefs are adding two years to Patrick Mahomes’ contract, tying him to Kansas City through the 2033 season at a value of $504.75 million, making it the first NFL deal valued at over a half-billion dollars, per @RapSheet and me.
Equity Sports CEO Chris Cabott, and Chiefs GM Brett Veach and his staff, put the finishing touches on the landmark agreement today.
The new money on Patrick Mahomes’ deal is worth $239.05 million, with the total value now at $504.75 million from 2026-33, with the first four years being guaranteed at signing. All $504.75 million becomes guaranteed through contract mechanisms.
Mahomes can earn up to $522.25 through incentives and escalators. Beginning in 2027, when the new money begins, the deal averages $64M per year, setting a new NFL record for average annual value.