The QB contract dominoes were falling everywhere this offseason and completely resetting the market. Over the past few months, four different players have held the title of “thein the NFL” and naturally sent a few players to the roster, including Patrick Mahomes. With a new market, it was only a matter of time before the reigning NFL and Super Bowl MVP and the Chiefs returned to the negotiating table and reach a fair deal, which is what they have now.
Mahomes and the Chiefs agreed to a restructured contract that will pay him $210.6 million between the 2023 season and the 2026 season, according to ESPN. This is the largest amount of money given to a player in NFL history over a four-year period and his compensation over this period is guaranteed. Kansas City reportedly intends to review Mahomes’ contract after the 2026 season.
Mahomes signed a 10-year contract with the Chiefs worth up to $503 million. It is the largest contract in the history of American professional sports and the quarterback was also the first professional athlete to sign a half-billion dollar contract. That said, Mahomes’ deal from an average annual salary standpoint ($45 million) ended up ranking eighth among quarterbacks after Joe Burrow’s contract extension ($55 million in AAV). As part of that restructuring, the 28-year-old is looking at a fully guaranteed AAV of $52.65 million, which would rank him second among quarterbacks and just above the Chargers’ Justin Herbert.
Mahomes entered the NFL as the Chiefs’ No. 10 pick in 2017 out of Texas Tech and had one of the most impressive starts to his career in league history. In six seasons as a full-time starter in Kansas City, he has already won two Super Bowl titles, two Super Bowl MVPs, two regular season MVPs and led the league in passing yards and touchdowns ( twice).