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Chiefs Extend Patrick Mahomes Through 2033 in Record-Setting Contract
The Kansas City Chiefs and quarterback Patrick Mahomes have locked in a restructured deal that adds two years to the player’s existing contract and pushes total compensation past the $500 million mark. A source familiar with the terms confirmed that the extension ties Mahomes to the franchise through the 2033 season, when he will be 38.
Mahomes first inked a 10‑year, $450 million pact in 2020—a deal that set a new benchmark for the quarterback position and for the NFL as a whole. The new agreement values the player at $504.75 million, with incentives and escalators that could lift the figure to $522.25 million. At an average annual salary of $63.1 million, the extension tops the league‑leading average of $60 million seen in Dak Prescott’s four‑year deal.
The Chiefs routinely rework Mahomes’ contract during the offseason to give the franchise flexibility to assemble a championship‑contending roster. The latest extension follows a broader restructuring that created cap space for the 2026 season by converting a portion of Mahomes’ base pay into a signing bonus.
Mahomes suffered a season‑ending knee injury in December 2023 after tearing ligaments in his left knee during a loss to the Los Angeles Chargers. He has spent the entire offseason rehabbing and has been active in the Chiefs’ program, which concluded Thursday. Chiefs head coach Andy Reid praised the quarterback’s effort, saying, “I like what I’ve seen. He’s working hard. This is good for him… It’s good rehab as he continues to rehab, so he keeps the feel with the wide receivers.”
The player has made it clear that his goal is to be ready for Week 1 of the upcoming season. “I want to be out there with my guys,” he posted on social media. “But I know that’s still a long way away, and so all I can do is execute the day and do whatever I can do to be better that day.”
Kansas City’s preseason opener is scheduled for August 15 against the Los Angeles Rams, with the regular‑season opener on September 14 against the Denver Broncos in a Monday‑night game at Arrowhead Stadium.
Since taking the helm in 2018, Mahomes has been a prolific performer: nearly 36,000 passing yards, six Pro Bowl selections, and three Super Bowls in five appearances. The Chiefs reached three straight Super Bowls (LIV, LVII, LVIII) before finishing the 2023 season 6‑11, a downturn that saw Mahomes on injured reserve for the final three games.
“As a competitor and as a football player, I want to be there,” Mahomes said. “I can’t predict the future. All I can do is be great today and then continue to be great tomorrow.”
The extension places Mahomes among the highest‑paid quarterbacks in NFL history and reflects the league’s recent trend toward larger contracts for elite players. It also gives the Chiefs a long‑term anchor at the quarterback position as they look to return to championship contention.
With a guaranteed contract through 2033, the organization gains stability while the player continues to recover from injury and prepare for the next season. The Chiefs’ focus remains on building a competitive roster around Mahomes and maintaining its status as a perennial playoff contender.
The contract’s final terms are still confidential, as the Chiefs do not disclose financial details. However, the extension’s value and duration have been confirmed by the player’s agency, Equity Sports, and by the team’s front office.
Looking ahead, the Chiefs will finalize roster moves, evaluate free‑agent options, and prepare for the 2024 season. Mahomes’ recovery progress and the organization’s cap strategy will be key factors in the pursuit of another Super Bowl title.
Mahomes first inked a 10‑year, $450 million pact in 2020—a deal that set a new benchmark for the quarterback position and for the NFL as a whole. The new agreement values the player at $504.75 million, with incentives and escalators that could lift the figure to $522.25 million. At an average annual salary of $63.1 million, the extension tops the league‑leading average of $60 million seen in Dak Prescott’s four‑year deal.
The Chiefs routinely rework Mahomes’ contract during the offseason to give the franchise flexibility to assemble a championship‑contending roster. The latest extension follows a broader restructuring that created cap space for the 2026 season by converting a portion of Mahomes’ base pay into a signing bonus.
Mahomes suffered a season‑ending knee injury in December 2023 after tearing ligaments in his left knee during a loss to the Los Angeles Chargers. He has spent the entire offseason rehabbing and has been active in the Chiefs’ program, which concluded Thursday. Chiefs head coach Andy Reid praised the quarterback’s effort, saying, “I like what I’ve seen. He’s working hard. This is good for him… It’s good rehab as he continues to rehab, so he keeps the feel with the wide receivers.”
The player has made it clear that his goal is to be ready for Week 1 of the upcoming season. “I want to be out there with my guys,” he posted on social media. “But I know that’s still a long way away, and so all I can do is execute the day and do whatever I can do to be better that day.”
Kansas City’s preseason opener is scheduled for August 15 against the Los Angeles Rams, with the regular‑season opener on September 14 against the Denver Broncos in a Monday‑night game at Arrowhead Stadium.
Since taking the helm in 2018, Mahomes has been a prolific performer: nearly 36,000 passing yards, six Pro Bowl selections, and three Super Bowls in five appearances. The Chiefs reached three straight Super Bowls (LIV, LVII, LVIII) before finishing the 2023 season 6‑11, a downturn that saw Mahomes on injured reserve for the final three games.
“As a competitor and as a football player, I want to be there,” Mahomes said. “I can’t predict the future. All I can do is be great today and then continue to be great tomorrow.”
The extension places Mahomes among the highest‑paid quarterbacks in NFL history and reflects the league’s recent trend toward larger contracts for elite players. It also gives the Chiefs a long‑term anchor at the quarterback position as they look to return to championship contention.
With a guaranteed contract through 2033, the organization gains stability while the player continues to recover from injury and prepare for the next season. The Chiefs’ focus remains on building a competitive roster around Mahomes and maintaining its status as a perennial playoff contender.
The contract’s final terms are still confidential, as the Chiefs do not disclose financial details. However, the extension’s value and duration have been confirmed by the player’s agency, Equity Sports, and by the team’s front office.
Looking ahead, the Chiefs will finalize roster moves, evaluate free‑agent options, and prepare for the 2024 season. Mahomes’ recovery progress and the organization’s cap strategy will be key factors in the pursuit of another Super Bowl title.
