Chiefs Extend Patrick Mahomes to Record-Breaking Half Billion Contract
When you win a franchise three championships and are still well in your prime; you tend to get the big bucks. Case in point, KC and their superstar quarterback. On Wednesday, it was confirmed that the Kansas City Chiefs have extended Patrick Mahomes to a record-breaking half billion dollar contract.
While this contract may not be the biggest in all of sports. Shohei Ohtani and ultimately the New York Mets’ Juan Soto ended up making jaws drop with their humongous contracts. Mahomes extension is still the largest that has ever been seen in the National Football League.
Kansas City has made the decision to add a couple of years to Patrick Mahomes’ contract, tying him to Kansas City through the 2033 season at a value of $504.75 million. Beginning in 2027, when the new money begins, the deal averages $64 million per year, setting a new NFL record for average annual value.
As ESPN’s Adam Schefter reported regarding this astounding moment in NFL contract history,
“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 Ian Rapaport 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 Kansas Chiefs kept in very brief when it came to their official announcement of Patrick Mahomes’ contract extension. The organization stated, “He’s our QB1 and you can’t have him.” So then, if other teams thought they would have an opportunity soon to grab Mahomes, for now he’s locked in for over a half decade more.
Chiefs Extend Patrick Mahomes to Record-Breaking Half Billion Contract
Additionally, Mahomes could earn more in the future. According to sources, the Chiefs QB can earn up to $522.25M with escalators. Therefore, it looks like Mahomes is comfortably cashing in yet again.
A nice incentive to have as he continues to rehab from his injury. Patrick Mahomes tore his ACL and LCL in his left knee on Dec. 14; but he’s pushing to start in Week 1 against the Denver Broncos. Nonetheless, the Chiefs getting this extension done midway through Mahomes’ rehab shows just how much KC believes in him.
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