The Chiefs have again restructured and extended the contract of Patrick Mahomes, and as a result, have ensured that the star quarterback will be a fundamental part of the team’s forthcoming stadium in Kansas.
In the latest reworking of an agreement first signed in 2020, the Chiefs have added two years and more than $239 million to the overall term, keeping him in place through the 2033 season. Mahomes will now earn $504.75 million—all of it guaranteed through contract mechanisms—with incentives that could bring the total value to $522.25 million.
Notably, the revision brings Mahomes back to the top of the NFL’s quarterback pay scale—something the team felt was warranted given that he has won two league Most Valuable Player Awards and has led the Chiefs to five Super Bowls and won three. In 2027, when the new money begins, he will average more than $63 million and set a new record for average annual value in a NFL player deal.
“Over the last decade, Patrick has become one of the most iconic, beloved sports figures of all time,” Chiefs owner Clark Hunt said in a statement. “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. Patrick is a generational talent and an elite human being, and I’m so excited he will continue to lead our team into the future.”
The restructuring also is happening as Mahomes is recovering from a season-ending knee injury sustained last December, an ugly coda to a 6–11 season that was the Chiefs’ first out of the playoffs since 2014.
Mahomes is aiming to return in time for the start of the 2026 regular season. To that end, the Chiefs will be part of the Monday Night Football season opener on ESPN and ABC on Sept. 2 against the AFC West division rival Broncos.
Looking to the Future
There is more to this latest move than just making sure that Mahomes sticks around and extends what has been a transformative run for the franchise.
Mahomes will be a fixture of a new domed stadium now being developed in Wyandotte County, Kan. The team struck a deal for a $3 billion facility last December with Kansas state legislators, and will move from their longtime home of Arrowhead Stadium.
The new stadium is targeted for a 2031 opening, and the team is currently evaluating two potential firms to design the facility. With the extension, Mahomes is now set to play at least the first three years of that new venue, and even if there is a delayed opening, he’ll still definitely be there. At the end of the contract term, he will be 38.
The Chiefs are part of an accelerating stadium wave across the NFL that also includes the Bills, Titans,Browns,Commanders, Broncos, and Bears.
While Mahomes not surprisingly remains the focal point of the Chiefs’ roster development, the team has consistently been unafraid to pay key players and coaches market-moving money to keep them in Kansas City.
