A pay raise.
According to ESPN’s Adam Schefter — who was given the info by Equity Sports’ Chris Cabbott (Mahomes’ agent) — the Chiefs and Mahomes have restructured Mahomes’ contract to give him $210.6 million guaranteed between 2023 and 2026. The two parties then plan to revisit Mahomes’ contract after the 2026 season, per Schefter on September 18.
The $210.6 million guaranteed makes Mahomes the highest-paid player in NFL history over a four-year span, according to Schefter.
After Baltimore Ravens’ Lamar Jackson, Philadelphia Eagles’ Jalen Hurts, Los Angeles Chargers’ Justin Herbert, and Cincinnati Bengals’ Joe Burrow received new contracts this year that exceeded the value of Mahomes’, there was much anticipation surrounding how the Chiefs might address their superstar quarterback’s deal.
Prior to revising his contract, Mahomes was the ninth-highest-paid quarterback in the NFL based on contract guarantees. Cleveland Browns’ Deshaun Watson still has the richest contract in NFL history based on guarantees ($230 million), but his deal with Cleveland is for five years.
Twitter Reacts to Patrick Mahomes’ Revised Deal
Users on Twitter — which was recently rebranded to X — reacted to the news of Patrick Mahomes’ revised contract.
“Patrick Mahomes continues to rewrite the NFL record books, not only with his performance on the field but also with his groundbreaking contracts,” one user wrote. “The fact that his compensation is now guaranteed for those years is a remarkable achievement. It will be interesting to see how this agreement evolves after the 2026 season. Mahomes’ impact on the league is truly historic.”
“52.5 million a year. Still underpaid. But there goes the up and coming defensive class we drafted years ago that need new contracts next year,” another user wrote.
“As the reigning Super-Bowl MVP, his performance certainly warrants being among the highest-paid quarterbacks in the league,” another user wrote. “It will be exciting to see how Mahomes continues to excel on the field in the coming years.”
“Better save some money for WR’s, but the guy deserves it, cant deny that & unlike other players paid ridiculously lately, he’s earned it,” another user wrote.
Details of Patrick Mahomes’s Revised Deal
Albert Breer of Sports Illustrated shared the details of Mahomes’ revised deal with the Chiefs.
Breer described Mahomes’ revised deal as “No new money, money’s just moved forward,” which includes a $208.1 million injury guarantee, $133.7 million fully guaranteed, and a $20.57 million signing bonus.
Prior to the revised deal, Over The Cap had Kansas City on the books with $2.67 million in available cap space. Per ESPN’s Field Yates, Mahomes’ revised deal will free up an additional $2.5 million in cap space, which will give general manager Brett Veach more spending money to utilize in free agency, trades, or to address other contracts on the roster.
Through two games of the 2023 regular season, Mahomes has completed 62.5% of his passes for 531 yards and 4 touchdowns, and has also thrown 2 interceptions, according to Pro Football Reference. He also has 75 yards on the ground on 13 rushes.
Mahomes currently ranks 8th among quarterbacks in passing yards, is tied for 3rd in touchdowns, and is 22nd in quarterback rating (88.1) through two weeks of the regular season, according to NFL.com.