The QB contract dominos were falling all over the place this offseason and completely reset the market. Over the last few months, four different players held the title of "the highest-paid quarterback in the NFL" and naturally sent a few players down the list, including Patrick Mahomes. With a new market, it was only a matter of time before the defending NFL and Super Bowl MVP and the Chiefs were going to get back to the negotiating table and hammer out a fair deal, which they now have.
Mahomes and the Chiefs have agreed to a restructured contract that will pay him $210.6 million between the 2023 season and 2026 season, according to ESPN. That's the most money in NFL history given to a player over a four-year span and his compensation over that stretch is guaranteed. Kansas City reportedly plans to revisit Mahomes' contract again following the 2026 season.
Mahomes signed a 10-year contract with the Chiefs worth up to $503 million. The deal was the largest contract in American professional sports history and the quarterback was also the first professional athlete to ink a half-billion dollar contract. That said, Mahomes' deal from an average annual salary ($45 million) standpoint ended up ranking eighth among quarterbacks following Joe Burrow's contract extension ($55 million in AAV). Under this restructure, 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 Chargers' Justin Herbert.
Mahomes entered the NFL as the No. 10 overall pick of the Chiefs in 2017 out of Texas Tech and has enjoyed one of the most impressive starts to a career in league history. In six seasons as the 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).
