Patrick Mahomes Contract Details: How the Chiefs Set Up Star QB’s Record Extension

The Chiefs made superstar quarterback Patrick Mahomes the highest-paid quarterback in the NFL once again on Thursday, inking him to an extension that keeps him in Kansas City through the 2033 season.

Since first extending Mahomes in 2020 on a 10-year contract, the Chiefs have made it a priority to not just sign him to a standard four or five-year extension, but ensure the Super Bowl champion and MVP-winning quarterback is truly in Kansas City for the long haul. They have now signed him through his age-38 season on a contract that both makes him the highest-paid player and offers the team flexibility in the future.

SI has obtained a full breakdown of Mahomes’s extension. Here’s a full look at all the details in his latest contract.

Patrick Mahomes extension: Full details ahead of quarterback’s 10th NFL season

Patrick Mahomes, NFL, Chiefs. — The three-time Super Bowl champion is the NFL’s highest-paid quarterback once again. | Denny Medley-Imagn Images

Mahomes’s extension has a base value of $504.75 million over the next eight years. Here’s a year-by-year breakdown of what the deal looks like over the next eight seasons.

2026

$56.75 million in cash in 2026
$54.45 million May roster bonus that’s already earned
$1.3 million base salary
$1 million workout bonus
All fully guaranteed

2027

$58 million in cash in 2027
$30 million in a May 5 roster bonus
$27 million in base salary
$1 million workout bonus
All will be fully guaranteed by next week

2028

$60 million in cash in 2028
$30 million in a May 5 roster bonus
$29 million base salary
$1 million roster bonus
$35.5 million guaranteed by next week
The remainder ($24.75 million) vesting in March 2028.

2029

$62.5 million in cash in 2029
$30 million in a May 5 roster bonus, which becomes fully guaranteed in March 2028, a year early
$31.5 million in base salary
$1 million workout bonus
The remaining $32.5 million vests in March 2029.

2030

$63.75 million in cash in 2030
$30 million in a May 5 roster bonus, which becomes fully guaranteed in March 2029
$32.75 million in base salary
$1 million workout bonus
The remaining $33.75 million vests in March 2030

2031

$65.75 million in cash in 2031
$30 million in a May 5 roster bonus, which becomes fully guaranteed in March 2030
$34.74 million in base salary
$1 million workout bonus
The remaining $35.75 million vests in March 2031

2032

$68 million in cash in 2032
$30 million in a May 5 roster bonus, which becomes fully guaranteed in March 2031
$37 million in base salary
$1 million workout bonus
The remaining $38 million vests in March 2032.

2033

$70 million in cash in 2033
$30 million in a May 5 roster bonus
$39 million in base salary
$1 million workout bonus
All $70 million vests as fully guaranteed in March 2033

Escalators in Mahomes’s Extension

From 2027 to `33, Mahomes will additionally earn $1.25 million for each year he wins the Super Bowl and plays in 50% of the snaps of that Super Bowl or the regular season.

He can make another $1.25 million each year he wins AP NFL MVP and advances to the AFC title game.

The full numbers and guarantees in the deal

Mahomes will get $56.76 million this year, $114.75 million over the next two years, $174.75 million over the next three years, and a record $237.25 million over four years, all of which is guaranteed against injury. His total rises to $301 million over the first five years of the deal, and has an average per year besting $63 million over the life of the deal. Add it up and, from his 2023 deal, it’s a raise over $13.4 million over the next two years, $24.4 million over the next three, $29.15 million over the next four years, and $40 million over the next five years. Also, by next week, $150 million in the deal will be fully guaranteed, and money going all the way through 2032 is protected by a rolling guarantee structure.

There are also two void years on the end to manage the cap implications, with cap charges of $34.65 million, $90.35 million, $85.84 million, $82.94 million, $74.64 million, $65.75 million, $68 million and $70 million over the next eight years, respectively.

The deal gives the Chiefs the flexibility to restructure as need be, and, of course, the promise of future revisions as need be.

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