Chiefs give Patrick Mahomes new contract worth $504.75 million

The Kansas City Chiefs and quarterback Patrick Mahomes finalized a contract on June 12, 2026, that will average $63.1 million per season through 2033. The deal is valued at $504.75 million, with $150.25 million fully guaranteed. Future salary cap implications are a concern, as Mahomes' cap hits reach $90.3 million in 2027, along with substantial increases in the following years. With the Chiefs previous restructuring of Mahomes' deal, the current salary for 2026 remains at $34.6 million, but annual compensation will rise significantly until 2033. The contract includes performance incentives and guarantees similar to his previous agreement.

• 2:00 PMYahoo Sports — Explaining the details of Chiefs’ new contract with Patrick Mahomes