Patrick Mahomes just became the first NFL player with a contract worth more than $500 million.
The Kansas City Chiefs reworked Mahomes’ deal, adding two years and keeping him under contract through the 2033 season. The new agreement is worth $504.75 million overall, with $239 million in new money and an NFL-record average salary of about $64 million per year.
The deal includes four years guaranteed at signing, and contract provisions could eventually make the entire contract guaranteed. The Chiefs say the move reflects Mahomes’ importance to the franchise after leading the team to multiple Super Bowl appearances and championships.
Mahomes originally signed a 10-year, $450 million contract in 2020, but the Chiefs have reworked it several times to keep him among the NFL’s highest-paid players.
