The days of Patrick Mahomes being paid less than other quarterbacks are over.
According to NFL Network Insiders Ian Rapoport and Tom Pelissero, Mahomes and the Kansas City Chiefs have reached an agreement on a restructured contract that will pay the quarterback $210.6 million from 2023 to 2026, the most in history for a four-year period. By the end of 2026, the agreement might increase to $218.1 million with escalators.
According to Rapoport and Pelissero, the $210.6 million is guaranteed over the following four years.
After the 2026 season, the sides also want to review the contract once more, thereby reducing the deal’s remaining years from eight to three.
Simply put, the Chiefs shortened the contract to give Mahomes another chance at a pay day as QB contracts continue to grow and moved up the money to fairly recompense the NFL’s top player.
Mahomes and the Chiefs reached a 10-year, $450 million contract extension in 2020, extending his deal through the 2031 season.
After Joe Burrow’s deal was extended, Mahomes’ average annual pay, which was $45 million, dropped to eighth place among quarterbacks, behind Justin Herbert, Lamar Jackson, Jalen Hurts, Russell Wilson, Kyler Murray, and Deshaun Watson. Mahomes is now back where he belongs, towards the top, thanks to the additional cash flow.