Patrick Mahomes Signs NFL's First $500M-Plus Guaranteed Deal

Patrick Mahomes has agreed to an extension that makes him the first NFL player to have more than $500 million guaranteed.

The Kansas City Chiefs quarterback will add two years to his deal, extending his contract through 2033 in a package valued at $504.75 million. The full amount is guaranteed through contract provisions, and with incentives Mahomes, 30, can earn up to $522.25 million. This follows the $477 million guaranteed contract he signed in 2020.

The extension, which begins in 2027, pays $64 million per season on average — the highest yearly salary in the NFL — and is being described as the largest contract in sports history by total guaranteed value.

A three-time Super Bowl champion and two-time NFL MVP, Mahomes enters the new deal with an outstanding career résumé: a 95-31 regular-season record, a 17-4 playoff mark, and the highest career passing yards per game in NFL history at 285.2. The contract is a clear vote of confidence from the Chiefs in their franchise centerpiece.

Kansas City endured its first losing season with Mahomes under center in 2025, sitting at 6-8 before Mahomes tore his ACL in December and missed the final three games, all losses. Despite that setback, the extension signals the team’s commitment to keeping him as their long-term leader as he looks to add a third Super Bowl title in eight seasons as a starter.

Financially, the deal puts Mahomes more than $170 million ahead in guaranteed money compared with his closest rival, Buffalo Bills quarterback Josh Allen, whose contract is worth $330 million guaranteed. The new agreement cements Mahomes’ status as the highest-paid player by guaranteed compensation in the sport.