The Kansas City Chiefs reworked quarterback Patrick Mahomes’ contract and agreed to add two years, which will keep him with the team through the 2033 season, sources told ESPN’s Adam Schefter and Ian Rapoport.
The new money on Mahomes’ deal is worth $239.05 million, increasing the total value of his contract to an unprecedented $504.75 million. It’s the NFL’s first contract valued at over half a billion dollars.
The new deal will carry an average salary of $64 million, setting an NFL record for average annual salary, as it exceeds that of Dallas Cowboys star Dak Prescott, who previously led all quarterbacks with an annual salary of $60 million. The first four years of Mahomes’ agreement will be guaranteed at signing.