Patrick Mahomes agrees to major Chiefs contract restructuring
Jan 8, 2022; Denver, Colorado, USA; Kansas City Chiefs quarterback Patrick Mahomes (15) before the game against the Denver Broncos at Empower Field at Mile High. Credit: Ron Chenoy-USA TODAY Sports
The Kansas City Chiefs and Patrick Mahomes are making a big change to his contract that will benefit both parties.
The Chiefs have restructured Mahomes’ contract to guarantee him $210.6 million between 2023 and 2026, according to multiple reports. The two sides intend to re-visit the contract after the 2026 season in order to ensure that Mahomes is still paid like one of the league’s top quarterbacks.
The Chiefs and Patrick Mahomes have restructured his agreement, giving him $210.6 million between 2023 and 2026, the most money in NFL history over a four season span. His compensation for those years is now guaranteed. Also, the Chiefs and Mahomes plan to re-visit the agreement… pic.twitter.com/7a2vlt9Si2
— Adam Schefter (@AdamSchefter) September 18, 2023
The restructure essentially guarantees Mahomes more money while shortening a previously-agreed 10-year contract that was signed in 2020. Only $141 million of that deal was guaranteed. While that is a huge sum, it fell behind the deals that other quarterbacks have signed since then. Mahomes signaled that he did not necessarily care, but it is in both sides’ best interests to keep Mahomes happy regardless.
The Chiefs have not been quite as dominant as usual on offense to start the season, but the team obviously has no long-term concerns about their quarterback, nor should they.
