Patrick Mahomes' $500M Contract Makes NFL History, Updated Career Earnings for Chiefs QB

The Kansas City Chiefs are reportedly locking in Patrick Mahomes through the 2033 season on the most lucrative deal in NFL history.

The Chiefs are adding two years and $239.05 million to Mahomes' contract, ESPN's Adam Schefter and NFL Network's Ian Rapoport reported Wednesday.

The extension brings Mahomes' total contract value to a record $504.75 million, or $522.25 million with incentives, from 2026 to 2033.

That makes Mahomes the first player in NFL history signed to a deal worth more than half a billion dollars, Schefter reported.

The Chiefs posted a photo of Mahomes signing his new deal:

Mahomes has received $232 million in career earnings, per Spotrac. That number is now set to climb to more than $730 million by 2033.

The Los Angeles Rams' Matthew Stafford currently ranks first in NFL history with $408 million in career earnings, per Spotrac.

Mahomes initially joined the Chiefs on a four-year, $16.4 million rookie contract in 2017.

He set what was then a record across all sports in total value when he signed a signed a 10-year, $450 million deal in 2020.

The new extension brings the total new money offered to Mahomes from 2022 to 2033 to a total of $689.05 million, per Schefter and Rapoport.

Dallas Cowboys quarterback Dak Prescott leads active quarterbacks with an annual average salary of $60 million per year.

Mahomes will be making a record $64 million per year when the new money on his contract kicks in ahead of the 2027 season, according to Schefter.

The first four years of Mahomes' contract are guaranteed at signing, Schefter reported. The remaining money "becomes guaranteed through contract mechanisms," according to Schefter.

Mahomes' extension will keep him under contract through his age-38 season in 2033.

The Chiefs quarterback is the only NFL player signed through 2033, according to Spotrac. The Seattle Seahawks' Jaxon Smith-Njigba, who is under contract through 2031, is the only other player locked in past 2030.

The news comes amid Mahomes' ongoing recovery from the left knee injuries that prematurely ended his 2025 season. ESPN's Nate Taylor recently reported there is a chance Mahomes could be ready to join in on 11-on-11 work by the time Chiefs training camp starts next month.