Given the state of quarterback contracts these days, it was only a matter of time before the Kansas City Chiefs were going to make some adjustments to the 10-year deal signed by Patrick Mahomes back in 2020. On Monday, NFL reporter Tom Pelissero reported that the Chiefs had done just that.
Specifically, Pelissero notes that the Chiefs have restructured Mahomes' deal to to the point where it "brings his compensation back in line with other top QBs."
According to Ian Rapoport, the new deal includes nearly $211 million in guaranteed money from this season through 2026 with incentives reaching much higher.
A new deal!
— Ian Rapoport (@RapSheet) September 18, 2023
In the restructured @patrickmahomes agreement, he now receives $210.6M between 2023 and 2026; the most in NFL History over a four season span. His compensation for those years is guaranteed. With escalators, the agreement could reach $218.1M by the end of 2026. pic.twitter.com/H6H84iryMN
In addition, ESPN reporter Adam Schefter notes that both sides will plan on revisiting the contract again in 2026.
Mahomes, who is only 28 years old, has provided the Chiefs with a level of play at the quarterback position previously unseen—not only in Kansas City but across the NFL. As a result, the Chiefs are now in the midst of the most successful era in franchise history, a current run of two championships in four seasons and five consecutive AFC championships hosted at Arrowhead. The team has also won the AFC West for seven straight seasons.
As for Mahomes's own production, he's the game's most popular athlete and a globally recognized superstar who has won two NFL MVP trophys to go with two Super Bowl MVP awards as well. If he were to retire today, short of six total seasons as a starter in the NFL, he'd still be a first-ball Hall of Fame player.