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It seemed a little, shall we say, uneven in recent years to see NFL quarterbacks who had never won or even played in a Super Bowl surpass Patrick Mahomes as the highest-paid quarterback in the league.
That will change starting in 2027.
On Wednesday, Mahomes topped the entire quarterback group by agreeing to a new contract with a two-year extension worth $504.75 million and tying him to the Kansas City Chiefs through the 2033 season. ESPN was the first to report the news.
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Kansas City Chiefs quarterback Patrick Mahomes walks off the field after an NFL game against the Las Vegas Raiders in Kansas City, Missouri, on Oct. 19, 2025. (Reed Hoffmann/AP)
The deal is not yet signed, but has been in the works for weeks between Mahomes’ representatives at Equity Sports and Chiefs general manager Brett Veach and his staff.
The extension means Mahomes now has a contract from 2026 to 2033 worth more than $500 million over eight seasons. That represents the first NFL contract to surpass the $500 million mark.
Mahomes can go up to $522.25 million if he meets the incentives.
And this: When $239.05 million in new money takes effect starting in 2027, Mahomes will average about $64 million per season.
Kansas City Chiefs quarterback Patrick Mahomes removes his helmet after defeating the Buffalo Bills during the AFC Championship game at GEHA Field at Arrowhead Stadium in Kansas City, Missouri, on January 26, 2025. (Mark J. Rebilas/Imagn Images)
That exceeds the $60 million per year on average that Dallas Cowboys quarterback Dak Prescott receives as the current highest-paid quarterback in the NFL.
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And it certainly beats the $45 million per year average Mahomes has been receiving since signing his current contract in 2020.
Back then, Mahomes signed a 10-year contract worth $450 million. It made him the highest-paid quarterback in the NFL.
But in subsequent years, players like Lamar Jackson, Justin Herbert, Brock Purdy, Tua Tagovailoa, Jared Goff, Trevor Lawrence, Josh Allen, Jordan Love and Prescott signed deals that were worth more on an annual average.
And do you know how many Super Bowl championships come with all those higher-paid QBs?
Zero.
Kansas City Chiefs quarterback Patrick Mahomes is interviewed by Netflix reporter Stacey Dales after a win against the Pittsburgh Steelers at Acrisure Stadium in Pittsburgh, Pennsylvania, on December 25, 2024. (Images by Barry Reeger-Imagn)
Mahomes has helped the Chiefs reach five Super Bowls. And they have won three.
That alone suggests Mahomes was underpaid and was averaging $45 million per season. That, of course, can be debated because Mahomes hasn’t exactly posted career statistics in recent years.
His annual passing yards have declined in each of the last three seasons since he posted a career-high 5,250 passing yards in 2022.
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But the stats are affected by the level of talent around him. The Chiefs have struggled on the offensive line and the wide receiver cast has been changing and often inconsistent in recent years.
The important thing is whether the Chiefs believe Mahomes deserves a raise. They have answered that question.
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