Patrick Mahomes signs massive 8-year deal valued at $504 million

By: Anthony McCulley

 Patrick Mahomes signs massive 8-year deal valued at $504 million


Mahomes after a win against the Chargers PC: reuters.com


The Kansas City Chiefs sign Patrick Mahomes on a massive eight-year deal, making it the first deal valued over $500 million. 

Mahomes’ new deal is an eight-year deal valued at $504.75 million with two years added on, per nfl.com. According to Adam Schefter, the total $504 million becomes fully guaranteed with mechanisms and escalators. Mahomes’ first four years are fully guaranteed. Mahomes now becomes the first NFL player with a contract valued at half a billion dollars. 

One of the incentives includes a $1.25 million bonus for each super bowl win (must play in 50% of snaps) and for winning NFL mvp plus a super bowl appearance per nfl.com. 

He is set to average $64 million per year in 2027, which is also an NFL record, surpassing Dak Prescott’s $60 million average.  The reworked deal comes on the heels of the original 10-year, $450 million deal that was set to run from 2020-2031 back in 2020.

This new contract now runs through 2033, Mahomes’ year 38 season. The two added years maxes out the contract at $522.25 with incentives. The two years added $239.05 million in “new money.” 

“This is a huge day for the Chiefs, Patrick, and really all of Chiefs Kingdom,” general manager Brett Veach said, in a statement. “This is a landmark deal for a once-in-a-lifetime player. Patrick has grown into one of the most prolific quarterbacks to ever play the game, and to add to that, he’s changed the culture of the building and has led us in the most successful era in our franchise’s history. Beyond the game, he’s an incredible person who puts his team and winning above everything else.” 

Since the early 2000s, there have been five 10-year deals. Brett Favre signed a 10-year, $100 million deal in 2001 with the Packers. Michael Vick in 2004 signed a deal worth 10-years, $130 million with the Falcons. In 2003, Daunte Culpepper signed a 10-year deal worth $102 million with the Vikings.

In 2002, Donovan McNabb signed a 10-year + deal worth $115 million with the Eagles. Mahomes ends the list with his 2020 deal that was worth $450 million on a 10-year deal, per northbridgetimes.com. 







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