Current:Home > InvestSurpassing:Patrick Mahomes lands record payout from Chiefs in reworked contract, per reports -MoneyMatrix
Surpassing:Patrick Mahomes lands record payout from Chiefs in reworked contract, per reports
Rekubit Exchange View
Date:2025-04-10 04:51:01
Patrick Mahomes saw four of his peers set the new bar for NFL quarterback contracts this offseason.
Now,Surpassing he’s getting back in the action as one of the highest-paid quarterbacks again.
Mahomes, one day after his 28th birthday Sunday, agreed to a restructured contract with the Kansas City Chiefs on Monday that will pay him $210.6 million guaranteed from the 2023 to 2026 seasons, the most ever for an NFL player in a four-year span, according to ESPN and NFL Network.
Though Mahomes remains under contract with the Chiefs through 2031, the two sides plan to revisit the deal after 2026, according to the reports.
Mahomes’ restructured contract could reach $218.1 million with contract escalators, per the reports.
NFL STATS CENTRAL: The latest NFL scores, schedules, odds, stats and more.
The revisions come more than three years after Mahomes signed a 10-year, $450 million contract that made him the league's highest-paid player by average annual value.
Where does Mahomes rank among highest paid NFL QBs annually?
Broken down annually per season, Mahomes will make $52.65 million annually from 2023-26 – a figure which would rank second behind the overall average annual value of Cincinnati Bengals star Joe Burrow ($55 million) and ahead of Los Angeles Chargers standout Justin Herbert ($52.5 million).
Burrow, Herbert, Ravens star Lamar Jackson and Eagles quarterback Jalen Hurts all signed new deals that earned them made them the highest-paid quarterback in the NFL during the offseason.
Meanwhile, Mahomes’ previously annual salary of $45 million dipped lower in the top 10.
How much did the QB market reset this offseason?
Burrow’s five-year, $275 million deal with the Bengals was agreed to earlier this month.
Herbert’s five-year, $262.5 million extension was agreed to in late July.
Jackson reached a five-year extension worth $260 million with $185 million guaranteed from the Ravens in late April, 10 days after Hurts’ deal.
Hurts got the ball rolling earlier this offseason with a five-year, $255 million deal in mid-April that ensured $179.3 million guaranteed and a no-trade clause from the Eagles.
veryGood! (11542)
Related
- North Carolina justices rule for restaurants in COVID
- More Republicans back spending on child care, saying it’s an economic issue
- Judge dismisses lawsuit challenging name change for California’s former Hastings law school
- How a grieving mother tried to ‘build a bridge’ with the militant convicted in her son’s murder
- What do we know about the mysterious drones reported flying over New Jersey?
- You're never too young: Tax season is here and your kids may owe money to the IRS.
- Biden Administration partners with US sports leagues, player unions to promote nutrition
- All eyes on Los Angeles Lakers, as NBA trade deadline rumors swirl
- Paula Abdul settles lawsuit with former 'So You Think You Can Dance' co
- Coca-Cola debuts spicy raspberry soda amid amped-up snack boom
Ranking
- Jamie Foxx gets stitches after a glass is thrown at him during dinner in Beverly Hills
- Medals for 2024 Paris Olympics to feature piece of original iron from Eiffel Tower
- Jury Finds Michigan Mom Guilty of Involuntary Manslaughter in Connection to Son’s School Shooting
- U.S. Electric Vehicles Sales Are Poised to Rise a Lot in 2024, Despite What You May Have Heard
- Where will Elmo go? HBO moves away from 'Sesame Street'
- 'It’s Coca-Cola, only spiced': New Coke flavor with hints of raspberry and spice unveiled
- How the pandemic ushered in a maximalist new era for Las Vegas residencies
- An Ohio officer says he didn’t see a deputy shoot a Black man but he heard the shots ring out
Recommendation
Trump's 'stop
A listener’s guide to Supreme Court arguments over Trump and the ballot
Chiefs' receivers pushed past brutal errors to help guide Super Bowl return
Mo'Nique slams Tiffany Haddish, Oprah Winfrey and Kevin Hart in scathing podcast: 'You betrayed me'
The White House is cracking down on overdraft fees
Patriots WR Kendrick Bourne offers insight into Mac Jones' struggles, Belichick's future
TikToker Veruca Salt Shares One-Month-Old Newborn Son Died in His Sleep
Donna Kelce offers tips for hosting a Super Bowl party: 'I don't want to be in the kitchen'