Patrick Mahomes Now Has The First NFL Deal Worth Over Half A Billion Dollars

Back in July of 2020, Patrick Mahomes signed what was then a record-setting contract extension with the Kansas City Chiefs. The deal ultimately ended up being worth $450 million over 10 years. At the time, Mahomes had won one MVP and led the Chiefs to a Super Bowl victory. Certainly not a bad career to that point.

Since then, Mahomes has become even more indispensable for the team. He's added one more MVP award to his accomplishments, and the Chiefs have reached the Super Bowl four more times, winning twice.

Three titles, five Super Bowl trips, and two MVPs? Yep, both sides are quite happy to continue this relationship. And the Chiefs are willing to once again offer Mahomes a record-setting contract extension to keep things going. Kansas City has reworked the current deal to add two years, bringing the total value of the deal to $504.75 million, per Mahomes's agency Equity Sports. It's the first time an NFL contract has topped half a billion dollars.

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Mahomes is now under contract through the 2033 season. No other quarterback in the league is signed for longer than six seasons. And the total value of Mahomes' contract far surpasses second place; Josh Allen is on a $330 million contract with the Buffalo Bills.

Chiefs chairman and co-CEO Clark Hunt released a statement about the news. He called Mahomes "one of the most iconic, beloved sports figures of all time" and added, "Patrick is a generational talent and an elite human being, and I'm so excited he will continue to lead our team into the future."

Last season, the Chiefs missed the postseason entirely. Mahomes sat out the end of the year after tearing his ACL and LCL and had surgery in mid-December. He's expected to make a full recovery, though he isn't rushing his return.

The Chiefs don't seem to have any intention to rush him to rush back, either. After all, he's now financially the most valuable investment in the NFL.