Patrick Mahomes: Kansas City Chiefs quarterback to make over $500m guaranteed after signing contract extension

Kansas City Chiefs quarterback Patrick Mahomes has signed the NFL's first guaranteed $500m contract.

Mahomes, a three-time Super Bowl winner, will extend his contract by two years through to 2033 in a deal worth $504.75m.

The entire sum will be guaranteed through contract clauses and 30-year-old Mahomes can earn up to $522.25m through incentives - after signing the initial $477m-guaranteed deal in 2020.

The extension begins in 2027 and is worth $64 million a year, making it the highest yearly average salary in the NFL and the biggest contract in sports history.

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Mahomes boasts a 95-31 career record and is 17-4 in the playoffs, while averaging the highest passing yards in NFL history at 285.2 per game and winning two NFL MVPs along the way.

The Chiefs, though, had their first losing season with Mahomes at the helm in 2025, as the team were 6-8 before Mahomes suffered an ACL injury in December and missed the last three games of the season (all losses).

The contract extension is a vote of confidence in the most successful player in their franchise's history.

Mahomes is now paid over $170m more guaranteed money than his closest competitor - the $330m contract of Buffalo Bills quarterback Josh Allen - as he looks to cement his legacy and take his side to a third Super Bowl victory in eight seasons as a starter.

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(c) Sky Sports 2026: Patrick Mahomes: Kansas City Chiefs quarterback to make over $500m guaranteed after signing contract extension