See financial details of Patrick Mahomes’ new Chiefs contract, including cap hits
AI-generated summary reviewed by our newsroom.
- Mahomes’ contract is valued at $504.75 million and averages $63.1 million yearly.
- The contract includes a fully guaranteed $150.25 million.
- Mahomes can earn $1.25 million for Super Bowl wins and $1.25 million for AFC title games.
The Chiefs this week made Patrick Mahomes the highest-paid quarterback in the NFL, and he could earn even more than the $504.75 million he’ll be paid over the next eight seasons in the contract extension.
Sports Illustrated shared a breakdown of Mahomes’ contract, and it shows that he can earn an additional $1.25 million from 2027-33 for each year he wins the Super Bowl and plays in 50% of the snaps of that Super Bowl or the regular season. Should the Chiefs advance to the AFC title game, Mahomes will earn $1.25 million. Additionally, that’s the amount he’d be paid for winning the NFL MVP award.
Spotrac noted that Mahomes’ will have an average yearly salary of $63.1 million. The new contract includes a fully guaranteed $150.25 million and $397 million in “practical” guarantees.
This will be Mahomes’ cap hit each season, Spotrac said:
- 2026: $34.6 million
- 2027: $90.3 million
- 2028: $85.8 million
- 2029: $82.9 million
- 2030: $74.6 million
- 2031: $65..7 million
- 2032: $68 million
- 2033: $70 million
Given the enormous cap hit for the 2027 season, it’s likely the Chiefs will restructure Mahomes’ deal at some point next year.
The Sports Illustrated story noted the Chiefs will pay Mahomes $56.76 million this year. Over the next four years, Mahomes earns a record $237.25 million, and it is guaranteed against injury.
Here is how much Mahomes will earn each year. The first number is his base salary and the other is the total amount he’ll earn with bonuses, via SI:
- 2026: $1.3 million/$56.75 million
- 2027: $27 million/$58 million
- 2028: $29 million/$60 million
- 2029: $31.5 million/$62.5 million
- 2030: $32.75 million/$63.75 million
- 2031: $34.75 million/$65.75 million
- 2032: $37 million/$68 million
- 2033: $39 million/$70 million
This story was originally published June 12, 2026 at 11:34 AM with the headline "See financial details of Patrick Mahomes’ new Chiefs contract, including cap hits."
