The Chiefs have addressed a important concern by renegotiating quarterback Patrick Mahomes’ contract. Following the new contract signed by Bengals quarterback Joe Burrow, Mahomes discovered himself $ten million per year beneath the best of the industry for his position. As a outcome, the Chiefs and Mahomes have worked out a new contract that will extend their connection till 2026 devoid of any additional adjustments. This signifies that Mahomes is now signed into the subsequent decade.
According to a supply familiar with the deal, the new contract does not contain any more funds. As an alternative, payments have been rearranged to enhance Mahomes’ money flow. From 2023 to 2026, Mahomes will acquire $208.1 million, all assured for injury. Particularly, he will earn $56.85 million in 2023 (getting currently earned $35 million beneath the preceding deal), $44.five million in 2024, $50 million in 2025, and $56.76 million in 2026.
In addition, Mahomes is anticipated to acquire $59.two million in 2027. This 5-year total of $261 million surpasses other quarterback contracts throughout the exact same period. It is crucial to note that the contract will be reevaluated immediately after the 2026 season.
The adjustment to Mahomes’ contract has been lengthy overdue. Having said that, it was needed to address the Burrow deal just before the Chiefs and Mahomes could accurately assess the proper quantity to commit to him.