Mahomes signed massive 10-year contract extension in 2020
Patrick Mahomes is a two-time Super Bowl champion and has won a couple of NFL MVP trophies over the course of his standout career.
The seventh-year signal-caller agreed to the terms of a restructured contract with the Kansas City Chiefs, which effectively makes him the highest-paid player in the NFL over the next four years. While Mahomes wanted to seize the opportunity to increase his income, he also wants the Chiefs to still have enough salary cap space to fill out a competitive roster.
"You have to watch and see what’s going on around the league and find that right spot," Mahomes said Wednesday in his first comments since reworking his deal. "I think we found a good one in this negotiation we did to keep cap space to get other guys signed, but obviously I’ve got more money up front, and we’ll renegotiate when we get to the right time."
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Patrick Mahomes of the Kansas City Chiefs speaks to the press, June 15, 2023, at Arrowhead Stadium in Kansas City, Missouri. (Kyle Rivas/Getty Images)
Mahomes signed a 10-year contract worth up to $450 million in 2020. He has nine years remaining on the deal. The revision moves up a portion of the money from the last five seasons to the first four, giving him $210.6 million over that span – the most over any four seasons in NFL history.
The Chiefs and Mahomes' representatives have agreed to meet again and discuss the future at some point in 2026.
"You have a lot of great players that I want to be here so we can win a lot of Super Bowls," Mahomes said. "I want to make a lot of money, but I also want to win. You look back at players, and you look back at how they won and the perception of how they did things, and that’s what I want to try to manage."
Patrick Mahomes of the Kansas City Chiefs looks to pass against the Cincinnati Bengals during the fourth quarter in the AFC Championship Game at Arrowhead Stadium in Kansas City, Missouri, on January 29, 2023. (Kevin C. Cox/Getty Images)
In a few months, the Chiefs will also have to decide on All-Pro defensive tackle Chris Jones' future with the franchise. Jones held out this offseason and sat out of the team's season opener amid a contract dispute. He later agreed to a reworked one-year deal.
Elsewhere, offensive lineman Donovan Smith, linebacker Willie Gay Jr. and cornerback L’Jarius Sneed are also staring ahead at the possibility of free agency.
Then there are Pro Bowl center Creed Humphrey, right guard Trey Smith and standout linebacker Nick Bolton, who are all eligible for contract extensions after the season – and all will command a hefty price.
Patrick Mahomes of the Kansas City Chiefs calls a play against the Jacksonville Jaguars during the first half at Arrowhead Stadium on January 21, 2023, in Kansas City, Missouri. (Cooper Neill/Getty Images)
Mahomes added that he was not focused on necessarily landing the most lucrative contract, he instead wanted to find the right deal.
"I’ve always kind of liked it," Mahomes said of the negotiating process. "If I didn’t become an NFL player, I wanted to be a sports agent or work in sports marketing. I’ve always wanted to help players. I know I’m doing it a different way than some people, but I feel like it’s the right way for me. ... Hopefully, I’m giving us a chance to go out there and win football games as well."
Chiefs coach Andy Reid praised Mahomes for his ability to keep an even keel even as the value of his contract has soared.
"He’s not big on all of that. He just kind of moves through it like most things and wants to keep getting better," Reid said, "and that is what he’s doing. That’s what makes him unique. You don’t sit there and say, ‘Oh, he’s going to have a letdown.’ You just say, ‘Hey, congrats,’ and keep moving. That’s how he rolls. But I’m happy for him."
The Associated Press contributed to this report.
Chantz Martin is a sports writer for Fox News Digital.
