The Kansas City Chiefs are not letting go of Patrick Mahomes anytime soon.

Per ESPN, the star quarterback’s new contract is the first in NFL history to reach the $500 million mark, which has come through after some restructuring. He already set the market value in 2020 with his 10-year, $450 million extension. But this same contract, now having two more years and some more money added to it, solidifies Mahomes as one of the best in the league. The QB took to social media to express his gratitude for this gesture.

“CHIEFS KINGDOM!!!! We are here to stay! Love this place and the people that are a part of it, and thank yall for being there for me and my family everyday! We ain’t done yet tho! ⏰” Mahomes posted on Instagram on June 11, 2026.

Per ESPN’s Adam Schefter, the Chiefs quarterback is getting $239 million in new money. And, via “contract mechanisms,” all of the $504.7 million Mahomes is now owed becomes guaranteed money. His new annual pay, at $64 million, will make him the highest-paid quarterback come 2027. Per Underdog, Mahomes will take home $3.76 million after each game.

Patrick Mahomes is now locked to play for the Chiefs until 2033, by which time he will turn 38. We’ve seen outliers like him carry on for even longer, but this new contract should keep him happy for the long haul. Team owner Clark Hunt had nothing but praise for his one true trump card.

“Over the last decade, Patrick has become one of the most iconic, beloved sports figures of all time,” Hunt said, per ESPN. “He has helped lead our franchise to five Super Bowl appearances and three championships. He has been instrumental in shaping the Chiefs’ brand and putting Kansas City on the world stage, and on top of it all, he has been an outstanding role model in the community. 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.”

One can easily understand why the choice was made. Mahomes has recorded 38,604 total offensive yards in his playing career and scored 286 touchdowns. And with three Super Bowl wins, three Super Bowl MVP awards, and two NFL MVP trophies under his belt, only Mahomes could reason for a bigger paycheck. Every time Kansas City needed him in a big moment, he showed up.

The extension also comes at an interesting time. Mahomes is working his way back from surgery after tearing his ACL and LCL last season against the Los Angeles Chargers. Kansas City finished at a disappointing 6-11 last year, and depends on a healthy Mahomes to turn that number around this season. Based on how the QB is performing in the offseason, all signs point to something great.

The plan for Patrick Mahomes going forward

The Chiefs QB has been working relentlessly to get back up to his elite self. The team said that his recovery is “ahead” of the timeline initially projected for him, simply because of how far he has come. However, they are still a little bit cautious with Mahomes for this part of the offseason.

The QB was limited in the last Chiefs OTA; he participated in the 7-on-7s, but was held back from the 11-on-11s. He was also able to get some jogging done, as the main concern is Mahomes regaining his mobility before the season. Mahomes said on May 28 that he is “in a good spot” with his rehab and remains hopeful about returning for Week 1. But the Chiefs had already said earlier that he won’t be able to play “hero ball” just yet.

“In minicamp, Mahomes might see an increased workload with the hope he shows improvement with his footwork and mobility,” ESPN’s Nate Taylor wrote. “Following next week’s work, the Chiefs will have a break of at least 40 days before training camp. If Mahomes’ knee continues to strengthen, he could be ready to join his teammates for the 11-on-11 team periods when camp starts in St. Joseph, Missouri.”

As long as Patrick Mahomes is at his 100%, the Chiefs have a chance of nailing every realistic goal; that is why the team made arrangements to set a record with the QB’s contract. The minute he is out of the equation, the Chiefs fall like a house of cards.