The Kansas City Chiefs and quarterback Patrick Mahomes have reportedly agreed to terms on a record-setting restructured contract, which will include $210.6 million between 2023 and 2026, sources with knowledge of the negotiations told NFL Network's Tom Pelissero and Ian Rapoport on Monday (September 18).
"The #Chiefs and superstar Patrick Mahomes have agreed to terms on a restructured contract that brings his compensation back in line with other top QBs, sources tell me and @RapSheet. @EquitySports CEO @chriscabott negotiated the deal, which gives the two-time MVP another payday." Pelissero wrote on his X account. "The Chiefs and Patrick Mahomes plan to revisit the deal again after the 2026 season. It effectively cuts the remaining years on the deal from eight more seasons to three. @equitysports CEO @chriscabott negotiated the deal for Mahomes, who is co-represented by @LeighSteinberg."
Mahomes, the reigning NFL regular season and Super Bowl MVP, threw for 305 yards, two touchdowns and one interception in the Chiefs' 17-9 road win against the Jacksonville Jaguars on Sunday (September 17), his 28th birthday, to lead the defending Super Bowl champions' first win of the 2023 NFL season. Mahomes capped off a historic season with a gutsy performance in Super Bowl LVII, winning the Super Bowl MVP award for the second time in his career in February.
The quarterback threw for 182 yards and three touchdowns on 21 of 27 passing, while also recording 44 yards on six rushing attempts, despite appearing to re-injure his late in the second quarter. Mahomes scrambled for 26 yards on the Chiefs' final possession to setup deep in Eagles' territory with the game tied 35-35 just before the two-minute warning.
A crucial holding call three plays later led to Kansas City running out the clock before Harrison Butker's game-winning 27-yard field goal with eight seconds remaining. Mahomes' historic Super Bowl performance came just three days after he won his second Associated Press NFL MVP award, having led all NFL quarterbacks with 5,250 passing yards and 41 touchdown passes during the regular season.
The 28-year-old had previously won the AP NFL MVP award during his second NFL season and his first as a starter in 2018. The Chiefs have two Super Bowls since Mahomes took over as the team's starting quarterback in 2017.