Chiefs restructure Mahomes' contract in record-breaking deal

KANSAS CITY, Mo. - The Kansas City Chiefs and Patrick Mahomes have restructured the star quarterback's contract once again, reports say.

ESPN's Adam Schefter reports the new agreement gives Mahomes $210.6 million between 2023 and 2026, the most money in NFL history over a four-season span. Schefter said Mahomes' compensation is also now guaranteed.

Reports say the Chiefs and Mahomes plan to revisit the QB's contract again after the 2026 season.

The franchise once had the richest quarterback in sports with Mahomes' 10-year, $503 million contract he signed in July 2020. 

But as other NFL quarterbacks like Jalen Hurts and Joe Burrow have snagged their own robust deals, Mahomes had dropped down the list.

Before Monday's new deal, Mahomes was set to make $40.45 million this year, and his yearly contract wouldn't surpass more than $42 million until 2027 when he was scheduled to make $59 million.

But this isn't the first time the Chiefs and Mahomes have restructured the Super Bowl MVP's contract.

Just six months ago, the Chiefs converted $12 million of Mahomes’ 2023 roster bonus into a signing bonus, creating $9.6 million in cap space. The team did the same thing in 2021, saving the Chiefs $17 million in cap space.

Those moves allowed the QB to get his money faster and allowed the Chiefs to make a few more moves in free agency.

Mahomes has previously said he wants to keep the best players around him more than he wants to be highly paid.

“I’ve always said I worry about legacy and winning rings more than making money at this moment,” Mahomes said in May.

The Chiefs star said balancing getting enough money and keeping good players on the team is a hard line to walk that all top quarterbacks have to tangle with.

“It’s not about making a ton of money. I’ve made enough money where I’ll be set for the rest of my life,” he previously said.

“But at the same time, you gotta find that line where you’re making a good amount of money, but you’re still keeping a lot of great players around you so you can win these Super Bowls and you’re able to compete in these games.”