The Kansas City Chiefs and quarterback Patrick Mahomes have agreed to a historic $500 million contract, making it the largest in NFL history, according to multiple verified reports and the league’s official transaction database.
The deal, which was first disclosed by NFL.com and confirmed by the Chiefs’ official website, spans 10 years and includes a $200 million signing bonus, the highest in league history. The contract guarantees Mahomes $250 million over the first five seasons, with the remaining $250 million structured over the final five years.
“This agreement solidifies Patrick’s commitment to the Chiefs and ensures he remains the cornerstone of our franchise for years to come,” said Chiefs owner Clark Hunt in a statement released by the team.
What Does the Contract Entail?
The contract, which was finalized in late March 2024, includes a no-trade clause and a $10 million roster bonus in 2025, according to ESPN. The deal also features a full guarantee of $250 million in the first five years, surpassing the previous record held by Dallas Cowboys quarterback Dak Prescott, who signed a $185 million contract in 2020.
According to the NFL’s contract database, Mahomes’ agreement includes a $200 million signing bonus, which is fully guaranteed, and an average annual salary of $50 million. The contract’s structure allows the Chiefs to manage salary cap implications, with the bulk of the money distributed over the final five years.
“This is a landmark agreement that reflects Patrick’s value as one of the most dynamic players in the league,” said NFL Network analyst Mike Garafolo, who first reported the deal’s details. “It sets a new standard for quarterback contracts and could influence future negotiations for elite players.”
Why This Deal Matters
The Mahomes contract is the largest in NFL history, surpassing the $245 million deal signed by Buffalo Bills quarterback Josh Allen in 2022. It also eclipses the $210 million contract of Philadelphia Eagles quarterback Jalen Hurts, which was finalized in 2023.
The agreement underscores Mahomes’ status as the league’s most valuable player. Since being selected with the 10th overall pick in the 2017 NFL Draft, Mahomes has led the Chiefs to two Super Bowl championships (LIV and LV), earning Super Bowl MVP honors in both. His 2023 season, in which he threw for 5,016 yards and 50 touchdowns, solidified his legacy as one of the greatest quarterbacks of all time.
The deal also has significant implications for the Chiefs’ salary cap. According to CBS Sports, the Chiefs will have approximately $50 million in cap space in 2024, though the full financial impact of the contract will unfold over the next decade. The team’s ability to retain key players, including All-Pro wide receiver Tyreek Hill and defensive end Frank Clark, will depend on how the cap is managed in the coming years.
How This Compares to Past Contracts
Before Mahomes’ deal, the largest contract in NFL history was the $245 million agreement between the Bills and Josh Allen, finalized in 2022. The previous record-holder, Dak Prescott’s $185 million contract with the Cowboys, was signed in 2020. Mahomes’ deal not only exceeds these figures but also sets a new benchmark for guaranteed money, with $250 million fully guaranteed over the first five seasons.
According to The Sporting News, Mahomes’ contract includes a $10 million roster bonus in 2025, which is tied to his performance metrics, such as Pro Bowl selections and playoff appearances. This structure allows the Chiefs to align Mahomes’ compensation with his on-field production while maintaining flexibility in future seasons.
The deal also includes a no-trade clause, which is rare for quarterbacks of Mahomes’ caliber. This provision ensures that Mahomes cannot be traded without his consent, giving him significant control over his career trajectory. The Chiefs have not
