Patrick Mahomes has another new deal, one that pays him incredibly well — but that can never reflect his full value to the NFL and to the game of professional football.
The contract, which runs through 2033, replaces a prior deal that was set to expire after the 2031 season. It’s being generally regarded as a replacement deal, not as an extension that would trigger the usual “new money” analysis, because the traditional “new money” analysis would lead to a stunning new-money APY of nearly $120 million per year.
So it’s a new deal, like every “extension” that any other player signs. The old contract goes away, and a new one takes its place.
Here are the full details of the contract that the Chiefs and Mahomes have signed, per a source with knowledge of the terms.
1. Signing bonus: $54.5 million.
2. 2026 workout bonus: $1 million, fully guaranteed (but must be earned).
3. 2026 base salary: $1.3 million, fully guaranteed.
4. 2027 offseason roster bonus: $30 million, fully guaranteed.
5. 2027 workout bonus: $1 million, fully guaranteed (but must be earned).
6. 2027 base salary: $27 million, fully guaranteed.
7. 2028 offseason roster bonus: $30 million.
8. 2028 workout bonus: $1 million.
9. 2028 base salary: $29 million.
(The entire 2028 compensation package is guaranteed for injury; $35.25 million is fully guaranteed at signing; the remaining $24.75 million becomes fully guaranteed in early 2027.)
10. 2029 offseason roster bonus: $30 million.
11. 2029 workout bonus: $1 million.
12. 2029 base salary: $31.5 million.
(The entire 2029 compensation package is guaranteed for injury; $30 million becomes fully guaranteed in early 2028, and the remaining $32.5 million becomes fully guaranteed in early 2029.)
13. 2030 offseason roster bonus: $30 million.
14. 2030 workout bonus: $1 million.
15. 2030 base salary: $32.75 million.
(None of the 2030 compensation package is guaranteed at signing. In 2029, $30 million becomes fully guaranteed. In 2030, the remaining $33.75 million becomes fully guaranteed.)
16. 2031 offseason roster bonus: $30 million.
17. 2031 workout bonus: $1 million.
18. 2031 base salary: $34.75 million.
(None of the 2031 compensation package is guaranteed at signing. In 2030, $30 million becomes fully guaranteed. In 2031, the remaining $35.75 million becomes fully guaranteed.)
19. 2032 offseason roster bonus: $30 million.
20. 2032 workout bonus: $1 million.
21. 2032 base salary: $37 million.
(None of the 2032 compensation package is guaranteed at signing. In 2031, $30 million becomes fully guaranteed. In 2032, the remaining $38 million becomes fully guaranteed.)
22. 2033 offseason roster bonus: $30 million.
23. 2033 workout bonus: $1 million.
24. 2033 base salary: $39 million.
(None of the 2033 compensation package is guaranteed at signing. The full $70 million becomes fully guaranteed in 2033.)
The contract has annual escalators of $2.5 million, from 2027 through 2033.
The eight-year, $504.75 million deal has an annual average at signing of $63.093 million. The deal includes $150 million fully guaranteed at signing, and $237.25 million in injury guarantees.
The deal pays out $56.75 million in 2026, $58 million in 2027, $60 million in 2028, $62.5 million in 2029, $63.75 million in 2030, $65.75 million in 2031, $68 million in 2032, and $70 million in 2033.
The deal isn’t heavily backloaded; however, the payout climbs systematically from $56.75 million to $70 million. By 2033, $70 million may be a bargain, relative to the market and the salary cap.
Chances are that, long before 2033, the deal will be redone. The Chiefs have already reconfigured the prior deal on multiple occasions, aimed at ensuring Mahomes’s cash flow will be competitive with the market.
Chiefs defensive backs coach Dave Merritt is not facing discipline under the NFL’s personal conduct policy after a domestic battery charge against him was dismissed.
The NFL found insufficient evidence of a violation of the policy, according to Mike Garafolo of NFL Network.
Merritt was charged in April after he had been accused of causing bodily harm to his daughter. He pleaded not guilty, and the case was dismissed in May.
The NFL sometimes imposes league discipline even if a player or coach does not face criminal charges, but in this case, Merritt is free to resume coaching.
The 54-year-old Merritt has been the Chiefs’ defensive backs coach since 2019. He has previously held NFL coaching jobs with the Cardinals, Giants and Jets, and spent time as a college assistant coach. He was a 1993 seventh-round pick of the Dolphins and had a brief NFL playing career before going into coaching.
Chiefs receiver Rashee Rice is currently serving a 30-day jail sentence for violating his probation, a fact made more complicated by Rice having recently undergone a procedure on his knee.
With the Chiefs’ offseason program coming to a close, head coach Andy Reid told reporters that head trainer Rick Burkholder has been more in contact with Rice, who has been able to do some rehab activities.
“Just making sure that everything was set there where he could do some rehab with it, and still do the time that he needed to take care of. So, he’s on top of that,” Reid said. “Thank goodness that they’re allowing him to do it. They’ve been great with that.”
As for Rice’s return to the field, Reid said he thinks the wideout will be ready for training camp.
“He gets out [of jail] here somewhere in this next week,” Reid said. “So, we’ll see where it goes from there. He’ll be back up here and working.”
Rice was on probation after pleading guilty to charges arising from a March 2024 street-racing incident in Dallas. He served a six-game suspension to begin the 2025 season.
Offensive tackle Wanya Morris wanted to move on from the Chiefs and he’ll be doing so in the near future.
Jeremy Fowler of ESPN reports that the Chiefs have agreed to trade Morris to the Falcons. Per multiple reports, the Chiefs will receive a 2027 sixth-round pick while also sending a 2027 seventh-round selection to Atlanta.
Word earlier this week was that the Chiefs and Morris had agreed to look for trade options.
Morris started 11 games for the Chiefs during the 2024 season and started 16 of his 43 overall appearances for the AFC West club. Falcons right tackle Kaleb McGary retired this offseason, so Morris will join Jake Matthews, Jawaan Taylor, Storm Norton, Michael Jerrell and Jack Nelson as the team’s tackle options.
Darron Lee, a first-round pick of the Jets in 2016, has formally been indicted on a charge of first-degree murder in connection with the death of his girlfriend, Gabriela Perpetuo.
Via News Channel 9, a Hamilton County, Tennessee grand jury returned the indictment on Wednesday. Previously, prosecutors did not rule out seeking the death penalty.
The case includes evidence that Lee had consulted ChatGPT on how to deal with a person who is unresponsive. Lee also allegedly asked ChatGPT about the injuries that would be consistent with someone falling in the shower.
Prosecutors have dismissed a separate charge of tampering with evidence.
Separately, Perpetuo’s estate has filed a $50 million wrongful death lawsuit against Lee.
Lee played three years with the Jets, one with the Chiefs, and one with the Bills. He last played in 2020.
