Patrick Mahomes is the highest-paid player in the history of professional sports — and his contract with the Kansas City Chiefs remains the most talked-about, most restructured, and most complex deal the NFL has ever seen. In 2026, with Mahomes rehabbing from a torn ACL and the Chiefs working overtime to manage their salary cap, the financial story behind the league’s biggest star has never been more important to understand.
Here is everything you need to know about Patrick Mahomes’ contract — from how it started to what it looks like right now.
The Original Deal: 10 Years, $450 Million
On July 6, 2020, Patrick Mahomes signed a 10-year, $450 million contract extension with the Kansas City Chiefs — the largest contract in the history of professional sports at the time. The deal included a $10 million signing bonus, $141.4 million guaranteed at signing, and an average annual value of $45 million per year. It tied Mahomes to Kansas City through the 2031 season.
The contract was groundbreaking not just for its size but for its structure. It includes rolling guarantees that activate each year, meaning more and more of the deal becomes fully guaranteed as the seasons go on.
Patrick Mahomes Contract Comparison Table
| Detail | Figure |
|---|---|
| Contract Type | 10-Year Extension |
| Total Value | $450 Million |
| Average Per Year | $45 Million |
| Signing Bonus | $10 Million |
| Guaranteed at Signing | $141.4 Million |
| Contract Runs Through | 2031 Season |
| 2026 Cap Hit (after restructure) | $34.65 Million |
| 2026 Cap Hit (before restructure) | $78.2 Million |
| 2027 Projected Cap Hit | $85.25 Million |
The 2026 Restructure: Saving $43.56 Million
This is the biggest contract news of the 2026 offseason. The Chiefs converted $54.45 million of Mahomes’ 2026 base salary into a signing bonus, freeing up $43.56 million in cap space. Before the restructure, Mahomes was set to carry a massive $78.2 million cap hit in 2026. After it, that number drops to a far more manageable $34.65 million.
This is not the first time Kansas City has done this. Mahomes has now had his contract restructured in the 2021, 2023, 2024, 2025, and 2026 offseasons — five times in total. Every restructure pushes money into future years, which is why his 2027 cap hit is now projected at $85.25 million — a problem the Chiefs will have to solve next offseason.
Kansas City entered the 2026 offseason roughly $58 million over the projected salary cap. The Mahomes restructure was the single biggest move to get them toward compliance.
What Does Mahomes Actually Earn in 2026?
In 2026, Mahomes earns a base salary of $1.3 million, a restructure bonus of $54.45 million, and a $1 million workout bonus. His total cash earnings for the year come to approximately $56.75 million — making him one of the highest cash earners in the NFL despite the lower cap number. He also has a $1.25 million playoff bonus available if the Chiefs win the AFC Championship Game.
The Injury Factor: ACL and LCL Tear
Any discussion of Mahomes’ 2026 situation must include his injury. On December 14, 2025, Mahomes tore his ACL and LCL in his left knee during a Week 15 loss to the Los Angeles Chargers — an injury that ended his season and snapped the Chiefs’ decade-long playoff streak. Kansas City finished 6-11, their worst record since Mahomes was drafted.
Mahomes underwent surgery in Dallas the following day with orthopedic surgeon Dr. Dan Cooper. Rehabilitation began almost immediately. The typical recovery timeline for a combined ACL and LCL repair is around nine months — which lines up almost exactly with the start of the 2026 NFL season in September.
As of April 2026, Mahomes is attending the Chiefs’ offseason program and working daily with the team’s training staff in Kansas City. He has publicly stated his goal is to be ready for Week 1 with no restrictions. Coach Andy Reid said: “He’s doing great, but we’ve just got to be smart with this thing.” Mahomes himself said: “Knowing me, I’m going to push it to the exact limit every single day.”
As insurance, the Chiefs acquired Justin Fields from the New York Jets in a trade, giving Kansas City a capable backup if Mahomes needs additional recovery time.
What Happens to the Contract Through 2031?
The rolling guarantee structure of Mahomes’ deal means the contract essentially locks in year by year. Here is how the key guarantee triggers work going forward:
On the third day of the 2026 league year, his 2026 salary and his $49.4 million 2027 roster bonus became fully guaranteed. On the third day of the 2027 league year, his entire 2028 salary and bonuses will become guaranteed. This pattern continues through 2031, when the final year of his deal becomes fully locked in.
In practical terms: barring an extraordinary circumstance, Mahomes will be a Chief through 2031. The contract is structured so that cutting him at any point would result in catastrophic dead-cap penalties — the dead cap value in 2026 alone is over $130 million.
Is Mahomes Still Worth the Money?
Before his injury, the answer was an emphatic yes. In 14 games during the 2025 season, Mahomes completed 62.7% of his passes for 3,587 yards, 22 touchdowns and 11 interceptions. He also added 422 rushing yards and five touchdowns on the ground. His QBR of 68.5 ranked sixth among qualified quarterbacks — elite production even in a lost season for Kansas City.
He remains a three-time Super Bowl champion, two-time NFL MVP, and the defining quarterback of his generation. At 30 years old, he is arguably in the prime of his career. The ACL injury is serious, but Mahomes’ recovery attitude and physical profile give the Chiefs every reason to be optimistic.
Frequently Asked Questions
How much is Patrick Mahomes’ contract worth?
Mahomes signed a 10-year, $450 million contract extension with the Kansas City Chiefs in 2020. The deal includes $141.4 million guaranteed and runs through the 2031 season.
What is Mahomes’ cap hit in 2026?
After a restructure in February 2026, Mahomes carries a $34.65 million cap hit — down from a pre-restructure number of $78.2 million.
How many times has Mahomes’ contract been restructured?
Five times — in 2021, 2023, 2024, 2025, and 2026. Each restructure converts base salary into a signing bonus to free up immediate cap space while pushing money into future years.
What is Mahomes’ injury status for 2026?
Mahomes tore his ACL and LCL on December 14, 2025. He is currently rehabbing and has publicly stated his goal is to be ready for Week 1 of the 2026 season. As of April 2026, he is attending the Chiefs’ offseason program and progressing well.
What is Mahomes’ 2027 cap hit?
Following the 2026 restructure, Mahomes is projected to carry an $85.25 million cap hit in 2027 — a significant challenge the Chiefs will need to manage, likely through another restructure.
How long is Mahomes under contract with the Chiefs?
Through the 2031 season. Due to the rolling guarantee structure and the massive dead-cap numbers involved, he is effectively a Chief for the rest of his career.
What was Mahomes’ salary in 2025?
Mahomes was the highest-paid player in football in 2025, earning $50 million in football-related income according to Forbes.