Patrick Mahomes Becomes First NFL Player with Half-Billion-Dollar Contract

Kansas City Chiefs quarterback Patrick Mahomes has achieved another historic first.

Per ESPN's Adam Schefter and NFL Network's Ian Rapoport, Mahomes and the Chiefs agreed to a restructured contract that increases the value of his deal to a whopping $504.75 million.

With the agreement, the three-time Super Bowl champion is the first NFL player to land a contract worth at least half a billion dollars.

The Chiefs added $239.05 million to Mahomes' contract, increasing the value to $504.75 million and keeping him under contract through 2033. Every penny of the contract is "guaranteed through mechanisms," Schefter and Rapoport. added.

After leading the Chiefs to a Super Bowl 54 championship in the 2019 season, Mahomes signed a lucrative 10-year extension worth up to $450 million. Per Spotrac.com, Buffalo Bills QB Josh Allen has the second-biggest QB deal ever (signed in 2025) at $330 million over six years.

Chiefs Hope Patrick Mahomes Will Be Ready for Week 1

Mahomes suffered a season-ending ACL tear in the Chiefs' Week 15 home loss to the Los Angeles Chargers, a game that eliminated them from postseason contention.

On May 28, Mahomes told reporters that he's "in a good spot" with his rehab and is hopeful about returning for Week 1. The Chiefs kick off the 2026 campaign with a Monday Night Football home clash against the AFC West rival Denver Broncos on Sept. 14.

This story was originally published by Men's Journal on Jun 10, 2026, where it first appeared in the News section. Add Men's Journal as a Preferred Source by clicking here.

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This story was originally published June 10, 2026 at 2:11 PM.