It could be time for the Kansas City Chiefs to update superstar quarterback Patrick Mahomes’ contract… again.
The San Francisco 49ers signed QB Brock Purdy to a five-year, $265 million contract extension on May 16. Just after the news on May 17, Pro Football Talk insider Mike Florio laid out how Purdy’s new deal could impact other quarterbacks around the league, including Mahomes.
“With the 49ers and Brock Purdy working out a long-term deal, there’s no other quarterback currently expected to get one in the immediate future,” Florio wrote. Before adding: “Yes, there could be a tweaking of the ultra-long-term Patrick Mahomes contract, especially after the [Buffalo] Bills tore up the last years of Josh Allen’s deal and replaced it with a $55 million-per-year-from-signing package.”
“As it relates to guys who have never gotten a second deal, no one else is waiting to get paid,” Florio continued. “The next one to get a new deal will be [Houston] Texans quarterback C.J. Stroud. He’ll become eligible after the 2025 regular-season finale.”
As for the more veteran superstars of the QB landscape, like Mahomes, Florio highlighted Lamar Jackson, Jalen Hurts and Joe Burrow as candidates for contract “corrections.”
“The big quarterback contract wheels will always keep on turning,” the insider concluded. “For now, though, the Purdy deal seems to press pause on the process — unless and until Mahomes or Jackson or someone else in his second [contract] decides to make a play for another new contract before training camp opens.”
Chiefs QB Patrick Mahomes Has Fallen out of Top 10 for Average Annual Quarterback Salary
If you poll the league on the best quarterbacks, Mahomes is undoubtedly top three, and most would still rank him No. 1 overall. And yet, the Chiefs signal-caller finds himself outside the top 10 for average annual salary at his position.
According to Over the Cap, Mahomes’ $45 million per year places him tied for 13th behind Cleveland Browns QB Deshaun Watson — who is expected to miss the entire 2025 campaign with injury. And the quarterback he’s tied with, Kirk Cousins, is currently a backup.
Mahomes has always made it clear that he’d rather win Super Bowls than top his position in terms of salary, but there should still be a happy medium, and his current AAV ranking is far too low.
We’ll see if Mahomes pushes for a revision sometime this summer, as Florio alluded, or if he’ll decide to wait it out another year. Either way, another Patrick Mahomes contract revision is coming sooner rather than later.
Patrick Mahomes’ Contract With Chiefs Runs Through 2031 Season
So, if Kansas City were to revise Mahomes’ current contract, what might it look like? The Chiefs could add years to Mahomes’ deal at some point, as the Bills did for Allen in March.
Buffalo extended two years onto the back end of Allen’s contract, while also awarding him more money in the process.
Mahomes’ current agreement voids in 2032 and takes the QB through his age-36 season in 2031. But Mahomes has already made it clear that he’s aiming to play into his 40s.
The Chiefs could get ahead of the game and tack on a few years now, as they’ve done in the past.
As always, a long-term contract extension would give KC opportunities for cap relief. The Chiefs restructure Mahomes’ current deal most offseasons, and that is unlikely to change in the future.
An updated agreement would simply reward the three-time Super Bowl MVP for all of his hard work and sacrifices.
