KANSAS CITY, Mo. — The Chiefs and reigning NFL MVP Patrick Mahomes agreed to a restructure of his 10-year, $450 million contract that gives him a substantial boost in pay over the next four seasons, a person familiar with the contract told The Associated Press on Monday.
The person spoke to the AP on condition of anonymity because he was not authorized to discuss the contract.
Equity Sports CEO Chris Cabott, who has helped to represent Mahomes going back to his draft year, told ESPN that he will make $210.6 million from this season through the 2026 season, the most ever for a four-year span. That would represent a substantial increase over the salary on his latest deal, which ties him to the Chiefs through the 2031 season.
Cabott also said that the two sides were planning to revisit the contract once the next four seasons are played out.
Mahomes set the market with his original contract with Kansas City, but rapidly escalating salaries have continually pushed him down the list of the highest-paid at his position.
The Bengals' Joe Burrow shot to the top of the list when he signed his five-year, $275 million deal before the season, which equates to an average of $55 million per year.
Mahomes, a two-time MVP, won his second Super Bowl ring with a comeback win over Philadelphia in February.