NFLN: Chiefs add two years to Patrick Mahomes' contract, making it first NFL deal valued at over $500 million

The Kansas City Chiefs have added two years to quarterback Patrick Mahomes' contract, creating a historic deal worth $504.75 million in total value — the first NFL contract to exceed $500 million. The new money added is worth $239.05 million, and all $504.75 million becomes fully guaranteed through contract mechanisms, with incentives potentially pushing the total to $522.25 million. Beginning in 2027, Mahomes' average annual value rises to $64 million, a $19 million-per-year increase that sets a new NFL record, surpassing Dak Prescott's $60 million per year.