Patrick Mahomes has established himself not only as one of the NFL’s best quarterbacks, but as one of the best in league history.

Through his first seven seasons, Mahomes has won three Super Bowls, three Super Bowl MVPs and two NFL MVPs. He has a chance to earn a fourth Lombardi Trophy in 2025 – which would match Joe Montana and Terry Bradshaw for the second-most Super Bowl wins by a starting quarterback in NFL history – before he turns 30.

Naturally, Mahomes’ success led him to become one of the best compensated players in the NFL. But while his overall contract has yet to be matched, he quickly became a bargain for the Kansas City Chiefs relative to other players at the position.

Here’s what to know about Mahomes’ deal with Kansas City and how it compares to other top-paid quarterbacks across the NFL.

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Patrick Mahomes contract details

Mahomes signed a 10-year, $450 million extension with the Chiefs in July 2020, just about five months after the quarterback led Kansas City to a Super Bowl 54 win over the San Francisco 49ers.

Below is a breakdown of Mahomes’ deal with the Chiefs, per Spotrac.com.

Term: 10 years
Total value: $450 million
Average annual value (AAV): $45 million
Guaranteed money: $141.5 million

At the time, the deal made Mahomes the highest-paid quarterback in NFL history. He has since been surpassed in annual earnings by numerous signal-callers, but his overall deal remains the richest in NFL history.

The Chiefs also restructured Mahomes’ contract early during the 2023 NFL season. The new deal moved some money around to ensure Mahomes would earn $210.6 million over the 2023-26 seasons. That brought the yearly value of his deal closer to roughly $52.65 million – which was closer to that of the highest-paid quarterbacks in the league – though his deal remains on the books as a 10-year, $450 million pact.

That said, NFL Network’s Ian Rapoport reported in 2023 that Mahomes and the Chiefs are expected to revisit the contract after the 2026 NFL season. That could position the 29-year-old to soon reset the quarterback market once again.

What is Patrick Mahomes’ 2024 salary?

Base salary: $9.85 million

Total cash earned: $45.75 million

Mahomes didn’t have a very high base salary for the 2024 NFL season. It checked in at just $9.85 million, though that wasn’t fully indicative of the cash the two-time MVP took home this season.

Mahomes received $45.75 million in total cash for the 2024 NFL season. Most of that came from the $27 million restructure bonus he received, per Spotrac.com, while he also received $8.9 million in combined roster and workout bonuses.

Mahomes carried a cap hit of $37.01 million in 2024, the second-highest of his career to date. His cap space is scheduled to balloon to just under $66.26 million in 2025, barring a restructure of his deal.

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NFL’s highest-paid QBs

There are several metrics used to measure the NFL’s highest-paid quarterbacks. Average annual value (AAV), total guarantees, and total contract value are the most popular among them, with AAV showing the best estimate of a quarterback’s yearly value.

Here’s a look at where Mahomes’ contract ranks among the NFL’s best compensated quarterbacks.

AAV

Mahomes’ $45 million in AAV is tied for the 12th-highest in the NFL. That said, it’s worth noting his restructured AAV of $52.65 million from 2023-26 would rank seventh league-wide.

Dak Prescott ($60 million) is currently the NFL’s highest-paid quarterback in terms of AAV.

Dak Prescott, Dallas Cowboys: $60 million
Joe Burrow, Cincinnati Bengals: $55 million
Trevor Lawrence, Jacksonville Jaguars: $55 million
Jordan Love, Green Bay Packers: $55 million
Tua Tagovailoa, Miami Dolphins: $53.1 million
Jared Goff, Detroit Lions: $53 million
Justin Herbert, Los Angeles Chargers: $52.5 million
Lamar Jackson, Baltimore Ravens: $52 million
Jalen Hurts, Philadelphia Eagles: $51 million
Kyler Murray, Arizona Cardinals: $46.1 million

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Guaranteed money

Mahomes’ guarantees are lagging behind his peers as well. His $141.5 million in practical guarantees ranks 13th league-wide. Below is a look at the top 10 guaranteed earners at quarterback:

Dak Prescott, Dallas Cowboys: $231 million

Deshaun Watson, Cleveland Browns: $230 million
Joe Burrow, Cincinnati Bengals: $219.01 million
Justin Herbert, Los Angeles Chargers: $218.74 million
Trevor Lawrence, Jacksonville Jaguars: $200 million
Lamar Jackson, Baltimore Ravens: $185 million
Jalen Hurts, Philadelphia Eagles: $179.4 million
Jared Goff, Detroit Lions: $170.61 million
Tua Tagovailoa, Miami Dolphins: $167.17 million
Jordan Love, Green Bay Packers: $160.3 million

Total contract value

Mahomes still ranks first in total contract value. His $450 million pact clears the NFL’s second-most lucrative contract – an honor shared by Joe Burrow and Trevor Lawrence – by a whopping $175 million.

Patrick Mahomes, Kansas City Chiefs: $450 million
Joe Burrow, Cincinnati Bengals: $275 million
Trevor Lawrence, Jacksonville Jaguars: $275 million
Justin Herbert, Los Angeles Chargers: $262.5 million
Lamar Jackson, Baltimore Ravens: $260 million
Josh Allen, Buffalo Bills: $258.04 million
Jalen Hurts, Philadelphia Eagles: $255 million
Dak Prescott, Dallas Cowboys: $240 million
Kyler Murray, Arizona Cardinals: $230.5 million
Deshaun Watson, Cleveland Browns: $230 million