Patrick Mahomes Tops QB Salary Rankings Again Following Recent Contract Adjustment

The Kansas City Chiefs have once again elevated Patrick Mahomes' salary, ending a brief reign by Dallas Cowboys quarterback Dak Prescott. The Chiefs' management, led by the Hunt family, must feel fortunate, having secured a multi-MVP and Super Bowl champion while avoiding competition from other franchises for top quarterback salaries.

On Wednesday, Mahomes and the Chiefs finalized a revised contract, solidifying his status as the highest-paid player in NFL history. This new agreement, worth $504 million over eight years, provides Mahomes an average of approximately $63 million annually, surpassing Prescott's previous record of $60 million.

The latest deal extends Mahomes' contract, originally signed in July 2020 for $450 million over ten years, until the 2033 season. The restructuring in September 2023 had already shifted $48 million into the upcoming four years, guaranteeing him $208 million and effectively awarding him $52 million per year during those remaining seasons.

In contrast, Prescott’s four-year, $240 million extension, which he signed in September 2024, had briefly placed him ahead of the prior top quarterback, Joe Burrow, by $5 million annually. Other notable quarterbacks, including Buffalo's Josh Allen, have since signed contracts that either matched or fell below Burrow's deal.

Following the recent adjustments, Mahomes has reclaimed his position at the top of the salary hierarchy for quarterbacks. Before this deal, he had slipped to the 13th highest-paid QB in the league. Here’s a look at the current top ten quarterbacks by average salary:

Patrick Mahomes, Chiefs: $63.1 million per year
Dak Prescott, Cowboys: $60 million per year
Joe Burrow, Bengals: $55 million per year
Josh Allen, Bills: $55 million per year
Jordan Love, Packers: $55 million per year
Trevor Lawrence, Jaguars: $55 million per year
Matthew Stafford, Rams: $55 million per year
Jared Goff, Lions: $53 million per year
Brock Purdy, 49ers: $53 million per year
Justin Herbert, Chargers: $52.5 million per year