The Chiefs gave TE Travis Kelce what might be his final NFL contract on Monday. Here’s why the future Hall of Famer is still one of the league’s top bargains.
The Kansas City Chiefs found a new wide receiver — first-round pick Xavier Worthy — for Patrick Mahomes in the 2024 NFL Draft.
On Monday, K.C. ensured that Mahomes should have his best weapon for the rest of his career.
The Chiefs gave future Hall of Fame tight end Travis Kelce a two-year extension today, handing the 34-year-old what could be the final contract of his NFL career.
Why Travis Kelce Is Still the NFL’s Best Bargain
NFL Network was the first to report news of Kelce’s new deal.
Kelce was already signed through the 2025 season, so Monday’s contract should take him through the 2027 campaign. While financial details haven’t been reported yet, Kelce is expected to become the league’s highest-paid tight end.
He’s currently the NFL’s fourth-highest-paid tight end, trailing the New York Giants’ Darren Waller ($17 million), the Minnesota Vikings’ T.J. Hockenson ($16.5 million), and the San Francisco 49ers’ George Kittle ($15 million).
Kelce is one of the league’s best values at his existing salary and will remain a bargain even after surpassing Waller at $17 million.
While Kelce took a step back in 2023 and failed to eclipse 1,000 receiving yards for the first time since 2015, he’s still the top target in Kansas City’s offense. Even at his advanced age, Kelce ranked second among TEs in yards (984), third in receptions (93), and fourth in yards per route run (1.92).
He’s almost always Mahomes’ primary read, and the Chiefs’ offense runs through Mahomes. That might change in the coming years if Worthy and fellow WR Rashee Rice start to dominate targets, but Kelce is still the No. 1 option in K.C.’s offensive attack.
The Chiefs have been saving money via Kelce’s contract for years. If he were labeled a wide receiver while posting 1,300+ yards, double-digit TDs, and earning All-Pro nods, he might be making close to $30 million annually by now.
Let’s imagine Kelce’s extension comes in around $17.5 million or $18 million per season. That’s roughly what the Cleveland Browns just gave Jerry Jeudy on his new contract. It’s close to what the Jacksonville Jaguars are paying for Christian Kirk. Both pass catchers are talented, but neither provide Kelce’s impact.
Moreover, if the Chiefs structure Kelce’s 2024 extension like his 2020 contract, his new deal might not even affect the club’s book this season.
The four-year, $57.25 million extension Kelce inked with Kansas City in 2020 didn’t contain a single dollar of new money that season. Most of the cash was tied up in future seasons that Kelce is only now reaching. The Chiefs eventually moved $3 million of future money into the 2022 season to give Kelce a raise.
