Andy Reid contract extension: Chiefs make Super Bowl-winning coach highest paid in NFL ahead of 2024 draft

Chiefs coach Andy Reid faced questions about retirement after each of Kansas City’s last two Super Bowl runs. But the future Hall of Famer isn’t going anywhere just yet.

Reid signed a new contract with the Chiefs on Monday, inking an extension along with GM Brett Veach and president Mark Donovan. With the deals, the back-to-back defending champions are keeping their brain trust intact for the long term.

With exits by Bill Belichick and Pete Carroll in January, Reid, 66, is set to enter the 2024 season as the NFL’s oldest active head coach and its third-longest tenured.

Reid has been with the Chiefs since 2013, and he’s entering his 12th season in 2024. His tenure in Kansas City is only shorter than Mike Tomlin’s time with the Steelers (18th) and John Harbaugh’s time with the Ravens (17th).

With or without an extension, Reid’s exit from Kansas City was always going to be on his own terms. That’s the right three Super Bowl wins can earn a coach. And with his extension, that day doesn’t appear to be coming anytime soon.

Here are the details on Reid’s contract extension with the Chiefs and what it means for his future.

Reid signed a contract extension that runs through 2029 and makes him the highest-paid coach in the NFL, NFL Network’s Tom Pelissero reported Monday. Reid will be 71 when the deal ends.

Reid released a statement via the Chiefs upon the announcement of the extension, explaining that he’s “incredibly grateful to Clark [Hunt] and the entire Hunt family for giving me the opportunity to lead this historic franchise.”

The 66-year-old also thanked his agent and called Chiefs Kingdom “a special place” to stay long-term.

While the exact financials of Reid’s deal aren’t known, it would have been hard to imagine any way a new contract wouldn’t make him the league’s highest-paid coach. Three championships in five seasons speak for themselves, and the Chiefs’ brand has exploded under Reid and QB Patrick Mahomes.

Andy Reid coaching record
Seasons Team W L T Pct.
1999-2012 Eagles 130 93 1 .583
2013-present Chiefs 128 51 0 .715
Career 258 144

Reid ranks fourth in NFL history with 258 career wins. He needs 44 more wins just to catch Belichick and move up to third and 71 more wins to set the all-time wins record.

A record could still be in the cards for Reid if he coaches for the duration of his new contract, but 300 wins is a more realistic goal for the time being.

Highest-paid NFL head coaches
It’s not common for exact salary figures to be released for NFL head coaches, but there’s no doubt Reid is receiving a significant pay increase if he’s becoming the NFL’s new highest-paid coach.

Denver’s Sean Payton was reportedly the NFL’s highest-paid coach before Reid’s extension, with a salary of approximately $18 million per year, per Sportico. Sportico listed a $15 million annual salary for Rams coach Sean McVay and $14 million for 49ers coach Kyle Shanahan.

Belichick was making about $20 million to $25 million per year with the Patriots before his exit from New England, while Carroll was on the books for a reported $15 million in Seattle in 2023.

Reid now is likely making an annual salary at least in the ballpark of Belichick’s Patriots deal, and it’s well-earned. Reid, with the help of Mahomes, has turned the Chiefs into this era’s Patriots as the team the rest of the league is gunning for. Until the Chiefs’ engine stops roaring, it’s hard to blame Reid for wanting a salary that matches Kansas City’s success.

Highest-paid NFL head coaches
It’s not common for exact salary figures to be released for NFL head coaches, but there’s no doubt Reid is receiving a significant pay increase if he’s becoming the NFL’s new highest-paid coach.

Denver’s Sean Payton was reportedly the NFL’s highest-paid coach before Reid’s extension, with a salary of approximately $18 million per year, per Sportico. Sportico listed a $15 million annual salary for Rams coach Sean McVay and $14 million for 49ers coach Kyle Shanahan.

Belichick was making about $20 million to $25 million per year with the Patriots before his exit from New England, while Carroll was on the books for a reported $15 million in Seattle in 2023.

Reid now is likely making an annual salary at least in the ballpark of Belichick’s Patriots deal, and it’s well-earned. Reid, with the help of Mahomes, has turned the Chiefs into this era’s Patriots as the team the rest of the league is gunning for. Until the Chiefs’ engine stops roaring, it’s hard to blame Reid for wanting a salary that matches Kansas City’s success.