Chiefs, Mahomes agree to 10-year, $503M extension
The Kansas City Chiefs made sure they’ll have Super Bowl MVP Patrick Mahomes around as long as possible.
Mahomes agreed to a 10-year extension worth up to $503 million, according to his agency, Steinberg Sports. The deal is worth $477 million in guarantee mechanisms and includes a no-trade clause and optout clauses if guarantee mechanisms aren’t met.
It’s the richest contract in professional sports history, surpassing Mike Trout’s $426.5 million deal with the Los Angeles Angels.
“Since he joined the Chiefs just a few years ago, Patrick has developed into one of the most prolific athletes in all of sports,” Chiefs chairman Clark Hunt said in a statement about the quarterback who led them to their first championship in 50 years.
“With his dynamic play and infectious personality, he is one of the most recognized and beloved figures to put on the Chiefs uniform. He’s an extraordinary leader and a credit to the Kansas City community, and I’m delighted that he will be a member of the Chiefs for many years to come.”
The Chiefs had the 2018 NFL MVP under contract for the next two seasons but that wasn’t nearly enough.
“Here to stay,” Mahomes wrote on Twitter.
The contract extension starts in 2022 when the NFL salary cap is projected to be $227.5 million. However, that number could be lower depending on revenue losses due to the cornonavirus pandemic and the possibility any games played this season won’t have fans.
Mahomes threw touchdown passes on consecutive fourth-quarter drives in rallying the Chiefs to their first Super Bowl title in 50 years and the first for coach Andy Reid. That comeback performance earned Mahomes the Super Bowl MVP award and only cemented his status as the face of the Kansas City franchise.
Reid said the best part is that Mahomes is still early in his career. Mahomes won’t turn 25 until Sept. 17.