The Kansas City Chiefs and star quarterback Patrick Mahomes have agreed to a massive 10-year contract extension tying the two together until 2031. This will add on to the two years remaining on his current contract for a total of 12 more years. The 10-year extension, according to Ian Rapoport, is worth $503 million. Despite initial rumors, the value of the contract will not involve a percentage of the salary cap. This will be the richest deal in sports history.
What’s the guarantee mechanism? Basically, the team guarantees Patrick Mahomes' salary a year out. And if they don’t pick up each guarantee, they have to cut him (to avoid picking up the future guarantee). https://t.co/dSzKmS7wbM
— Ian Rapoport (@RapSheet) July 6, 2020
Patrick Mahomes Contract Extension
As first reported by Adam Schefter, the new contract will begin once Mahomes plays out the final two years on his rookie deal he signed after being drafted in 2017. In the three years since draft day, Mahomes has won the following awards: NFL Offensive Player of the Year (2018) NFL MVP (2018), Super Bowl LIV, and Super Bowl LIV MVP. He also was named First-Team All-Pro in 2018 while being named to the Pro Bowl in 2018 and 2019. He also threw for over 5,000 yards in his first full season as a starter. In his Super Bowl victory, he brought his team back from a 20-10 deficit.
In his two years as a starter, Mahomes has become arguably the best quarterback in the NFL, throwing for 76 touchdowns and 17 interceptions. Now, his contract will reflect that making him the NFL’s highest-paid quarterback.
Mahomes becomes only the fifth quarterback in the last 20 years to sign a 10+ year contract joining Drew Bledsoe, Brett Favre, Donovan McNabb, Michael Vick, and Daunte Culpepper. Mahomes’ contract extension will not expire until he reaches the age of 37.
The Kansas City Chiefs have locked up a key part of their franchise’s future as Patrick Mahomes will look to capture more accolades in the duration of his deal; and he will have plenty of time to do so as well.
Embed from Getty Images