Kansas City will get to watch Patrick Mahomes sling the pigskin for the next dozen seasons.
The Chiefs and the quarterback reached an agreement on a 10-year contract extension that will keep the Super Bowl Most Valuable Player in K.C. through the 2031 season, NFL Network's Michael Silver reported, per a source informed of the deal. It is worth a colossal $503 million with $477 million in guarantee mechanisms which gives Mahomes the ability to have outs if the mechanisms are not exercised, NFL Network Insider Ian Rapoport and NFL Network's Tom Pelissero reported.
It is the largest contract in sports history as Mahomes becomes the first athlete with a half-billion-dollar contract and the first NFL player to be the highest-paid athlete in the sports world.
Highest Total Value of Contract
Sports History (per Forbes)
Years Total Value
NFL Patrick Mahomes* *10* *$450.0M
BOX Floyd Mayweather 2.5 $450.0M
MLB Mike Trout 12 $426.5M
BOX Canelo Alvarez 5 $365.0M
MLB Bryce Harper 13 $330.0M
MLB Giancarlo Stanton 13 $325.0M
MLB Gerrit Cole 9 $324.0M
MLB Manny Machado 10 $300.0M
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The Chiefs later made the extension official.
The Chiefs' all-world quarterback gets $450 million "in so-called new money" over the 10-year extension, Pelissero clarified, in addition to the $28 million covered by the two remaining years on his rookie contract. Mahomes, the No. 10 pick in the 2017 NFL Draft, will get a $10 million signing bonus, then has large roster bonuses on a rolling guaranteed basis in future years, which includes a massive $49.4 million bonus due in 2026, Pelissero explained. There is also $25 million in incentives tied to winning the MVP and reaching the Super Bowl starting in the 2022 season. Upon signing, Mahomes gets just more than $63 million and just north of $103 million by March, Pelissero outlined. The contract leaves the Chiefs with a lot of short-term flexibility as nearly the whole deal is conditionally guaranteed, Pelissero said. Per Rapoport, by March, there is no trade clause in the deal.
ESPN first reported the extension news.
Mahomes tweeted out a reaction video that ended with: "And we're staying together … for a long time. We're chasing a dynasty."
As expected, the contract will make the 2018 NFL MVP the richest player in league history and the NFL world reacted in appreciation and amazement.
"I've had the privilege of coaching a lot of incredible athletes and special people in my career, and Patrick is without question on that list of players." Chiefs head coach Andy Reid said in the team statement. "The best part is he's still early in his career. He's a natural leader and always grinding, whether that's on the field, in the weight room or watching film, he wants to be the best. He's a competitor and his teammates feed off his energy. He makes us all better as an organization and we are blessed he's going to be our quarterback for years to come."
A 10-year agreement is nearly unheard of in the current era of free agency when some players are signing shorter deals to get more bites at the free-agent apple -- think Kirk Cousins in Minnesota.
The deal comes before training camp, which was the desire for the Chiefs and Mahomes, according to NFL Network's James Palmer.
It is a deal largely unlike any before it.
Since 2000, Brett Favre ($100 million in 2001), Drew Bledsoe ($103M, 2001), Daunte Culpepper ($102M, 2003) and Michael Vick ($130M, 2004) have signed 10-year contracts, per NFL Research. Donovan McNabb inked a 12-year deal worth $115 million in 2002. Among current active contracts, Mahomes' 10-year extension bests Tyron Smith's eight-year deal in Dallas (14 others are tied with six-year pacts).
After famously sitting his first season, Mahomes has set the NFL on fire the past two years, earning two Pro Bowl bids, first-team All-Pro honors in 2018, the NFL MVP, the Super Bowl MVP and a Lombardi Trophy. In just two seasons as a starter, Mahomes already has made more "OH MY Gooooooodness, did he just do THAT?!?" plays that some quarterbacks make in an entire career.
Mahomes averages 302.4 passing yards per game, including playoffs, the most in NFL history, per NFL Research. The youngest player to win the Super Bowl MVP also currently enjoys the highest passer rating in NFL history at 108.9 (No. 2 on the list is Aaron Rodgers at 102.4). In 2018, Mahomes joined Peyton Manning (2013) as the only two players in NFL history to post 5,000 passing yards and 50-plus TDs in a season. Mahomes has 9,412 pass yards in 31 career regular-season starts (the most among players in first 31 starts since 1950).
The Chiefs have led the NFL with 31.2 points per game since Mahomes became the starter and also rank No. 1 in yards per play (6.5) and third-down percentage (47.4) since his promotion.
Mahomes' new deal puts a stamp on the fact that the Chiefs quarterback is the new face of the NFL along with other young signal-callers like Deshaun Watson and Lamar Jackson. Mahomes is a player who can make every throw look easy, has a rocket for an arm that makes SpaceX researchers jealous, is as intelligent as they come and is the model teammate.
Turning 25 in September, Mahomes will be 36 when his new contract ends. In today's NFL, that's considered middle-aged.
The Chiefs never shied away from the fact that they'd have to make Mahomes the highest-paid player in NFL history. The team knew what it'd take to ensure a once-in-a-generation talent like Mahomes went nowhere.
Mahomes puts butts in the seats. The Chiefs ensured he'll keep awing fans in K.C. for the next decade-plus.
Said Chiefs chairman and CEO Clark Hunt in a statement: "This is a significant moment for our franchise and for the Chiefs Kingdom."
Insights, advice, suggestions, feedback and comments from experts
As an expert in NFL football and a passionate enthusiast of the sport, I'm thrilled to share some insights about the recent contract extension of Patrick Mahomes with the Kansas City Chiefs. This groundbreaking deal solidifies Mahomes' position as one of the most talented quarterbacks in the league and showcases the Chiefs' commitment to building a dynasty.
The agreement between Mahomes and the Chiefs spans an unprecedented 10 years, keeping the Super Bowl Most Valuable Player in Kansas City through the 2031 season. The contract is valued at a staggering $503 million, with $477 million guaranteed, making it the largest contract in sports history. This milestone not only establishes Mahomes as the first athlete to sign a half-billion-dollar contract but also makes him the highest-paid athlete in the world.
The terms of the contract include a signing bonus of $10 million and significant roster bonuses in the coming years, with a massive $49.4 million bonus due in 2026. Additionally, there are $25 million in incentives tied to winning the MVP and reaching the Super Bowl, starting from the 2022 season. Upon signing, Mahomes will receive over $63 million, and by March, he will have earned north of $103 million.
What sets this contract apart is its conditional guarantees, which provide the Chiefs with short-term flexibility. According to Tom Pelissero of NFL Network, nearly the entire deal is conditionally guaranteed, offering the team financial security while still allowing for potential adjustments down the line. Furthermore, there is no trade clause in the contract, ensuring Mahomes' long-term commitment to the Chiefs.
The NFL world has reacted with awe and appreciation to this historic contract. Chiefs head coach Andy Reid, who has coached numerous exceptional athletes, praised Mahomes' talents, leadership, and work ethic. Reid expressed his gratitude for having Mahomes as the team's quarterback and believes that the young player's competitive spirit elevates the entire organization.
It's worth noting that a 10-year agreement is rare in the current era of free agency, where players often sign shorter contracts to maximize their opportunities in the market. Mahomes' extension breaks the mold, and it is reminiscent of long-term deals signed by legendary quarterbacks such as Brett Favre, Drew Bledsoe, and Daunte Culpepper in the early 2000s.
Since his breakout season in 2018, Mahomes has electrified the NFL with his exceptional skills and highlight-reel plays. He has already earned two Pro Bowl selections, first-team All-Pro honors, the NFL MVP award, and a Super Bowl MVP title. With an average of 302.4 passing yards per game, including playoffs, Mahomes holds the record for the most passing yards per game in NFL history. He also boasts the highest passer rating in NFL history at 108.9.
The Chiefs' offensive prowess under Mahomes' leadership is undeniable. Since he became the starter, the team has averaged 31.2 points per game, leading the league in scoring. Additionally, they rank first in yards per play (6.5) and third-down conversion percentage (47.4%), showcasing Mahomes' ability to lead his team to success on the field.
Mahomes' new contract solidifies his status as the new face of the NFL, alongside other young quarterbacks like Deshaun Watson and Lamar Jackson. His exceptional talent, arm strength, intelligence, and team-oriented attitude make him a role model for aspiring athletes. At only 25 years old, Mahomes will be 36 when his contract expires, highlighting the long-term commitment the Chiefs have made to their franchise quarterback.
The Chiefs' chairman and CEO, Clark Hunt, expressed his excitement about the extension, recognizing it as a significant moment for the franchise and the entire Chiefs Kingdom. With Mahomes' electrifying performances, he has become a fan favorite and a driving force behind the team's success. The contract ensures that Mahomes will continue to awe and inspire fans in Kansas City for the next decade and beyond.
In conclusion, Patrick Mahomes' contract extension with the Kansas City Chiefs represents a groundbreaking moment in the history of sports. The colossal financial commitment reflects Mahomes' exceptional talent and the Chiefs' unwavering belief in his abilities. With this historic deal, Mahomes has solidified his place as one of the most influential and exciting players in the NFL, and his future with the Chiefs promises to be filled with continued success and the pursuit of a dynasty.
