There's no quarterback like Patrick Mahomes, and now there's no contract like his, either.
The Kansas City signal-caller, fresh off a miraculous Super Bowl run and a year removed from being named NFL MVP, has agreed to a 10-year contract extension with the club. The deal was first reported by ESPN's Adam Schefter.
Chiefs and QB Patrick Mahomes have reached agreement on a 10-year -- 10-year! -- contract extension that ties him to Kansas City through the 2031 season, league sources tell ESPN.
— Adam Schefter (@AdamSchefter) July 6, 2020
The pact reportedly is worth a maximum of $503 million, which would make this the richest contract in North American sports history in terms of overall dollars. Mike Trout's 12-year, $426 million extension with MLB's Los Angeles Angels had led the list.
The #Chiefs and QB Patrick Mahomes have agreed to terms on a 10-year extension worth $503 million, sources tell me and @TomPelissero. He gets $477M in guarantee mechanisms and gives the ability for Mahomes to have outs if the guarantee mechanisms aren’t exercised. No trade clause
— Ian Rapoport (@RapSheet) July 6, 2020
Final Patrick Mahomes’ deal:
— Adam Schefter (@AdamSchefter) July 6, 2020
10-year extension worth up to $503 million.
It includes $477 in guarantee mechanisms and the ability for Mahomes to have outs if guarantee mechanisms aren’t exercised.
Mahomes was represented on the deal by @chriscabott and @leighsteinberg.
ProFootballTalk.com reported Mahomes' contract breaks down this way:
- $10 million signing bonus.
- $124.7 million in base salaries.
- $337.2 million in roster bonuses.
- $5.6 million in workout bonuses.
- $25 million in incentives.
Now that KC has announced the agreement, Mahomes is in a position to stay in a Chiefs uniform for the next 12 years.
We have signed QB Patrick Mahomes to a 10 year extension. Mahomes secured with Chiefs for the next 12 seasons. pic.twitter.com/ZsADdVkvxZ
— Kansas City Chiefs (@Chiefs) July 6, 2020
Here to stay. . .! ⏰⏰ pic.twitter.com/mfwMga3Kl0
— Patrick Mahomes II (@PatrickMahomes) July 6, 2020
The sides had a mutual desire to get a long-term deal done, and they expressed it after the Chiefs exercised the fifth-year option on Mahomes' rookie contract last April. The option for the 2021 season was worth an estimated $25 million.
MORE: Here are the NFL's highest-paid quarterbacks
In two years as Kansas City's No. 1 signal-caller, the Texas Tech product has thrown 76 touchdowns, including a rookie-record 50 in his first full season in 2018. Mahomes missed time in 2019 with an injured knee but still threw 26 touchdowns to just five interceptions, and Kansas city was 11-3 in games he started.
