Chiefs, Patrick Mahomes agree to 10-year, $450 million extension
[ESPN]
The Chiefs and Super Bowl MVP quarterback Patrick Mahomes have reached agreement on a 10-year contract extension that ties him to Kansas City through the 2031 season, the team announced Monday.
League sources told ESPN’s Adam Schefter that the deal is worth $450 million over the 10-year period, with an injury guarantee in the contract of $140 million.
“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.”
Mahomes tweeted about the deal following its announcement Monday.
The Chiefs picked up Mahomes’ fifth-year option for the 2021 season in April, putting him under contract for the next two seasons. Mahomes had two years and $27.6 million left on his existing deal — $2.8 million this year, $24.8 million in 2021. The 10-year extension puts him under contract with the Chiefs for the next 12 seasons.
With a payout of at $477.6 million over the next 12 seasons, Mahomes will have the largest contract in American professional sports. Mike Trout had previously held that distinction when he signed a 12-year, $426.5 million contract with the Los Angeles Angels in March 2019. Trout’s contract is fully guaranteed, however.
Mahomes becomes the fourth quarterback since 2011 to receive an extension before the start of his fourth season, joining Ryan Tannehill (Miami Dolphins in 2015), Carson Wentz (Philadelphia Eagles in ’19) and Jared Goff (Los Angeles Rams in ’19).
The Chiefs had said they intended to sign their franchise quarterback to an extension but had previously indicated it might not happen until after this season.
Mahomes, 24, was MVP of Kansas City’s 31-20 victory over the San Francisco 49ers in Super Bowl LIV, becoming the first quarterback in NFL history to win a league MVP and Super Bowl before turning 25.
Mahomes became the youngest quarterback to be named Super Bowl MVP, helping the Chiefs erase a 10-point fourth-quarter deficit by leading three touchdown drives. He finished 26-of-42 for 286 yards with three total touchdowns (two passing, one rushing), two interceptions and a 78.6 passer rating. He joined Tom Brady (Super Bowl XLIX) and Terry Bradshaw (XIV) as the only players to win Super Bowl MVP despite throwing multiple interceptions.
Mahomes was named the NFL MVP after the 2018 season, when he led the NFL with 50 touchdown passes and threw for 5,097 yards in his first full season as a starter.
The Chiefs traded up in the 2017 draft to select Mahomes with the 10th overall pick. He sat out for most of his rookie season behind starter Alex Smith, starting in only the season finale when the Chiefs rested their starters.
The Chiefs traded Smith to the Washington Redskins before the following season, making Mahomes the starter.
Overall, Mahomes has thrown for 9,412 yards with 76 touchdowns and 18 interceptions in 31 regular-season games. In five playoff games, he has thrown for 1,474 yards with 13 touchdowns and two interceptions.