Patrick Mahomes and the Kansas City Chiefs agreed to a 10-year contract extension worth $503 million, making it the most lucrative contract in sports history.
What We Know:
- According to ESPN’s Adam Schefter, Mahomes’ contract extension is worth $477 million and could reach up to $503 million with bonuses. The contract has a guarantee mechanism which guarantees his salary and bonus for every year at least a year in advance. The contract also ensures that Mahomes’ annual salary will always stay above certain thresholds in the NFL’s yearly salary cap.
- Mahomes was the 10th pick in the 2017 NFL Draft. His rookie contract was a 4-year deal worth $16.4 million. Mahomes broke out as a star during the 2018-2019 season. In his first year as a starter, he won league MVP and led the Chiefs to a Super Bowl Victory in 2020. He became the first player to win league and Super Bowl MVP before turning 25.
- Mahomes now joins the list of highest paid quarterbacks in the league. Seattle Seahawks QB Russell Wilson is currently the highest paid quarterback, with an annual salary of $35 million.
- Over the last two seasons, Mahomes has electrified the NFL with over 76 touchdowns. He threw 10 touchdowns this last postseason while leading the Chiefs in a thrilling comeback win against the San Francisco 49ers.
- Los Angeles Angels outfielder Mike Trout previously held the record for largest contract in sports history. He signed a $426 million contract in early 2019. Just a year later, Mahomes’ historic deal is the first to surpass half a billion dollars.
- Mahomes’ contract is not guaranteed in its entirety. $140 million of the deal is protected against injury.
Quarterbacks Deshaun Watson and Dak Prescott are also up for new contracts.