Mahomes is already under contract with the Chiefs for the next two years, so the 10-year extension will tie him up with the team until he is 36. Mahomes’s agency, Steinberg Sports, tweeted that the deal is worth up to $503m with $477m in guarantee mechanisms.
Congrats to @PatrickMahomes on agreeing to terms on a 10-year extension worth $503 Million. He gets $477M in guarantee mechanisms and ability to have outs if guarantee mechanisms aren’t exercised. No trade clause. First half billion dollar player in sports history. History made. pic.twitter.com/beSGN4jyej— Steinberg Sports (@SteinbergSports) July 6, 2020
The 24-year old was the youngest ever player to be named Super Bowl MVP when he led the Chiefs to their first NFL championship in 50 years with a comeback victory over the San Francisco 49ers in February.
“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.
“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 a video with the caption “Here to stay”.
Kansas City drafted Mahomes 10th overall in the 2017 draft. Since becoming the team’s regular starter in 2018, he has helped redefine the quarterback position with his mobility, coolness under pressure and unorthodox throws. Since entering the league he has thrown for 9,412 yards with 76 touchdowns and 18 interceptions in the regular season.