SUPER Bowl MVP Patrick Mahomes has agreed to a 10-year extension worth up to $503million with The Kansas City Chiefs, the richest contract in professional sports history.
According to his agency, Steinberg Sports, Mahomes’ deal is worth $477million in guarantee mechanisms, including a no-trade clause and opt-out clauses if the guarantee mechanism are not met.
Mahomes’ agency Steinberg Sports said the deal made the QB the “first half billion dollar player in sports history.”
“Since he joined the Chiefs just a few years ago, Patrick has developed into one of the most prolific athletes in all of sports,” said the Chief’s chairman Clark Hunt.
Mahomes, who helped the Chiefs win their first Super Bowl title in 50 years, was under contract with the team for two more seasons with the extension starting in 2022.
The NFL salary cap is projected to be $227.5million in two years, however it could be lower due to revenue losses due to COVID-19.
If the cap prediction remains the same, Mahomes will take up about 20 percent of Kansas City’s cap space.
The Super Bowl MVP winner was due to make $825,000 during his final year of his rookie contract this season.
The new deal has been a priority for a while, according to general manager Brett Veach.
“His abilities are so rare, and to couple that with incredible personality is outstanding,” he said. “We’re going to continue to do everything we can to surround him with talent, and this deal provides us more flexibility to do that. He’s obviously an integral part to our success and we’re thrilled he’s going to be the quarterback of the Kansas City Chiefs for a long time.”
According to the Associated Press, Mahomes has shattered almost every franchise passing record while winning the league MVP and turns 25 on Sept. 17.
Regardless of dealing with multiple injuries including a dislocated kneecap, Mahomes was named The Associated Press NFL Offensive Player of the year.
Chiefs coach Andy Reid has called the quarterback a “natural leader” and believes he “makes us all better as an organization.”