Getty Image / William Purnell/Icon Sportswire
Patrick Mahomes has reportedly agreed to a new, 10-year contract with the Chiefs that will keep him in Kansas City through the year 2031 where he will be making over $400 million. If you’re thinking ‘hmm, that has to be the largest contract in NFL history’ you’re not wrong, but this new deal is bigger than that.
According to Adam Schefter, Mahomes’ new contract is the largest in sports history.
The 24-year-old Mahomes just had the Monday of all Mondays.
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
This will make it the largest contract not just in NFL history, but in sports history. https://t.co/lKqNNqMGq7
— Adam Schefter (@AdamSchefter) July 6, 2020
The fact that Mahomes’ new contract numbers aren’t that crazy shows just how crazy the sports world and the NFL landscape is at the moment. You pay elite quarterbacks, period, even if that means paying them over $400 million total well into their 30’s.
It’s no surprise to see Mahomes fetch a massive deal, but seeing ’10-years worth over $400 million’ is still shocking to read.
UPDATE: The contract is worth $477 million and could be worth up to $503 million. For those keeping track at home, that’s more than a half a billion dollars.
Final Patrick Mahomes’ deal:
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.
— Adam Schefter (@AdamSchefter) July 6, 2020
Starting in 2022, and for 10 years running, Patrick Mahomes has a $1.25 million incentive for winning AFC Championship game and a $1.25 million incentive for winning NFL MVP, per source. That’s $25M of incentives over 10 years, taking value of his deal from $477M to $503M.
— Adam Schefter (@AdamSchefter) July 6, 2020
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Mark is an associate editor at BroBible. Follow him on Twitter @ItIsMarkHarris for the occasional good tweet. Feel free to contact him at Mark@BroBible.com.