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Chiefs, Mahomes agree to 10-year, $503 million extension

Mon Jul 6 7:52pm ET
By ROB MAADDI
AP Pro Football Writer

In this Feb. 2, 2020, file photo, Kansas City Chiefs quarterback Patrick Mahomes (15) passes against the San Francisco 49ers during the first half of the NFL Super Bowl 54 football game in Miami Gardens, Fla. The Chiefs have agreed to a 10-year contract extension with Super Bowl MVP Mahomes, a person familiar with the deal told The Associated Press. The Chiefs had Mahomes under contract for the next two seasons but wanted a long-term deal in place with the quarterback who led them to their first championship in 50 years. The person spoke to the AP on terms of anonymity because the deal has not been announced. (AP Photo/Patrick Semansky, File)


The Kansas City Chiefs made sure they'll have Super Bowl MVP Patrick Mahomes around as long as possible.

Mahomes agreed to a 10-year extension worth up to $503 million, according to his agency, Steinberg Sports. The deal is worth $477 million in guarantee mechanisms and includes a no-trade clause and opt-out clauses if guarantee mechanisms aren't met.

It's the richest contract in professional sports history, surpassing Mike Trout's $426.5 million deal with the Los Angeles Angels.

''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.''

The Chiefs had the 2018 NFL MVP under contract for the next two seasons but that wasn't nearly enough.

''Here to stay,'' Mahomes wrote on Twitter.

The contract extension starts in 2022 when the NFL salary cap is projected to be $227.5 million. However, that number could be lower depending on revenue losses due to the cornonavirus pandemic and the possibility any games played this season won't have fans.

Still, Mahomes will take up a big chunk of Kansas City's cap space, around 20 percent depending on the annual contract breakdown and final cap numbers. That could potentially make it difficult for the Chiefs to pay several star players big contracts.

The Chiefs already had picked up their fifth-year option in April on Mahomes, who had been due to make $825,000 on the final year of his rookie contract this season, to keep him around at least through 2021. General manager Brett Veach said this deal has been a priority for quite a while and thanked Mahomes' agents, Chris Cabott and Leigh Steinberg.

''His abilities are so rare, and to couple that with an incredible personality is outstanding,'' Veach said of Mahomes. ''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.''

Mahomes threw touchdown passes on consecutive fourth-quarter drives in rallying the Chiefs to their first Super Bowl title in 50 years and the first for coach Andy Reid. That comeback performance earned Mahomes the Super Bowl MVP award and only cemented his status as the face of the Kansas City franchise.

Reid said the best part is that Mahomes is still early in his career. Mahomes won't turn 25 until Sept. 17.

''He's a natural leader and always grinding, whether that's on the field, in the weight room or watching film, he wants to be the best,'' Reid said. ''He's a competitor and his teammates feed off his energy. He makes us all better as an organization and we are blessed he's going to be our quarterback for years to come.''

The Chiefs traded up to select Mahomes 10th overall in the 2017 draft, and he spent one season learning the ropes under Alex Smith before getting the starting job.

Mahomes proceeded to shatter just about every franchise passing record while winning the league MVP award, and he had the Chiefs within overtime of landing in the Super Bowl that season. He also was The Associated Press NFL Offensive Player of the Year.

He dealt with numerous injuries this past season, including a dislocated kneecap on a seemingly innocent quarterback sneak that left him sidelined for a couple of games. He came back to lead the Chiefs to a long winning streak that culminated with a series of come-from-behind wins in the playoffs, including their second-half rally in the Super Bowl.

He is 24-7 as a starter, completing 65.9% of his passes with 76 touchdowns and only 18 interceptions. Mahomes is 724 of 1,099 for 9,412 yards passing, averaging 303.6 yards per game with a 108.9 career quarterback rating. He also has run 110 times for 500 yards with four TDs.

He has led the Chiefs to back-to-back AFC championship games. In the postseason, Mahomes is 115 of 184 for 1,474 yards with 13 TDs and only two interceptions with a 106.6 rating.

Player Notes
Melvin Gordon Jul 6 11:50pm ET

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Lamar Jackson Jul 6 11:20pm ET

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Jamar Taylor Jul 6 4:30pm ET

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Patrick Mahomes Jul 6 4:20pm ET

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Fantasy Spin: Golladay was successful last season even though he had to play with several quarterbacks. He has a chance to improve on his stats with a full season with Matthew Stafford. He should be at least a No. 2 receiver in all fantasy leagues and will be a weekly starting option.

From TheHuddle

Patrick Mahomes Jul 6 3:23pm ET

Kansas City Chiefs QB Patrick Mahomes agreed to terms on a 10-year contract extension with the Chiefs Monday, July 6, that will run through the 2031 season, according to sources. Financial terms were not disclosed, but the contract with be the richest contract in NFL history.

Fantasy Spin: Mahomes is coming off his first championship and is only 24 years old, so the Chiefs locked him up for most of the rest of his career. He is one of the top quarterbacks in the NFL and is a must-start in all fantasy leagues.

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Teez Tabor Jul 6 3:13pm ET

San Francisco 49ers CB Teez Tabor (undisclosed) was waived Monday, July 6, with a Non-Football Injury designation.

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Jamar Taylor Jul 6 3:13pm ET

Free-agent CB Jamar Taylor (Falcons) signed a one-year contract with the San Francisco 49ers Monday, July 6. Financial terms were not disclosed.

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Adam Schefter is reporting the Chiefs and QB Patrick Mahomes have reached an agreement on a 10-year contract extension that ties him to Kansas City through the 2031 season.

Ashtyn Davis Jul 6 2:40pm ET

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