Patrick Mahomes sets a new record for the biggest NFL contract extension

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Posted on: July 7, 2020 6:26 pm EDT

The Super Bowl-winning QB gets a ten-year extension and a contract worth over $500 million

The Kansas City Chiefs have secured their MVP for another ten years, thanks to a recently-signed contract extension.
The Chiefs Super Bowl and MVP quarterback, Patrick Mahomes, will play for Kansas City through the 2031 season, according to what the team announced on Monday. Adam Schefter of ESPN was told by some sources that this contract extension is worth $450 million to Mahomes for a ten-year period, and it could be worth up to $503 million through additional incentives.

Under the new agreement, this new contract comes with a $140 million injury guarantee and a no-trade clause. There are a few conditions that were laid out in the contract that the franchise has to commit to or else Mahomes will be entitled to leave the team, according to Schefter’s source. “Since he joined the Chiefs just a few years ago, Patrick has developed into one of the most prolific athletes in all sports,” said Chiefs chairman Clark Hunt in a statement. He added that the quarterback’s talent is what led the team to its 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.”

Mahomes was also excited about the news and, on Monday, he posted about it on his Twitter account. The Chiefs picked Mahomes’ fifth-year option for the 2021 season in April in a contract that had two more years left. He was also entitled to a total of $27.6 million left from that deal, which was included in the renegotiation of the contract.