Chiefs, Patrick Mahomes reach historic contract extension

The Kansas City Chiefs have reached a historic deal with Patrick Mahomes that will keep the MVP and Super Bowl-winning quarterback with the team until 2031, league sources told ESPN on Monday.

There are many incentives and guarantee mechanisms that can elevate the $450-million extension up to $503 million, a source told ESPN’s Adam Schefter. For those curious about the risk of injury, there is a $140 million injury guarantee, and a no-trade clause included in the deal.

But there’s a lot more that sweetens the pot for Mahomes.

Some of the incentives that Mahomes will have also include a $1.25 million incentive for winning the AFC Championship Game and a $1.25 million incentive for winning NFL MVP, a source also told Schefter.

Drafted 10th overall in the 2017 NFL Draft, Mahomes already has two years and $27.6 million left on his rookie deal… $2.8 million this year as well as $24.8 million in 2021. The extension keeps him a member of the Chiefs until he is 37 years old.

In 31 career games, Mahomes has a 24-7 record, and has led the Chiefs to the AFC Championship Game the past two years, capping off the 2019-20 season leading the Chiefs to their first Super Bowl victory in 50 years.

One of the flashiest and most spectacular quarterbacks in recent NFL memory, Mahomes has a TD:INT ratio of 76-18, a quarterback rating of 108.9, and a 724-1099 completion/attempt ratio, and has thrown for 9,412 yards.

The news of the massive contract extension was later confirmed by the team.

“This is a significant moment for our franchise and for the Chiefs Kingdom,” Chiefs Chairman and CEO Clark Hunt said in a statement. “Since he joined the Chiefs just a few years ago, Patrick has developed into one of the most prolific athletes in all of sports. 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.”

Chiefs head coach Andy Reid added on to the praise to the star quarterback.

“The best part is he’s [Mahomes] still early in his career. 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. 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.”

At just 24 years old, Mahomes still has so much more in him in the NFL. A chance to cement one of the greatest legacies in history. Not just football history… but sports history in general.

(Photo credit: Getty Images)

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