The Kansas City Chiefs and quarterback Patrick Mahomes have agreed to a 10-year extension worth over half a billion dollars — $503 million to be exact — with an injury guarantee of $140 million. The Super Bowl MVP led the team to their first championship in 50 years.
It is the most lucrative contract in NFL history, putting Mahomes atop the highest-paid players in the league. The $503 million deal also breaks the record for the largest sports contract ever, passing boxer Floyd Mayweather’s $450 million fight deal with Showtime. Previously, Los Angeles Angels outfielder Mike Trout also held the record after signing a 12-year contract worth $426.5 million.
In February, Mahomes became the youngest quarterback to win the Super Bowl’s MVP award. The Chiefs beat the San Francisco 49ers, 31-20. He is the only player in history to win a league MVP and a Super Bowl MVP before the age of 25.
This year, he enters the last year of his original four-year $16.4 million rookie deal. The Chiefs picked up his fifth-year option in April, meaning he will make $24 million in 2021. The new contract will pay him $50 million a season, once his current deal expires.
In terms of annual salary, the record holder for the highest-paid quarterback is Russell Wilson who currently receives a yearly salary of $35 million. According to ESPN, Mahomes is the fourth quarterback since 2011 to receive an extension before starting his fourth season, joining Ryan Tannehill, Carson Wentz, and Jared Goff.
He has remarkable feats with the Chiefs since he joined in 2017. Over the last two years, he completed 66% of his passes with 76 touchdowns and 18 interceptions during the regular season. Last postseason, he recorded 10 touchdowns with two interceptions and helped the team win the Super Bowl despite being down 10 points at the start of the last quarter.
Mahomes’ Other Deals
Mahomes has deals with big brands like Oakley, Adidas, State Farm, and Procter & Gamble. In addition, he has local endorsements with Kansas City businesses such as Community America Credit Union and private jet company Airshare.
Steve Scebelo, interim president of NFL players, the licensing and marketing arm of the National Football League Players Association, mentioned that Mahomes contributed outside the Kansas City market and helped to increase product sales at his former school, Texas Tech University. Scebelo said that Mahomes is a respected player by fans and shows great leadership on and off the field. He explains how he understands why Mahomes has many fans and why they are rooting for him.
How Mahomes Got His Start
The Chiefs drafted Mahomes in 2017 with the 10th overall pick. He did not play most of his rookie season as Alex Smith was the starter.
After they traded Smith to the Washington Redskins next season, Mahomes was able to start, as well as show his talent on the field. Back in 2018, he won league MVP and the Offensive Player of the Year with 5,097 passing yards, 50 touchdowns, and 12 interceptions.
At the age of 24, he is already the face of the NFL and will go on to accomplish numerous feats. More success will come in favor of the Chiefs as he is going nowhere for the next 12 years.