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The Chiefs and Super Bowl MVP quarterback Patrick Mahomes have reached agreement on a 10-year contract extension that ties him to Kansas City through the 2031 season.
The deal is worth $450 million over the 10-year period and could be worth up to $503 million. The extension includes a $140 million injury guarantee, as well as a no-trade clause.
The Chiefs picked up Mahomes' fifth-year option for the 2021 season in April, putting him under contract for the next two seasons. Mahomes had two years and $27.6 million left on his deal -- $2.8 million this year and $24.8 million in 2021. The 10-year extension puts him under contract with the Chiefs for the next 12 seasons.
Mahomes will receive $83 million-plus in signing bonuses from 2021 to '23 ($21.7 million in '21, $27.4 million in '22, $34 million-plus in '23). Those first three years are fully guaranteed.
The Chiefs added $25 million in incentives over 10 years for Mahomes. Starting in 2022 and for 10 years running, Mahomes will have a $1.25 million incentive for winning the AFC Championship Game and a $1.25 million incentive for winning NFL MVP.
With his landmark payout over the next 12 seasons, Mahomes will have the richest valued contract in American professional sports.
Mahomes, 24, was the MVP of Kansas City's 31-20 victory over the San Francisco 49ers in Super Bowl LIV, making him the first quarterback in NFL history to win a league MVP and Super Bowl before turning 25.
Mahomes is the youngest quarterback to be named Super Bowl MVP. He helped the Chiefs erase a 10-point fourth-quarter deficit by leading three touchdown drives. He finished 26-of-42 for 286 yards with three total touchdowns (two passing, one rushing), two interceptions and a 78.6 passer rating. He joined Tom Brady (Super Bowl XLIX) and Terry Bradshaw (XIV) as the only players to win Super Bowl MVP despite throwing multiple interceptions.
Mahomes was named the NFL MVP after the 2018 season, in which he led the league with 50 touchdown passes and threw for 5,097 yards in his first full season as a starter.
The Chiefs traded up in the 2017 draft to select Mahomes with the 10th overall pick. He sat out for most of his rookie season behind starter Alex Smith, starting in only the season finale, when the Chiefs rested their starters.
Overall, Mahomes has thrown for 9,412 yards, 76 touchdowns and 18 interceptions in 31 regular-season games. In five playoff games, he has thrown for 1,474 yards, 13 touchdowns and two interceptions.
The deal is worth $450 million over the 10-year period and could be worth up to $503 million. The extension includes a $140 million injury guarantee, as well as a no-trade clause.
The Chiefs picked up Mahomes' fifth-year option for the 2021 season in April, putting him under contract for the next two seasons. Mahomes had two years and $27.6 million left on his deal -- $2.8 million this year and $24.8 million in 2021. The 10-year extension puts him under contract with the Chiefs for the next 12 seasons.
Mahomes will receive $83 million-plus in signing bonuses from 2021 to '23 ($21.7 million in '21, $27.4 million in '22, $34 million-plus in '23). Those first three years are fully guaranteed.
The Chiefs added $25 million in incentives over 10 years for Mahomes. Starting in 2022 and for 10 years running, Mahomes will have a $1.25 million incentive for winning the AFC Championship Game and a $1.25 million incentive for winning NFL MVP.
With his landmark payout over the next 12 seasons, Mahomes will have the richest valued contract in American professional sports.
Mahomes, 24, was the MVP of Kansas City's 31-20 victory over the San Francisco 49ers in Super Bowl LIV, making him the first quarterback in NFL history to win a league MVP and Super Bowl before turning 25.
Mahomes is the youngest quarterback to be named Super Bowl MVP. He helped the Chiefs erase a 10-point fourth-quarter deficit by leading three touchdown drives. He finished 26-of-42 for 286 yards with three total touchdowns (two passing, one rushing), two interceptions and a 78.6 passer rating. He joined Tom Brady (Super Bowl XLIX) and Terry Bradshaw (XIV) as the only players to win Super Bowl MVP despite throwing multiple interceptions.
Mahomes was named the NFL MVP after the 2018 season, in which he led the league with 50 touchdown passes and threw for 5,097 yards in his first full season as a starter.
The Chiefs traded up in the 2017 draft to select Mahomes with the 10th overall pick. He sat out for most of his rookie season behind starter Alex Smith, starting in only the season finale, when the Chiefs rested their starters.
Overall, Mahomes has thrown for 9,412 yards, 76 touchdowns and 18 interceptions in 31 regular-season games. In five playoff games, he has thrown for 1,474 yards, 13 touchdowns and two interceptions.