KANSAS CITY, MISSOURI - JANUARY 12: Patrick Mahomes #15 of the Kansas City Chiefs celebrates his teams win against the Houston Texans in the AFC Divisional playoff game at Arrowhead Stadium on January 12, 2020 in Kansas City, Missouri. (Photo by Jamie Squire/Getty Images)The full financial numbers of Patrick Mahomes’ massive contract extension are out. They are as eye-popping as you expected.
According to NFL Network’s Ian Rapoport and Tom Pelissero, the 10-year extension is worth $503 million in total. Of that more than half a billion (!), Mahomes gets more than $477 million in “guarantee mechanisms” and there are reportedly outs in his contract as well as a no-trade clause.
The deal is the richest in American professional sports history, as it is the first $500 million contract a player has ever signed.
Overall, counting the two years he had left on his current contract, Mahomes will be in Kansas City through the 2021 season.
The #Chiefs and QB Patrick Mahomes have agreed to terms on a 10-year extension worth $503 million, sources tell me and @TomPelissero. He gets $477M in guarantee mechanisms and gives the ability for Mahomes to have outs if the guarantee mechanisms aren’t exercised. No trade clause
— Ian Rapoport (@RapSheet) July 6, 2020
As insane as these figures are, they might wind up being a bargain as long as Mahomes keeps on the trajectory he’s going on. Winning a Super Bowl and an MVP in your first two seasons as a starter is not half bad.
With Mahomes locked up, two quarterbacks who should be rejoicing right now are Deshaun Watson and Dak Prescott. Deshaun won’t get quite this much from the Houston Texans, but he will be able to secure a bundle.
As for Dak, well, he has the leverage over the Cowboys when it comes to working out a long-term deal, unless Dallas just decides to let him walk after playing on the franchise tag.
