Without question, Kansas City Chiefs quarterback Patrick Mahomes’ new mind-blowing contract extension has been the major sports news of the day.
In total, Mahomes’ deal could be worth as much as $503 million over 10 years, starting in 2022. He currently has two more years on his rookie pact, meaning he’s under contract with the Chiefs through 2031.
Per reports, the 10-year deal contains $477 million in “guarantee mechanisms” with more available via incentives. Now, we have an idea of what those incentives consist of, thanks to ESPN’s Adam Schefter.
Starting in 2022, Mahomes will make an extra $1.25 million very time he wins the league MVP award and another $1.25 mil for every AFC Championship the Chiefs win. Considering he has reached each of these benchmarks once in his first two years as a starter, there’s an opportunity for the prolific passer to make some serious bonus coin.
Starting in 2022, and for 10 years running, Patrick Mahomes has a $1.25 million incentive for winning AFC Championship game and a $1.25 million incentive for winning NFL MVP, per source. That’s $25M of incentives over 10 years, taking value of his deal from $477M to $503M.
— Adam Schefter (@AdamSchefter) July 6, 2020
Mahomes isn’t going to make up all of that $25 million in incentives: even Tom Brady’s Patriots didn’t win the AFC every single year and no QB, no matter how good they are, wins the MVP every season.
Still, we’d bet he reaches those goals a couple of more times each at least from 2022-2031.
Simply put, it’s good to be Patrick Mahomes right now, and it’s going to continue to be good for the foreseeable future.