Super Bowl champion, Super Bowl MVP, and former league MVP Patrick Mahomes has agreed to a 10-year contract extension with the Kansas City Chiefs. If you know what the market is for paying franchise quarterbacks, you know that the value of this contract is by default the richest in NFL history.
Welcome to the league’s first ever $400 million+ contract.
Patrick Mahomes' 10-year extension with the Kansas City Chiefs is worth over $400 million in total, per league sources.— Adam Schefter (@AdamSchefter) July 6, 2020
The more significant question is, How much over $400 million?
Mahomes still has two years left on his existing deal, so when all is said and done, final monetary details of his contract will be earth shattering. It is the richest contract in sports history, surpassing Mike Trout of the Los Angeles Angels of Anaheim.
Patrick Mahomes had two years and $27.6 million left on his existing deal -- $2.8M this year, $24.8M in 2021.— Adam Schefter (@AdamSchefter) July 6, 2020
His 10-year extension is worth over $400M, though it's still uncertain how much over.
So the lowest his 12 year-deal could be worth is $427.6 million. But will be more.
Compensation update: Patrick Mahomes’ 10-year extension is worth $450 million, sources tell ESPN.— Adam Schefter (@AdamSchefter) July 6, 2020
The injury guarantee is $140 million, per source.
The contract does not contain language that ties its value to a percentage of the salary cap.
Richest deal in sports’ history.
This obviously means that Russell Wilson’s days as the highest paid NFL player are over. It lasted all of one year.
Kansas City has been desperately searching for a franchise quarterback, having historically flopped with its draft picks for several decades. In the interim, they’ve had busts like Todd Blackledge, flop signings like Matt Cassel, serviceable to good play from Alex Smith and Trent Green, and squeezed out what was left of Joe Montana’s career. It yielded them no Super Bowl appearances and a lengthy drought without a playoff win.
With the combination of Andy Reid and the #10 overall pick of the 2017 NFL Draft, the Chiefs have set the NFL world on fire with an amazing offense led by Reid’s genius and Mahomes’ on-field brilliance. Pat won league MVP in 2018 and was a competent defense away from reaching the Super Bowl in his first year as a starter. In 2019, even with some struggles and missed time due to injury, the Chiefs defense improved considerably, Mahomes was still performing at a high-level, and they incredibly rallied from double-digit deficits in every playoff game en route to winning the franchise’s first Super Bowl in 50 years. The mighty San Francisco 49ers defense had frustrated Mahomes for a little over three quarters, then in the blink of an eye a 20-10 deficit turned into a 31-20 victory.
Will this prove to be an ill-fated decision and Mahomes does indeed never replicate his early-career success? Only time will tell, but do you think Chiefs fans care right now? Hell no.
Now we wait and see what happens with Dak Prescott’s negotiation for a big contract from the Dallas Cowboys...