KANSAS CITY, Mo. — ESPN reporter Adam Schefter tweeted on Monday afternoon that Chiefs quarterback Patrick Mahomes agreed to a 10-year extension, keeping him in Kansas City through 2031.
Mahomes has taken the league by storm since taking the reigns from Alex Smith, leading the Chiefs to a Super Bowl LIV victory and collecting the Super Bowl MVP award in the process.
He was also named league MVP after the 2018 season after throwing 50 touchdowns and more than 5,000 yards during his first full season as a starter.
Leigh Steinberg, Mahomes’ agent, tweeted that his contract is worth $503 million with $477 million in guarantee mechanisms and outs if those mechanisms aren’t exercised. There’s also a no trade clause in the contract.
His 10-year contract is the first half-billion dollar contract in sports history, easily topping Mike Trout’s 12-year deal with the Los Angeles Angels as the largest deal.
The Chiefs QB is already set to make $2.8 million for the upcoming 2020 season, and the Chiefs picked up their fifth-year option in April, giving Mahomes roughly $24.8 million for the 2021 season.