Patrick Mahomes signs record 10-year, $503 million worth Chiefs renewed contract

An NFL MVP and a Super Bowl MVP - all before the age of 25, has earned Kansas City Chiefs quarterback Patrick Mahomes the richest contract in NFL history. The quarterback has agreed to a 10-year contract extension with the Chiefs, worth a reported $503 million. The mammoth contract extension ties him to the franchise through the 2031 season. 

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Patrick Mahomes contract breakdown

According to NFL Network, Patrick Mahomes' deal includes $477 million in guaranteed mechanisms, with an additional $25 million in incentives. The extension also includes a $140 million injury guarantee and a no-trade clause. As per reports, the extensions "does not include language that ties Mahomes' salary to the salary cap." The massive contract also includes the ability for Mahomes to opt-out of the deal if certain 'guaranteed mechanisms' aren't exercised by the Chiefs.

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Reports of Patrick Mahomes landing a record-breaking contract from the Chiefs have been around since January 2019 - more than a year before the 24-year-old led the franchise to their first Super Bowl title in fifty years. Back then, it was reported any extension for Mahomes would easily surpass Green Bay Packers quarterback Aaron Rodgers' annual average salary of $33.5 million. With the extension, Mahomes will have the richest valued contract in American sports, outclassing the 12-year, $426.5 million contract sign ed by Los Angeles Angels' Mike Trout in 2019. 

"This is a significant moment for our franchise and for the Chiefs Kingdom," Kansas Chiefs Chairman Clark Hunt said in a statement. "Since he joined the Chiefs just a few years ago, Patrick has developed into one of the most prolific athletes in all of sports. With his dynamic play and infectious personality, he is one of the most recognized and beloved figures to put on the Chiefs uniform. He's an extraordinary leader and a credit to the Kansas City community, and I'm delighted that he will be a member of the Chiefs for many years to come."

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Patrick Mahomes expressed his delight with his mammoth contract extension with the Chiefs

Patrick Mahomes extension after leading the Chiefs to Super Bowl glory

P atrick Mahomes was drafted by the Chiefs as the No.10 overall pick in the 2017 NFL draft. He won the league MVP and the Offensive Player of the Year Award in 2018, throwing for 5,097 yards and completing 50 touchdown throws. Last season, Mahomes threw for 4,031 yards for 26 touchdowns. He came to life during the playoffs leading Chiefs' exhilarating offence. During the 2019 postseason, the quarterback completed 901 passing yards for 10 touchdowns. He picked up the Super Bowl ring along with a Super Bowl MVP award.

Patrick Mahomes extension: NFL players react

Former and current NFL players took to social media to congratulate Patrick Mahomes after securing the massive extension: 

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(Image Credits: NFL Official Website)