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. Also Read | Patrick Mahomes Endorsement Money, Patrick Mahomes Contract Breakdown, Net Worth And More 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. Congrats to @PatrickMahomes on agreeing to terms on a 10-year extension worth $503 Million. He gets $477M in guarantee mechanisms and ability to have outs if guarantee mechanisms aren’t exercised. No trade clause. First half billion dollar player in sports history. History made. pic.twitter.com/beSGN4jyej — Steinberg Sports (@SteinbergSports) July 6, 2020 Here's a breakdown of the cash flow on Patrick Mahomes' new contract with the #Chiefs. It'll take more than one tweet to fully explain, but the bonuses have varying vesting dates that paint a fuller picture of how the deal works. pic.twitter.com/LepwqYMT0K — Tom Pelissero (@TomPelissero) July 6, 2020 Also Read | Patrick Mahomes Has His Say On Drew Brees' Controversial Statement On National Anthem 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." Also Read | Patrick Mahomes Vows To Use NFL Platform To Speak Out On Systematic Racism Patrick Mahomes expressed his delight with his mammoth contract extension with the Chiefs View this post on Instagram A post shared by Patrick Mahomes II (@patrickmahomes) on Jul 6, 2020 at 2:47pm PDT 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: The Young man deserve it all. One of the best I’ve been around. One of the Greats. #15 #RunItBack — Tyrann Mathieu (@Mathieu_Era) July 6, 2020 My locker is across from the highest paid player in league history. God just keeps blessing me. 🙏🖤 — Tyrann Mathieu (@Mathieu_Era) July 6, 2020 Yes sir my bro we going crazy https://t.co/ITrvfXhdGx — Ty Hill (@cheetah) July 6, 2020 If it’s anybody in the world that deserve that much money it’s my homie blessings to him and his family seriously good humble dude low maintenance all about football and winning..! — King me (@sammywatkins) July 6, 2020 Half A Billion😳 That guy deserve every penny. 💸💰 — ⚡️Primetime!!!⚡️ (@Joe_MainMixon) July 6, 2020 Congratulations @patrickmahomes you really made history that is going to last longer than this moment!!! pic.twitter.com/9VVSkhNs9V — Dez Bryant (@DezBryant) July 7, 2020 Is this better than a 1 year deal with 10 teams? https://t.co/bg6aGqjfRg — Josh McCown (@JoshMcCown12) July 6, 2020 What's understood doesn't need to be explained. #Ferrari @PatrickMahomes ✊🏽🖤 pic.twitter.com/bK4QflAop0 — Jamal Adams (@Prez) July 6, 2020 Also Read | Mahomes, Mathieu Leading Chiefs In Voter Registration Drive (Image Credits: NFL Official Website)

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

Kansas City Chiefs have locked in quarterback Patrick Mahomes to a 10-year contract extension. The 24-year-old signed the deal for a reported $503 million.

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