Today he got the payoff: a record-smashing contract extension good for 10 years and close to half a billion dollars. Added to the two years he has remaining on his previous contract, this one could keep Mahomes in Kansas City through the end of the 2031-32 season. Mahomes will be 36 years old when the full deal is done.
Some outlets are calling it a $503 billion contract, but that’s not technically true, per the NFL:
The Chiefs’ all-world quarterback gets $450 million “in so-called new money” over the 10-year extension… in addition to the $28 million covered by the two remaining years on his rookie contract. Mahomes, the No. 10 pick in the 2017 NFL Draft, will get a $10 million signing bonus, then has large roster bonuses on a rolling guaranteed basis in future years, which includes a massive $49.4 million bonus due in 2026… There is also $25 million in incentives tied to winning the MVP and reaching the Super Bowl starting in the 2022 season. Upon signing, Mahomes gets just more than $63 million and just north of $103 million by March.
Even at the lower value, the deal is the largest in NFL history, and the biggest sports contract in the history of the gol-durned world. So far.
See our full biography of Patrick Mahomes »