- Patrick Mahomes agreed to a 10-year extension with the Kansas City Chiefs, becoming the highest-paid athlete in US sport.
- The entire deal is worth up to $503million, and it starts after the 2021 season.
- Mahomes is arguably the most talented quarterback in the last decade, and he is projected to be the cornerstone of the Chiefs’ future.
Mahomes’ Mega-Deal Worth Half a Billion Dollars
The news broke out last night that the Kansas City Chiefs and their starting quarterback Patrick Mahomes reached an agreement worth slightly over half a billion dollars.
Mahomes will sign a 10-year extension with the Chiefs worth up to $503 million, which has $477 million in guarantee mechanisms. The guaranteed sum for the player himself if injured is $140 million, and he also has a no-trade clause and opt-out clauses if, by any chance, certain requirements regarding guaranteed mechanisms aren’t fulfilled.
The 2018 MVP will get a signing bonus of $83 million divided between 2021 and 2023. He also has certain incentives, $1.25 million for winning the AFC Championship game and the same amount for winning the MVP award.
KC’s chairman Clark Hunt was more than thrilled with the news, and he shared a statement for the public immediately after the negotiations.
“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.”
With this deal, Mahomes now has the highest-worth contract in the history of professional sports, after jumping over MLB superstar, Mike Trout, who plays for the Los Angeles Angels.
The Chiefs already picked up his fifth-year option, and after earning $2.8 million in this and $24.8 million in the 2021 season, the extension will kick in.
Potential Salary-Cap Problems for the Chiefs
In the 2022 season, the salary cap in the NFL will be around $227.5 million, and Mahomes himself will take almost 20%. Even though the fans salute to the management for securing the best QB in the league long-term, they are afraid that the team might suffer because of that.
There are a lot of stars in the team who are yet to have their contracts sorted out, and all of them are anticipating big money after the recent Super Bowl title. Mahomes’ deal is narrowing the possibilities for the Chiefs’ executives in future negotiations.
However, they believe that having Mahomes as a constant might compensate for the departure of some starters from the current roster.
Patrick Lavon Mahomes II was the 10th overall pick in the 2017 NFL draft selected by the team from Arrowhead Stadium. He would play just one game in his rookie season, which he spent being a backup to Alex Smith.
After Smith’s trade to the Washington Redskins, Mahomes became a starter, winning the NFL MVP award. His Chiefs lost that year in the AFC Championship game to the latter Super Bowl champions, the New England Patriots. Last year, Mahomes and the team from KC won the title after all, defeating the San Francisco 49ers.
