Patrick Mahomes signs 10-year contract with Kansas City Chiefs, reportedly worth as much as $US503 million – ABC News

The Kansas City Chiefs have handed 24-year-old Super Bowl-winning quarterback Patrick Mahomes a contract extension supposedly worth between $US477 million and $US503 million.
Bottom line:

Mahomes has more than $US27 million left on his present offer, leading into a 10-year contract extension

The brand-new deal by itself deserves $US450 million however with rewards will see him earn even more

Previously this year, Mahomes led the Chiefs to their very first Super Bowl win in 50 years
Those numbers over 10 years are believed to be the most significant contract in the history of professional sport.
Mahomes still has 2 seasons left on his current agreement– worth $2.8 million for the 2020 season slated to start in September, and $24.8 million for 2021– which he signed as a rookie.
ESPN reported the new contract deserved at least $US450 million, however with the remaining money on his present offer, plus rewards tied into the brand-new one, the number might climb up over $US500 million ($ 716 million).
That prompted Mahomess firm to identify its client the “very first half billion dollar gamer in sports history”.
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Mahomes was selected with the 10th pick in the 2017 NFL draft and considering that then has won the leagues Most Valuable Player Award his 2nd season, then led the Chiefs to their first Super Bowl win in 50 years, being called MVP of this years title video game in the procedure.
” Since he joined the Chiefs just a couple of years ago, Patrick has actually become one of the most prolific athletes in all of sports,” Chiefs chairman and president Clark Hunt stated.
” With his vibrant play and infectious character, he is among the most identified and cherished figures to place on the Chiefs uniform. Hes an amazing leader and a credit to the Kansas City community, and Im happy that he will be a member of the Chiefs for several years to come.”

Mahomes is among the leagues most vibrant gamers, with an effective throwing and running game.( AP: Charlie Neibergall) The agreement extension starts in 2022 when the NFL salary cap is projected to be $227.5 million, however that number could be lower depending on profits losses due to the coronavirus pandemic and the possibility any video games played this season will not have fans.
Mahomes will use up a big piece of Kansas Citys income cap, about 20 per cent, which might make it hard for the Chiefs to sign other stars, but general manager Brett Veach said the contract enabled them to ensure Mahomes is not forced to be a one-man team.
” Were going to continue to do everything we can to surround him with skill, and this deal supplies us more versatility to do that,” Veach said.
” Hes undoubtedly an integral part to our success and were delighted hes going to be the quarterback of the Kansas City Chiefs for a very long time.”
The risk with long agreements in a contact sport is that a person bad knock can turn a no-brainer offer into a devastating albatross.
Mahomes handled many injuries this past season, consisting of a dislocated kneecap on a seemingly harmless quarterback slip that left him sidelined for a couple of games.
But he returned to lead the Chiefs on a long winning streak that culminated with a series of come-from-behind wins in the playoffs, including their second-half rally in the Super Bowl.
ESPN reported the new offer has a $US140 million warranty in case of a serious injury and a no-trade stipulation.
None of this considers Mahomess various endorsements, including financially rewarding deals with Adidas and Oakley.
AP/ABC