Mahomes agrees on 10-year contract extension with Chiefs

Confirmed on Monday, Super Bowl MVP Patrick Mahomes has agreed and signed a new contract with the Kansas City Chiefs on what is reportedly the largest contract for an athlete in the history of sports, reports ESPN.

The deal extends the two years left on his current contract to 12 years, a signing worth up to $503 million that will keep Mahomes through the 2031 season.

Mahomes has become the first athlete with a half-billion-dollar contract and the first NFL player to be the highest-paid athlete in the sports world, according to ESPN.

Adam Schefter with ESPN reports that the deal is worth $450 million over the 10-year period and could reach up to $503 million. The extension includes a $140 million injury guarantee, as well as a no-trade clause.

“Since he joined the Chiefs just a few years ago, Patrick has developed into one of the most prolific athletes in all of sports,” Chiefs Chairman Clark Hunt said in a statement. “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.”