Kansas City Chiefs QB Patrick Mahomes agrees to historic 10-year contract extension

Even amid salary-cap uncertainty throughout the NFL, Patrick Mahomes reached his record-setting payday. 

The Kansas City Chiefs quarterback agreed to a 10-year contract extension Monday, the team confirmed. Mahomes’ deal is worth up to $503 million with $477 million in guarantee mechanisms that give the two-time All-Pro outs if not exercised, according to his agent, Leigh Steinberg.

The deal, which includes a no-trade clause, makes Mahomes the highest-paid player in NFL history and stands as the richest for any professional athlete in American team sports.

Los Angeles Angels star center fielder Mike Trout previously set the bar with his 12-year, $426.5 million deal. 

Mahomes had two years remaining on his contract after the Chiefs exercised his fifth-year option. The extension ties him to the organization through the 2031 season.

"I've had the privilege of coaching a lot of incredible athletes and special people in my career, and Patrick is without question on that list of players," Chiefs head coach Andy Reid said in a statement. "The best part is he's still early in his career. He's a natural leader and always grinding, whether that's on the field, in the weight room or watching film, he wants to be the best. He's a competitor and his teammates feed off his energy. He makes us all better as an organization and we are blessed he's going to be our quarterback for years to come."

At 24, Mahomes has already established himself in the NFL's elite tier of passers. In his first year as a starter in 2018, he threw for 50 touchdowns and earned NFL MVP honors. Last season, he led the Chiefs to their first title in 50 years and was named Super Bowl LIV MVP.

He is the youngest player in league history to win a Super Bowl and league MVP. Former Dallas Cowboys running back Emmitt Smith is the only other player to notch both achievements before turning 25.

Mahomes is one of the few veterans to agree to a contract extension this offseason amid the possibility of a reduced salary cap next year should the coronavirus pandemic force the NFL to either cancel games or bar fans from attending contests.

Follow Michael Middlehurst-Schwartz on Twitter @MikeMSchwartz.