KANSAS CITY, Missouri — Patrick Mahomes agreed to a 10-year extension worth up to $503 million with the Kansas City Chiefs on Monday.
Mahomes’ deal has $477 million in “guarantee mechanisms,” meaning that the Chiefs can guarantee his salary a year out, but if they don’t make the guarantee they have to release him, per NFL Network. The maximum value of the deal is $503 million.
The contract is the richest in NFL history and sports history. Before Monday, MLB star Mike Trout’s 12-year, $426.5 million deal with the Los Angeles Angels was the largest in sports history.
Mahomes has two years left on his current deal, and the extension tacks 10 more onto that, keeping him in Kansas City through 2031.
Mahomes has spent two years as Kansas City’s starting quarterback after backing up Alex Smith as a rookie. In his first season under center, he won NFL MVP. In his second, he led the Chiefs to a title and won Super Bowl MVP.
Mahomes is one of two players to win both prestigious awards before his 25th birthday, along with former Dallas Cowboys running back Emmitt Smith.
Before leaving for the NFL, Mahomes starred at Texas Tech, throwing for 11,252 yards and 93 touchdowns in three seasons. The Chiefs took him with the No. 10 pick in the 2017 NFL Draft.