KANSAS CITY, Mo. — Patrick Mahomes is staying in Kansas City for a long time, and he wants everyone to know it.
The Kansas City Chiefs and quarterback Patrick Mahomes agreed to a whopping 10-year extension, keeping him in Kansas City through 2031.
The news was first reported Monday morning by ESPN’s Adam Schefter, and the Chiefs confirmed the contract extension later that afternoon.
After it was official, Mahomes got Kansas City pumped up about the news, sharing a video on social media. In a letter, of sorts, to Chiefs Kingdom, he shares highlights from his past three seasons of unconventional but incredible plays.
“You helped us overcome adversity to become Super Bowl Champs, and we’re staying together for a long time,” the video says. “We’re chasing a dynasty.”
Check out the whole video below.
Leigh Steinberg, Mahomes’ agent, tweeted that his contract is worth $503 million with $477 million in guarantee mechanisms and outs if those mechanisms aren’t exercised. There’s also a no trade clause in the contract.
His 10-year contract is the first half-billion dollar contract in sports history, easily topping Mike Trout’s 12-year deal with the Los Angeles Angels as the largest deal.
The 24-year-old Chiefs QB is already set to make $2.8 million for the upcoming 2020 season, and the Chiefs picked up their fifth-year option in April, giving Mahomes $24.8 million for the 2021 season.
Even though he doesn’t go into free agency until after the 2021 season, the Chiefs have been focused on signing Mahomes to a long-term contract this offseason.
“This is a significant moment for our franchise and for the Chiefs Kingdom. 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 and CEO 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.”
Mahomes has taken the NFL by storm since taking the reins from former QB Alex Smith, leading the Chiefs to a Super Bowl LIV victory and collecting the Super Bowl MVP award in the process.
He was also named league MVP after the 2018 season, throwing 50 touchdowns and more than 5,000 yards during his first full season as a starter.
“I’ve said from the beginning that Patrick is one of the most impressive players I’ve ever scouted, but I don’t think anyone could have envisioned everything he’s brought to our football team and community. His abilities are so rare, and to couple that with an incredible personality is outstanding,” Chiefs General Manager Brett Veach said.
“We’re going to continue to do everything we can to surround him with talent, and this deal provides us more flexibility to do that. He’s obviously an integral part to our success and we’re thrilled he’s going to be the quarterback of the Kansas City Chiefs for a long time.”
“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. “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.”