Schefter, however, reports that this agreement does not contain jargon that ties its value to a percentage of the salary cap. He gets $477M in guarantee mechanisms and gives the ability for Mahomes to have outs if the guarantee mechanisms aren’t exercised. That includes $477 million in contract guarantee mechanisms, giving Mahomes opt-out years if those mechanisms aren’t exercised by the team. With his dynamic play and infectious personality, he is one of the most recognized and beloved figures to put on the Chiefs uniform. It’s reportedly valued at $503 million for 10 years with $477 million in guarantee mechanisms. Mahomes is just the sixth NFL player to sign a contract of 10 or more years in length since 2000, according to NFL.com.Mahomes has thrown 76 touchdowns against just 18 interceptions since becoming the Chiefs’ starting quarterback prior to the 2018 season. In total, Mahomes could earn up to $502.631 million over the next 12 years if he hits all of his incentives. This is a significant moment for our franchise and for the Chiefs Kingdom. He will be 36 when his contract expires.At 24, Mahomes has emerged as arguably the NFL's biggest star. Quarterback Patrick Mahomes and the Chiefs have reached an agreement on a 10-year contract extension, the team confirmed on Monday.. He has endorsement deals with Oakley eyewear, State Farm and Bose electronics, among other companies.Long-term contracts are a rarity in football, where players contend with the constant risk of injury or replacement due to poor performance. He makes us all better as an organization and we are blessed he’s going to be our quarterback for years to come. The injury guarantee is $140 million, per source. Patrick Mahomes signed a 10 year, $450,000,000 contract with the Kansas City Chiefs, including a $10,000,000 signing bonus, $141,481,905 guaranteed, and an average annual salary of $45,000,000. The other three are MLB athletes. Connect with friends faster than ever with the new Facebook app. Getty Mahomes’ new contract adds 10 years onto the two he had remaining on his rookie deal, so he is now tied to the Chiefs through 2031. I’d like to thank Chris Cabott and Leigh Steinberg for their efforts and patience, along with Brandt Tilis and Chris Shea on my staff. Patrick Mahomes (2031) is the fourth active MLB/NFL/NHL/NBA player signed under contract into the 2030's. It’s unclear what impact — if any — Mahomes’ contract will have on the negotiations between Prescott and the Cowboys. CLICK HERE FOR MORE SPORTS COVERAGE ON FOXBUSINESS.COM, This material may not be published, broadcast, rewritten, or redistributed. However, Schefter noted that there is no language like that in the deal. Patrick Mahomes, 10 yr, $450MMike Trout, 12 yr, $426.5MBryce Harper, 13 yr, $330MGiancarlo Stanton, 13 yr, $325MGerrit Cole, 9 yr, $324M. Five months after winning their first Super Bowl in 50 years, the reigning champions and MVP Patrick Mahomes have agreed to a 10-year contract extension, keeping him at Arrowhead Stadium until the end of the 2031 campaign. Check them out below, via the team website. His abilities are so rare, and to couple that with an incredible personality is outstanding. — Adam Schefter (@AdamSchefter) July 6, 2020. The last time that occurred was with now-retired quarterback Michael Vick in 2004. Getting this deal done has been a priority for us for quite a while now. The 10-year deal takes effect in 2022. READ MORE: Chiefs’ Patrick Mahomes Breaks Silence Following Record Extension, Patrick Mahomes Contract: Latest Terms & Details of Massive Deal, Copyright © 2020 Heavy, Inc. All rights reserved. Also, no trade clauses for Showtime. We Found the Biggest Prime Day Bargains for You, — Adam Schefter (@AdamSchefter) July 6, 2020. The other three? The former No. The contract has $63.0819 million fully guaranteed at signing including a $10 million signing bonus. Bryce Harper (2032), Mike … The contract numbers for Kansas City Chiefs quarterback Patrick Mahomes are in. Mahomes also gave the Kansas City Chiefs a nice discount in his new contract extension that could pay him half a billion dollars. This is all expected, considering rumors began swirling after his league MVP-winning season about a record-breaking deal. Patrick Mahomes details restrictions in his new contract: 'Pretty much every physical activity you can do' Mahomes may be well paid, but there are many things he cannot do anymore Patrick Mahomes just became a very rich man. Chiefs’ Patrick Mahomes Breaks Silence Following Record Extension. Bryce Harper (2032), Mike Trout (2031) and Christian Yelich (2031). Patrick Mahomes and the Kansas City Chiefs agreed to a 10-year contract extension on Monday. Compensation update: Patrick Mahomes’ 10-year extension is worth $450 million, sources tell ESPN. 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. The #Chiefs and QB Patrick Mahomes have agreed to terms on a 10-year extension worth $503 million, sources tell me and @TomPelissero. With the extension in places, Mahomes is under contract with the Chiefs through the 2031 season.The deal includes $477 million in guarantee mechanisms, NFL Network reported, citing league sources. 10 overall pick was named NFL MVP in 2018 after he threw for 5,097 yards, 50 touchdowns, and 12 interceptions. That’s $25M of incentives over 10 years, taking value of his deal from $477M to $503M. Show full articles without "Continue Reading" button for {0} hours. The other three? Patrick Mahomes signed a 10 year, $450 million contract extension with the Chiefs on July 6, 2020. Details of Patrick Mahomes’ new contract with Chiefs revealed. There was speculation that Mahomes’ massive contract might be tied to a percentage of the salary cap, especially with the uncertainty surrounding the NFL due to the coronavirus pandemic. I’d also like to recognize Clark Hunt, Mark Donovan and Coach Reid who have all been incredibly supportive while we’ve worked though the details. Not surprisingly, the deal is the richest ever for a player in NFL history. This is also the first time in 15 years we’ve seen a historic extension of 10 years in the NFL. might be tied to a percentage of the salary cap. Patrick Mahomes also joins another elite fraternity. The best part is he’s still early in his career. Details of Patrick Mahomes’ new contract with Chiefs revealed Patrick Mahomes and the Kansas City Chiefs agreed to a 10-year contract extension on Monday. The 2018 leave MVP also gets a nice bonus for becoming NFL MVP and Super Bowl MVP moving forward. The contract includes just over $63 million in guaranteed money at the point of signing and $141 million is guaranteed in the event of injury. In addition, the contract includes a no-trade clause. -- Superstar Kansas City Chiefs quarterback Patrick Mahomes shattered another record on Monday in the form of his 10-year, $503 million contract extension.The $503 million contract is the richest in sports history and marked the first time ever that an NFL player became the world’s highest-paid athlete. ©2020 FOX Television Stations, Absentee ballot mistakes can be corrected to avoid rejection, Milwaukee event celebrates life of George Floyd, Attorney asks for Morales to be reinstated as MPD chief, Amy Coney Barrett: Supreme Court nominee vows to keep 'open mind' on cases, US Postal Service agrees to reverse nationwide service changes, COVID-19 alternate care facility opens at State Fair Park, Foxconn, WEDC headed back to negotiation table over tax credits, Village of Waukesha clerk resigns as election approaches, Milwaukee overnight parking enforcement to resume Nov. 2, New info about gun used by Kyle Rittenhouse in Kenosha shooting. For the record, Seattle Seahawks quarterback Russell Wilson was the highest-paid quarterback this season, according to NFL insider Adam Caplan. 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. Powered by. Many believed the contract would contain messaging that ties the arrangement to a percentage of the salary cap. Russell Wilson was previously the highest-paid quarterback in the NFL with his $35 million salary, so Mahomes dwarfed that number. Kansas City Chiefs QB Patrick Mahomes. Mahomes had two years remaining on his existing contract with the Chiefs. Check out the top four below. pic.twitter.com/OkTkHaZsPo, — ESPN Stats & Info (@ESPNStatsInfo) July 6, 2020. “Since he joined the Chiefs just a few years ago, Patrick has developed into one of the most prolific athletes in all of sports. "I've said before that I hope Patrick is here for his entire career and that’s going to be our goal," Chiefs owner Clark Hunt said prior to Super Bowl LIV. Mahomes threw for 286 yards, two touchdowns and two interceptions in the game and was named Super Bowl MVP. Not only that, but it is the largest contract handed out to a player in sports history. According to NFL Insider Ian Rapoport, it’s the largest contract in sports’ history. The … 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. Patrick Mahomes (2031) is the fourth active MLB/NFL/NHL/NBA player signed under contract into the 2030's. 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. Interestingly enough, Dak Prescott and the Dallas Cowboys are in a contract stalemate because Prescott wants a shorter deal from the team. 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. ESPN Stats & Info reports that he is fourth active player among four of the five major sports signed under contract into the next decade? Microsoft may earn an Affiliate Commission if you purchase something through recommended links in this article. Like us on Facebook to see similar stories, Another jetpack reported thousands of feet above LA, Fast Food May Be Your Only Dining Out Option Left, Experts Warn. This is all expected, considering rumors began swirling after his league MVP-winning season about a record-breaking deal. Check out what ESPN’s Adam Schefter’s latest report: Starting in 2022, and for 10 years running, Patrick Mahomes has a $1.25 million incentive for winning AFC Championship game and a $1.25 million incentive for winning NFL MVP, per source.
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