The Chiefs and Super Bowl MVP quarterback Patrick Mahomes have reached settlement on a 10-year contract extension that ties him to Kansas City through the 2031 season, the crew introduced Monday.

League resources instructed ESPN’s Adam Schefter that the deal is price $450 million over the 10-year length, and may well be price up to $503 million. The extension features a $140 million harm ensure, in addition to a no-trade clause.

It additionally contains the facility for Mahomes to have outs if sure “assured mechanisms” don’t seem to be exercised, a supply instructed Schefter.

“Since he joined the Chiefs only some years in the past, Patrick has advanced into one of the vital prolific athletes in all of sports activities,” Chiefs chairman Clark Hunt mentioned in a commentary concerning the quarterback who led them to their first championship in 50 years.

“With his dynamic play and infectious persona, he is without doubt one of the maximum known and liked figures to place at the Chiefs uniform. He’s an unusual chief and a credit score to the Kansas City neighborhood, and I’m overjoyed that he’s going to be a member of the Chiefs for many future years.”

Mahomes tweeted concerning the deal following its announcement Monday.

The Chiefs picked up Mahomes’ fifth-year choice for the 2021 season in April, striking him beneath contract for the following two seasons. Mahomes had two years and $27.6 million left on his current deal — $2.Eight million this yr, $24.Eight million in 2021. The 10-year extension places him beneath contract with the Chiefs for the following 12 seasons.

Mahomes will obtain $83 million-plus in signing bonuses from 2021-23 ($21.7 million in ’21, $27.four million in ’22, $34-plus million in ’23). Those first three years are absolutely assured, resources instructed ESPN’s Jeremy Fowler.

The Chiefs added $25 million in incentives over 10 years for Mahomes. Starting in 2022, and for 10 years operating, Mahomes can have a $1.25 million incentive for successful the AFC Championship Game and a $1.25 million incentive for successful NFL MVP, a supply instructed ESPN’s Adam Schefter.

With his landmark payout over the following 12 seasons, Mahomes can have the richest valued contract in American skilled sports activities. Mike Trout had prior to now held that difference when he signed a 12-year, $426.Five million contract with the Los Angeles Angels in March 2019. Trout’s contract is absolutely assured, then again.

General supervisor Brett Veach mentioned this deal has been a concern for rather some time and thanked Mahomes’ brokers, Chris Cabott and Leigh Steinberg.

“His skills are so uncommon, and to couple that with an improbable persona is exceptional,” Veach mentioned of Mahomes. “We’re going to proceed to do the entirety we will to enclose him with ability, and this deal supplies us extra flexibility to try this. He’s clearly an essential component to our luck and we are overjoyed he will be the quarterback of the Kansas City Chiefs for a very long time.”

Mahomes turns into the fourth quarterback since 2011 to obtain an extension earlier than the beginning of his fourth season, becoming a member of Ryan Tannehill (Miami Dolphins in 2015), Carson Wentz (Philadelphia Eagles in 2019) and Jared Goff (Los Angeles Rams in 2019).

The Chiefs had mentioned they meant to signal their franchise quarterback to an extension however had prior to now indicated it will no longer occur till after this season.

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Dan Orlovsky explains why Patrick Mahomes’ 10-year extension with the Chiefs is excellent for all events concerned.

Mahomes, 24, used to be MVP of Kansas City’s 31-20 victory over the San Francisco 49ers in Super Bowl LIV, turning into the primary quarterback in NFL historical past to win a league MVP and Super Bowl earlier than turning 25.

Mahomes was the youngest quarterback to be named Super Bowl MVP, serving to the Chiefs erase a 10-point fourth-quarter deficit by way of main 3 landing drives. He completed 26-of-42 for 286 yards with 3 overall touchdowns (two passing, one speeding), two interceptions and a 78.6 passer score. He joined Tom Brady (Super Bowl XLIX) and Terry Bradshaw (XIV) as the one avid gamers to win Super Bowl MVP in spite of throwing more than one interceptions.

Mahomes used to be named the NFL MVP after the 2018 season, when he led the NFL with 50 landing passes and threw for five,097 yards in his first complete season as a starter.

Coach Andy Reid mentioned the most productive phase is that Mahomes remains to be early in his occupation. Mahomes would possibly not flip 25 till Sept. 17.

“He’s a herbal chief and all the time grinding, whether or not that is at the box, within the weight room or staring at movie, he desires to be the most productive,” Reid mentioned. “He’s a competitor and his teammates feed off his power. He makes us all higher as a company and we’re blessed he will be our quarterback for years yet to come.”

The Chiefs traded up within the 2017 draft to make a choice Mahomes with the 10th total select. He sat out for many of his rookie season in the back of starter Alex Smith, beginning in best the season finale when the Chiefs rested their starters.

The Chiefs traded Smith to the Washington Redskins earlier than the next season, making Mahomes the starter.

Overall, Mahomes has thrown for 9,412 yards with 76 touchdowns and 18 interceptions in 31 regular-season video games. In 5 playoff video games, he has thrown for 1,474 yards with 13 touchdowns and two interceptions.

The Associated Press contributed to this document.

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