The contract numbers for Kansas City Chiefs quarterback Patrick Mahomes are in.
According to ESPN’s Adam Schefter, Mahomes’ 10-year extension is worth a total of $450 million. That includes $140 million in guaranteed money in the event of an injury. Some believed the contract would contain language that ties the deal to a percentage of the salary cap. That’s not the case according to Schefter’s report.
Mahomes is making $45 million in average annual salary under the new extension. Keep in mind that doesn’t include the $27.6 million still owed to Mahomes over the course of 2020 and 2021.
This $450 million does, however, make Mahomes’ contract extension the richest deal in sports history. It tops Mike Trout’s 12-year deal with the Los Angeles Angels which is worth $426.5 million. That means the NFL has officially crossed over into MLB territory when it comes to contracts, breaking new ground in the league.
Compensation update: Patrick Mahomes’ 10-year extension is worth $450 million, sources tell ESPN.
The injury guarantee is $140 million, per source.
The contract does not contain language that ties its value to a percentage of the salary cap.
Richest deal in sports’ history.
— Adam Schefter (@AdamSchefter) July 6, 2020
At face value, this actually looks like a really good deal for the Chiefs. We still need to see the cap hits and yearly cash flow, but it could give the team a lot of flexibility moving forward, especially when it comes to managing the salary cap.
As soon as we have more on yearly salary cap hits, bonus money and other important contract details we’ll update you with that information.
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