Patrick Mahomes, a year removed from his first league MVP award and just four months after leading the Chiefs to victory in Super Bowl LIV, is about to cash in on his early success. Mahomes, the first player in league history to win league and Super Bowl MVP honors before his 25th birthday, has come to terms on a 10-year deal with the Chiefs, according to ESPN’s Adam Schefter.
The contract is reportedly the richest deal in NFL history. Also, per Schefter, Mahomes’ 10-year extension is worth $450 million with a $140 million injury guarantee. CBS Sports’ Jason La Canfora reports Mahomes’ 10-year extension will be guided by a mechanism that ensures the quarterback’s annual salary never drops below certain cap thresholds — in other words it will always be above a certain percentage of the NFL’s salary cap.
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It is unusual to see a contract extension of this length — and with those clauses and parameters — but it’s also rare to see a quarterback accomplish what Mahomes has this few years into his career. Back in January, CBS Sports NFL insider Jason La Canfora reported that the Chiefs were formulating to offer Mahomes a record-setting contract that would pay him at least $40 million a season.
The 10th overall pick in the 2017 NFL Draft, Mahomes was entering the final original year of his four-year, $16.4 million rookie contract.
The Chiefs did pick up his fifth-year option back in April. Had Mahomes played under his fifth-year option in 2021, he would have made $24,837,000, according to CBS Sports’ Joel Corry. Mahomes is now slated to join the list of the NFL’s highest-paid quarterbacks.
In terms of annual salary, Russell Wilson currently holds the title as the league’s highest-paid quarterback, receiving an annual salary fo $35 million. The league’s other top-paid passers involve Ben Roethlisberger ($34 million), Aaron Rodgers ($33.5 million), Jared Goff ($33.5 million), Kirk Cousins ($33 million), Carson Wentz ($32 million), Dak Prescott ($31.4 million) and Matt Ryan ($30 million), according to Over the Cap.
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