Alton, Mo. – On Monday, July 6, 2020, the Kansas City Chiefs announced that they had signed Super Bowl MVP quarterback Patrick Mahomes to a 10-year contract extension.
The Deal
The deal is worth $450 million in the ten years but could reach up to $503 million. The contract guarantees a $140 million if he gets injured. The contract extension includes a no-trade clause. Patrick Mahomes will be with the Chiefs through the 2031 season.
Mahomes will receive $83 million-plus in signing bonuses from 2021 to 2023. [1] Those first three years are fully guaranteed. For the AFC Championship Game and for winning the NFL MVP, the Chiefs added a $1.25 million incentive for Mahomes starting in 2022.
The Chiefs signed Mahomes to a fifth-year option for the 2021 season back in April of 2020. This deal put him under contract for the next two seasons. So this extension is for 12 years total.
Statement
Kansas City Chiefs Chairman and CEO Clark Hunt said, “This is a significant moment for our franchise and for the Chiefs Kingdom…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.” [2]
“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.” Chiefs General Manager Brett Veach stated. [3]
“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,” Head Coach Andy Reid said. “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.” [4]
Patrick Mahomes won league MVP in 2018, Super Bowl MVP, and he won Super Bowl LIV. He is bound to do a lot more in the years to come.
Notes:
- ^“ESPN.” ESPN.com, 7 July 2020. (go back ↩)
- ^“Chiefs Sign QB Patrick Mahomes to Contract Extension.” Kansas City Chiefs, 6 July 2020. (go back ↩)
- ^“Chiefs Sign QB Patrick Mahomes to Contract Extension.” Kansas City Chiefs, 6 July 2020. (go back ↩)
- ^“Chiefs Sign QB Patrick Mahomes to Contract Extension.” Kansas City Chiefs, 6 July 2020. (go back ↩)
