Chiefs QB Patrick Mahomes to Sign Richest Contract in NFL History

Patrick Mahomes and the Chief have reached an agreement on a 10-year contract extension

Quarterback Patrick Mahomes and the Chiefs have reached an agreement on a 10-year contract extension, the team confirmed on Monday.

The deal will be worth an NFL-record $477 million and includes $63 million fully guaranteed at signing, per The MMQB's Albert Breer. 

Mahomes' injury guarantee is $141 million, with roster bonuses due each March, per Breer.

Details on @PatrickMahomes deal.

• It's a 10-year, $450 million extension.
• Folding in rest of rookie deal, $477M over 12 years.
• $63M fully guaranteed at signing.
• $141M injury guaranteed.

March rosters bonuses = key to tying the Chiefs in. They vest 1-2 years early.

— Albert Breer (@AlbertBreer) July 7, 2020

Many expected Mahomes and the Chiefs to reach a long-term extension after the team exercised his fifth-year option on April 30. Under his 2021 option, Mahomes's rookie contract expanded to $41 million over five years. Since he had two years remaining on his current deal, the extension makes it a new 12-year contract in total, Schefter reports.

It's no surprise the Chiefs would want to lock in Mahomes long-term after he led their fourth-quarter comeback to win Super Bowl LIV in February. For two years, Mahomes has been the centerpiece of the team's offensive explosion. He's produced highlight reels full of no-look passes and darts to streaking wide receivers downfield. During 2018–his first full season as a starter–Mahomes threw 50 touchdown passes and was named NFL MVP.

Mahomes briefly battled a dislocated right kneecap last season but only missed two games with the injury. He finished 2019 throwing for 4,031 yards, 26 touchdowns and five interceptions and earned his second Pro Bowl nod. The Chiefs drafted him with the No. 10 overall pick in 2017 out of Texas Tech.

Here's a look at the players with the highest 2020 salaries—based on average annual value—according to Spotrac. 

1. Russell Wilson (QB, Seahawks): $35 million

2. Ben Roethlisberger (QB, Steelers): $34 million

T-3. Jared Goff (QB, Rams): $33.5 million

T-3. Aaron Rodgers (QB, Packers): $33.5 million

5. Kirk Cousins (QB, Vikings): $33 million