Patrick Mahomes, the Super Bowl MVP, has inked a groundbreaking 10-year extension deal with the Kansas Chiefs, making it the richest contract in sports history, valued between $450 million and $503 million.
At 24 years old, Mahomes, who is already under contract for the next two years, will be tied to the team through the 2031 season, until he reaches 36 years of age.
“Since he joined the Chiefs just a few years ago, Patrick has developed into one of the most prolific athletes in all of sports,” stated Chiefs chairman Clark Hunt in a press release.
He continued, “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.”
The deal is valued at $450 million over the 10-year period and has the potential to reach up to $503 million, according to league sources speaking to ESPN.
According to reports, the agreement represents the richest contract in the history of North American team sports and includes an injury guarantee of $140 million (£112 million).
This contract is also believed to be the largest in sports history, surpassing those of Los Angeles Angels star Mike Trout ($426.5 million) and boxer Canelo Alvarez ($365 million).
Mahomes, who was the youngest player to be named Super Bowl MVP, led the Chiefs to their first Super Bowl title in 50 years with a comeback victory over the San Francisco 49ers in February.
In his first 31 games, Mahomes has achieved a 24-7 record with 76 touchdown passes and 17 300-yard games with the Chiefs.