Patrick Mahomes is gearing up to sign a 10-year extension with the Kansas City Chiefs and everyone is curious to see how much the gunslinger is set to make. While the exact numbers aren't official yet, there are more details emerging about Mahomes' contract extension, per ESPN's Adam Schefter.
Patrick Mahomes' 10-year extension with the Kansas City Chiefs is worth over $400 million in total, per league sources.
The more significant question is, How much over $400 million?
— Adam Schefter (@AdamSchefter) July 6, 2020
Once the news broke out that Mahomes would be receiving an extension, everyone was anxious to see the numbers involved in the deal. Mahomes, who's coming off of his first Super Bowl victory, has proven that he's invaluable to the Chiefs.
Therefore, it was already expected that the former No. 10 pick would garner the richest contract in NFL history. Provided that, it shouldn't come as a surprise that Patrick Mahomes' new deal is going to be worth an excess of $400 million in total. With that being said, it remains to be seen how much more Mahomes makes than the reported $400 million.
Seeing that the extension is for 10 years, some are wondering why Mahomes would sign on the dotted line. However, as Schefter reports, his new extension will likely give him a percentage of the salary cap each season.
There are no official numbers on Patrick Mahomes' 10-year extension just yet, but multiple sources believe it ultimately will be tied to a percentage of the salary cap for each season. The higher the cap goes, the more Mahomes will make.
— Adam Schefter (@AdamSchefter) July 6, 2020
Also, Patrick Mahomes still has two years remaining on his rookie contract — with $2.8 million coming in 2020 and $24.8 million in 2021. With that in mind, as Schefter highlights, the minimum that Mahomes' extension can be is $427.6 million over 12 years.
Patrick Mahomes had two years and $27.6 million left on his existing deal — $2.8M this year, $24.8M in 2021.
His 10-year extension is worth over $400M, though it's still uncertain how much over.
So the lowest his 12 year-deal could be worth is $427.6 million. But will be more.
— Adam Schefter (@AdamSchefter) July 6, 2020
The moment that Mahomes' new extension becomes official, he will become not only the richest player in NFL history, but he'll also boast the richest contract in sports history. Until the numbers are revealed, everyone can go back to refreshing their Twitter feed for Schefter to break the news.
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