According to ESPN's Adam Schefter, the Kansas City Chiefs and quarterback Patrick Mahomes have come to an agreement on a 10-year contract extension.

Per Schefter, the 10 years are in addition to the two Mahomes has left on his current contract, so the quarterback's tenure with the Chiefs could continue for up to 12 more years.

Apparently, the Chiefs have won the lottery.

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This is a huge signing for both the Chiefs and the quarterback marketplace. This puts the Chiefs in a great position for the next decade with Mahomes, a franchise quarterback, locked up with plenty of cap space left to spare.

This deal shows both how valuable Mahomes is to the Chiefs' future and how much faith and trust Mahomes has in the franchise to continue to build a team around him and continue winning Super Bowls. This makes the Chiefs the odds-on favorite to win the AFC for years to come.

On the other side of the deal, when it comes to the other quarterbacks in the league this deal will have ripple effects which will affect the negotiations of other quarterbacks on the market, such as Dak Prescott.

Mahomes is going into his fourth season in the NFL. In his three seasons in the league he, along with Lamar Jackson, have already further evolved the quarterback position, with their combination of throwing power and accuracy, along with their scrambling ability. Mahomes won the MVP award in 2018 following his first full season at the helm of Kansas City's offense.