KANSAS CITY, Mo. -- The Chiefs have their guy for the long haul.
Superstar quarterback and Super Bowl MVP Patrick Mahomes has agreed to terms on a 10-year extension that will keep him in Kansas City through the 2031 season, ESPN's Adam Schefter reported Monday afternoon.
Schefter later reported the deal is worth more than $400 million.
The Chiefs, who started the day with $6.2 million in available cap space, apparently got creative with Mahomes' deal. Citing sources, Schefter reports the extension will be tied to a percentage of the salary cap every season, which means Mahomes can earn more each year as the cap increases.
Since joining the Chiefs in 2017 as a first-round pick, Mahomes, who turns 25 on Sept. 17, has certainly earned a lucrative contract.
The Chiefs said throughout the offseason that taking care of him was a priority. Just days after the 2020 NFL Draft, they used a fifth-year contract option on Mahomes' rookie deal to buy themselves time to get a new agreement done.
"Pat is a priority and the way we look at it now with all that's going on, I mean, we're going to have a lot of time to work with," Veach said in late April. "Again, just Pat and his agents, Chris (Cabott) and Leigh Steinberg, they know that Pat is a priority. Pat isn't going anywhere. He's going to be here for a long time."
In addition to helping the Chiefs win their first Super Bowl championship in 50 years, Mahomes has established numerous NFL and team passing records since becoming the full-time starter in 2018.
Mahomes' already staggering list of career achievements include being named the NFL MVP in 2018 -- the season he became just the second man in league history to throw for 5,000 yards and 50 touchdowns -- Super Bowl LIV MVP and the fastest player to reach 7,500 career passing yards (at age 24).
Over the past two regular seasons, Mahomes boasts a 23-7 record while totaling 9,128 yards passing and 76 touchdowns with 17 interceptions. He also showed he could get it done with this legs by rushing for 490 yards and four touchdowns on 103 carries.
With the new contract, the Chiefs and Mahomes are together through the 2031 campaign, when the superstar signal-caller will be 36.
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