Patrick Mahomes signs richest sports deal in history


At just 24 years of age, NFL quarter-back Patrick Mahomes has signed the richest contract in sports history, agreeing to a long-term extension with the Kansas City Chiefs worth US$503 million.

Mahomes’ agency Steinberg Sports stated in a tweet that the deal is worth US$503 million, including US$477 million in guarantee mechanisms. He has an injury payout of US$140 million and he is now contracted to the Kansas City Chiefs through 2031.

Mahomes is in the final year of his rookie deal at US$2.8 million in 2020 with his fifth-year option slotted at US$24.8 million in 2021.

Mahomes’ salary is enhanced by endorsements from Adidas, Oakley, Essentia Water, Hy-Vee, State Farm, DirectTV, and Hunt’s.

It is certain to catapult him into the <i>Forbes</i>’ 2021 World’s 100 Highest-Paid Athletes list. Tennis player Roger Federer was the highest-paid athlete in<i>Forbes</i>’ 2020 list with total earnings of US$106.3 million. The 2019 highest-paid athlete, Barcelona football player Lionel Messi fell to the third spot after earning $104 million, with his earnings and endorsements hit by the coronavirus pandemic. Juventus forward Christiano Ronaldo earned US$105 million to be second behind Federer.

Roger Federer has endorsements from many major business, including On Running.

“Since he joined the Chiefs just a few years ago, Patrick has developed into one of the most prolific athletes in all of sports,” Kansas City Chiefs chairman Clark Hunt said in a statement about Patrick Mahomes who led them to their first championship in 50 years.

“With his dynamic play and infectious personality, he is one of the most recognised 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.”

Baseball star Mike Trout held the previous record after signing a 12-year, US$426 million deal in 2019.

The Chiefs already had picked up their fifth-year option in April on Mahomes, who had been due to make US$825,000 on the final year of his rookie contract this season, to keep him around at least through 2021.

Mahomes threw touchdown passes on consecutive fourth-quarter drives as the Chiefs came back to win their first Super Bowl title in 50 years. Mahomes was awarded the Most Valuable Player award and cemented his status as the face of the Kansas City franchise.

Mahomes is 24-7 as a starter, completing 65.9% of his passes with 76 touchdowns and only 18 interceptions. Mahomes is 724 of 1,099 for 9,412 yards passing averaging 303.6 yards per game with a 108.9 career quarterback rating.


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