Johnny Kemp will have to step aside.
The thing that everyone has long expected for months has surprisingly come to fruition early:
Patrick Mahomes got PAID.
The quarterback and 2020 superbowl MVP inked a ten-year extension deal with the Kansas City Chiefs Monday, making him the highest-paid player in NFL history.
We have signed QB Patrick Mahomes to a 10 year extension. Mahomes secured with Chiefs for the next 12 seasons. pic.twitter.com/ZsADdVkvxZ
— Kansas City Chiefs (@Chiefs) July 6, 2020
The #Chiefs and QB Patrick Mahomes have agreed to terms on a 10-year extension worth $503 million, sources tell me and @TomPelissero. He gets $477M in guarantee mechanisms and gives the ability for Mahomes to have outs if the guarantee mechanisms aren’t exercised. No trade clause
— Ian Rapoport (@RapSheet) July 6, 2020
Mahomes will reportedly receive $503 million in total, and is going to garner $477 million in ‘guarantee mechanisms,’ per Rapoport. In all likeliness, the guarantee mechanisms are going to be guaranteed bonuses that kick in at a certain time in the contract.
Here’s a breakdown of the cash flow on Patrick Mahomes’ new contract with the #Chiefs. It’ll take more than one tweet to fully explain, but the bonuses have varying vesting dates that paint a fuller picture of how the deal works. pic.twitter.com/LepwqYMT0K
— Tom Pelissero (@TomPelissero) July 6, 2020
At the same time, Mahomes is going to have some flexibility in his historic contract with the Chiefs. The reigning Super Bowl MVP will have the opportunity to opt-out at specific points in his deal.
To top it off, Kansas City gave Mahomes a no-trade clause — giving him the ability to deny any trade the Chiefs would involve him in. But, given the performance of the talented quarterback the last three seasons, that shouldn’t be of concern anytime soon.