Patrick Mahomes has inked the largest contract in sports history. NFL.com’s Ian Rapoport reports (via Twitter) that the quarterback’s 10-year extension is worth up to $503MM. The deal includes $477MM in “guarantee mechanisms.” Mahomes has the ability to opt out of the deal if “the guarantee mechanisms aren’t exercised,” and the contract also includes a no-trade clause.
Mike Florio of ProFootballTalk.com explored those new “guarantee mechanisms,” noting that it’s “new terminology as far as NFL contracts are concerned.” Florio believes the deal includes rolling guarantees, and the Chiefs will have to make a commitment to their quarterback (a year out, per Rapoport) each offseason. If the organization decides they “don’t want to make the commitment for the next season,” then Mahomes will have the ability to hit free agency.
Mahomes is the first professional athlete to sign a deal worth half a billion dollars, and as Rapoport points out on Twitter, it’s the first time an NFL player has held the title of “highest-paid player in sports history.” Even Mahomes’ $477MM in “guarantee mechanisms” exceeds the 12-year, $426.5MM deal that Mike Trout signed with the Los Angeles Angels in 2019. The $50.3MM average annual value tops Portland Trail Blazers star Damian Lillard‘s $49MM AAV (part of a four-year, $196MM deal that will begin in 2021).
Matt Ryan previously held the NFL record for largest contract after inking a five-year, $150MM deal with the Falcons in 2018. Russell Wilson set the NFL’s new AAV mark last offseason after signing a four-year, $140MM deal with the Seahawks.
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