Chiefs, Chris Jones Agree To Deal
Chris Jones is on the verge of a brand new contract. The Chiefs have agreed to a fresh four-year deal with their star defensive tackle, according to Chris Mortensen of ESPN.com (Twitter link). Jones is scheduled to earn up to $85MM over the life of the deal, including $60MM in guarantees, according to Ian Rapoport of NFL.com (on Twitter).
Jones will receive $37MM guaranteed at signing, Adam Schefter of ESPN.com tweets, noting that this is a four-year, $80MM deal that features another $5MM available via incentives. Among interior D-linemen, Jones now sits third in guaranteed money and fourth in fully guaranteed funds. 
This year’s franchise tag extension deadline is largely quiet due to fiscal uncertainty, but Jones proved to be an exception. Many doubted whether Jones would hit his desired $20MM+ average annual value demand, but his camp got it done. Jones’ deal ended up coming in just south of DeForest Buckner‘s recent $21MM-per-year Colts pact.
Earlier this month, Jones threatened a holdout via Twitter, referencing Le’Veon Bell‘s infamous standoff with the Steelers. In reality, a holdout would have been extremely risky for the 25-year-old. A season-long holdout could have delayed Jones’ entry into free agency and cost him roughly $1MM per game – his tender was valued at $16.1MM for the 2020 season.
Last year, Jones graded out as Pro Football Focus’ No. 7 ranked interior defensive lineman in the league and notched nine sacks. In 2018, when he saw more time on the edge, he registered 15.5 sacks. He’s one of the best IDLs in the game today, and he’s still approaching his prime seasons.
Currently, the defensive tackle market is led by Aaron Donald ($22.5MM/year). Meanwhile, Bears superstar Khalil Mack ($23MM AAV) leads all defensive players in average annual value.
Latest On Chiefs’ Chris Jones, Bengals’ A.J. Green
And then there were three. With Broncos safety Justin Simmons and Buccaneers edge rusher Shaquil Barrett agreeing to sign their franchise tenders, Chiefs defensive tackle Chris Jones, Bengals wide receiver A.J. Green, and Jaguars defensive end Yannick Ngakoue are the only franchised players whose statuses remain uncertain.
As Jeremy Fowler of ESPN.com reports, there may be some progress on the Jones front (video link). We recently heard that talks between Jones and the Chiefs had stalled, and that Jones is prepared to hold out until he gets the contract he wants. But Fowler says player and team have finally resumed negotiations, which is a big deal in and of itself considering that there had been radio silence for months.
However, there is still plenty of work to be done. Though Jones has been reportedly aiming for a deal with an average annual value of about $20MM, Fowler reports that KC will have to pony up “well over” the $20MM figure if it wants to get an extension completed. As good as Jones is, it’s unclear if the two sides will be able to bridge the gap in advance of the July 15 deadline.
Unlike Jones and the Chiefs, Green and the Bengals have discussed an extension recently. It doesn’t sound as if those discussions have been particularly fruitful, however, as Fowler notes there is not much optimism regarding a multi-year contract
Green has indicated previously that he will not hold out if he does not get a long-term deal of his liking, and given the new CBA’s rules for players holding out after having signed a contract as a veteran, that makes sense. A Jones holdout would be much more likely, as Jones just finished his rookie contract and has not yet signed a pact as a veteran player.
Chiefs To Waive QB Shea Patterson
Shortly after the Chiefs brought back Matt Moore, they are moving on from Shea Patterson. The defending Super Bowl champions will waive the rookie UDFA quarterback, Field Yates of ESPN.com tweets.
Kansas City signed the former Michigan Wolverines starter shortly after the draft, doing so following their addition of XFL passer Jordan Ta’amu. The Chiefs will drop from five quarterbacks to four with this move, going forward with Chad Henne, Moore and Ta’amu behind Patrick Mahomes.
Patterson loomed as a possible early-entry candidate ahead of the 2019 draft and was rumored as a later-round pick this year. Neither scenario transpired for the former Big Ten standout. Patterson combined for 45 touchdown passes and 15 interceptions over the past two seasons.
With the COVID-19 pandemic nixing teams’ onsite offseason work, rookies are set for uphill battles going into training camps. Quarterbacks’ learning curves being what they are, the UDFA passers teams signed will be in for more hurdles than normal once training camps start — if they are to begin on time.
The Chiefs will go with one of the most experienced backup quarterback groups in recent memory. Moore and Henne came into the league in 2007 and ’08, respectively. Ta’amu profiles as a practice squad candidate.
Chiefs To Re-Sign Matt Moore
Matt Moore has re-signed with the Chiefs, as Terez Paylor of Yahoo Sports tweets. Financial terms are not yet known, but the quarterback will return on a one-year deal to serve as Patrick Mahomes‘ backup.
[RELATED: Latest On Patrick Mahomes’ Record Extension]
It’s safe to assume that Moore’s deal will come at a fraction of Mahomes’ brand new ten-year extension that could come out to more than $500MM. That’s probably alright by Moore, who captured a Super Bowl ring last year as the Chiefs’ QB2.
Moore was called into action in October, when Mahomes suffered a knee injury against the Broncos. At the time, it seemed like Mahomes’ entire season was in jeopardy. Instead, Mahomes exceeded all expectations for his recovery, leaving Moore with just two starts. Moore came out of those games with a split win/loss record, beating the Vikings 26-23 in Week 9. In total, he suited up six times and completed 59 of 91 throws with four touchdowns against zero interceptions.
The Chiefs initially signed Moore to replace Chad Henne on the depth chart. Henne inked a new deal with KC earlier this year, but the return of Moore could force him out. Jordan Ta’amu and Shea Patterson are also on the offseason roster – ultimately, there will be room for no more than two passers behind Mahomes.
Latest On NFL, COVID-19
While the NFL and NFLPA are reportedly close to agreeing to a set of gameday protocols that would nominally attempt to prevent the spread of COVID-19, the two sides still haven’t officially worked out an accord regarding a training camp and preseason schedule. Let’s take a look at the latest as the league and the union work through a variety of health-related issues:
- NFLPA president J.C. Tretter recently outlined the union’s stance on a number of items, including support for a NFL/NFLPA Joint Committee of doctors-recommended 48-day training camp schedule and the elimination of the preseason (the league prefers to keep two exhibition games in place). While the NFL didn’t publicly comment on Tretter’s piece, one source called the post “very disappointing and contrary to the sense of collaboration going back to the early days of mid-March,” tweets Tom Pelissero of NFL.com.
- The timing of training camp and the length of the preseason remain key issues. The NFL wanted players to report for camp earlier than the CBA allows in order to fit in a longer schedule, but the union has declined to do so, per Pelissero (Twitter link).
- The aforementioned Joint Committee recommended one-to-two preseason games, but the league is still standing firm on zero exhibition games, according to Mark Maske of the Washington Post (Twitter link). Appearing on WEEI, NFLPA senior director of player affairs Don Davis questioned why two preseason games would be any safer than four. A source tells Jeremy Fowler of ESPN.com (Twitter link) that preseason contests are likely to be used a bargaining chip.
- Amidst the ongoing pandemic, a number of clubs have proactively announced that games will feature limited capacity seating. Of course, those teams are assuming that fans will be allowed to attend contests at all, which is far from a given at this point. So far, the Packers, Chiefs, and Ravens have each announced plans for reduced capacities.
Latest On Patrick Mahomes’ Record Extension
The Chiefs have their quarterback signed to an unprecedented contract, with the 10-year, $450MM deal — which could be worth up to $503MM — tying him to the team through the 2031 season. Mahomes is the only current NFLer signed beyond 2026. Here is the latest on the deal:
- Although Patrick Mahomes‘ contract contains just $63MM fully guaranteed — fifth among quarterbacks, and more than $30MM behind Matt Ryan‘s record number — that number will bump up to $106MM by March, NFL.com’s Ian Rapoport tweets. By March 2022, that number spikes to $141MM. By March 2023, it rises to $180MM (Twitter links via ex-GM Mike Tannenbaum and veteran NFL reporter Jason Cole).
- Beginning in 2022, Mahomes has incentives tied to MVPs and AFC titles. Although those are quite difficult to come by, the 24-year-old superstar already has two such accomplishments. Every Mahomes MVP or Super Bowl appearance will trigger a $1.25MM bonus, Adam Schefter of ESPN.com tweets. That totals $25MM and vaults the contract to the $503MM figure.
- Mahomes’ camp gave in a bit on signing bonus money but secured massive roster bonus payouts, Jeremy Fowler of ESPN.com tweets. The “guarantee mechanisms” will generate roster bonuses north of $30MM from 2023-28. This structure peaks with a monster $49MM bonus payout in 2027, according to OverTheCap. As for cap hits, Mahomes’ numbers do not become gigantic until 2022. This year, Mahomes will count barely $5MM toward the Chiefs’ cap; in 2021, that number jumps to $24.8MM. After a $31MM hit in 2022, the quarterback will count at least $39MM toward Kansas City’s cap in the deal’s final nine seasons. This peaks with two $50MM-plus cap years in 2030-31, though the sides could naturally be expected to have a new deal in place by then.
- Citing the shocking number of years Mahomes gave up to get to a $45MM-AAV number, Mike Florio of Pro Football Talk writes the quarterback would have done better by waiting and securing a shorter-term deal. “It’s like he had no leverage,” an NFL source indicated to Florio regarding Mahomes’ deal. Mahomes will have security amid an uncertain financial time for the NFL, which could see its projected growth fail to materialize for a while. But if Deshaun Watson and Lamar Jackson opt for extensions that allow them the chance to re-sign while still in their 20s, both can be expected to surpass Mahomes’ $45MM number midway through the Chief’s deal.
- Watson and Jackson can be expected to top $40MM per year, Michael Lombardi of The Athletic writes (subscription required), adding that Dak Prescott‘s agent (Todd France) will argue his client should be paid $40MM annually. The Cowboys are not believed to have offered their franchise-tagged quarterback more than $33MM per year. The Texans, however, were linked to a $40MM-plus-AAV Watson deal before Mahomes signed.
Andy Reid Open To Coaching Past 70
Seventh on the NFL’s all-time wins list, Andy Reid said after the Chiefs’ Super Bowl LIV triumph he did not have near-future retirement plans. The eighth-year Chiefs coach provided more clarity on a timeline Tuesday.
Patrick Mahomes‘ 10-year extension has him under contract through 2031. The 62-year-old Reid said coaching well into this extension is on the table. Reid said “if it takes me into my 70s, let’s roll,” via the Kansas City Star’s Herbie Teope (Twitter link), when asked about the extension’s effect on his career. Mahomes soon added that Reid told him he plans on being the Chiefs’ HC throughout the extension (Twitter link via The Athletic’s Nate Taylor).
This will be Reid’s 22nd season as a head coach. He spent 14 seasons (1999-2012) as the Eagles’ sideline leader. Since coming to Kansas City, Reid has guided the Chiefs to six playoff appearances in seven seasons and is responsible for five of the franchise’s eight playoff wins since the 1970 AFL-NFL merger. In his first season in Kansas City, Reid turned the Chiefs from a 2-14 team to an 11-5 playoff-bound squad.
Reid is under contract through the 2021 season, but after Mahomes’ record-setting pact, another Reid re-up should be on tap. With seven wins this season, Reid (207 career victories) can move past Paul Brown for sixth on the all-time wins list. Reid is currently the NFL’s fifth-oldest active HC — behind Pete Carroll, Bill Belichick, Bruce Arians and Mike Zimmer.
Status Of All 15 Tagged Players Prior to July 15 Extension Deadline
The clock is ticking for tagged players to sign extensions with their teams, per the league calendar.
July 15: At 4:00 p.m., New York time, deadline for any club that designated a Franchise Player to sign such player to a multiyear contract or extension. After this date, the player may sign only a one-year contract with his prior club for the 2020 season, and such contract cannot be extended until after the club’s last regular season game.
With less than nine days remaining until the deadline, let’s take a look at where each of the 15 tagged players stand.
Already Signed Tag
- RB Kenyan Drake*, Cardinals: Engaged in talks with organization (4/15)
- LB Bud Dupree, Steelers: May not receive long-term deal (6/17)
- S Anthony Harris, Vikings: No reports, will let agent and Vikings do the work (5/17)
- RB Derrick Henry, Titans: Engaged in talks with organization (6/11)
- TE Hunter Henry, Chargers: Sides “were close” to an extension (4/29)
- LB Matt Judon, Ravens: Content playing on franchise tag (6/16)
- QB Dak Prescott, Cowboys: Wants four years, Cowboys want five years (6/22)
- OG Brandon Scherff, Redskins: Confident he’ll receive extension (4/11)
- OG Joe Thuney, Patriots: Engaged in talks with organization (3/17)
- DT Leonard Williams, Giants: To file grievance over position, hoping for extension (4/23)
*Received transition tag (vs. franchise tag)
Haven’t Signed Tag, Won’t Hold Out
- LB Shaquil Barrett, Buccaneers: Will sign tag if extension isn’t signed (6/29)
- WR A.J. Green, Bengals: Will sign tag if extension isn’t signed (6/21)
- S Justin Simmons, Broncos: Engaged in talks with organization (4/20)
Haven’t Signed Tag, Threatening Hold Out
- DT Chris Jones, Chiefs: Threatening holdout (7/1)
- DE Yannick Ngakoue, Jaguars: Wants trade, prepared to sit out 2020 season (7/2)
Patrick Mahomes’ Extension Worth Up To $503MM
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.
Chiefs Sign Patrick Mahomes To 10-Year Extension
In an offseason featuring little action on the extension front, the Chiefs broke through Monday with a monster deal. They have agreed to terms with Patrick Mahomes on a 10-year extension that will tie the quarterback to Kansas City through the 2031 season, Adam Schefter of ESPN.com reports (on Twitter). The Chiefs have announced the deal.
This marks the first NFL contract to go beyond the 2020s, and it stands to keep the 2018 MVP and Super Bowl LIV MVP in Kansas City through his age-36 season. Mahomes has only started two seasons, but the 2017 No. 10 overall pick has changed the trajectory of a franchise that for decades opted for veteran stopgaps at quarterback.
Mahomes’ extension will be worth a whopping $450MM, Schefter tweets, adding that $140MM is guaranteed. Both figures shatter NFL records. Mahomes’ $45MM-per-year price tag — a staggering $10MM increase on Russell Wilson‘s $35MM-AAV deal that previously resided as the NFL salary benchmark. As far as guarantees go, Mahomes’ bests the previous leader — Jared Goff‘s 2019 re-up — by $30MM.
This contract came together quickly. Mahomes and the Chiefs only began negotiating in late May. The superstar passer, whose rookie contract runs through 2021, became extension-eligible after the 2019 regular season’s conclusion.
The deal was rumored to contain a game-changing sweetener. Multiple sources believed the contract was set to tie Mahomes’ salaries to a percentage of the salary cap (Twitter links via Schefter and CBS Sports’ Jason La Canfora). While that would have made the pact historically player-friendly, Schefter reports that the Chiefs did not include such a provision in the contract. The Chiefs began negotiations against such an arrangement, per Schefter (on Twitter).
Still, star-caliber players have increasingly opted for shorter-term deals in order to maximize earning potential. Mahomes, 24, is zagging in a historic direction. This market-resetting deal will likely play a key role in how Dak Prescott and Deshaun Watson proceed in their respective extension negotiations.
The Chiefs traded up 17 spots for Mahomes three years ago and made the rare decision to sit him as a rookie. When Mahomes succeeded Alex Smith in his second season, the NFL landscape shifted. The Texas Tech product torched defenses throughout 2018, joining Peyton Manning and Tom Brady in the 50-touchdown pass club. After another strong season, Mahomes is 2-for-2 in AFC championship game appearances. While an offside call led to the Chiefs falling short of Super Bowl LIII, Mahomes orchestrated three come-from-behind playoff victories to give the franchise its first championship in 50 years this past season.
In his two seasons as the Chiefs’ starter, Mahomes has 76 touchdown passes — eight more than any other quarterback through two seasons. Mahomes is also the only player to surpass 9,000 passing yards in his first two seasons as a starter, doing so despite missing two games last season with a knee injury.
Kansas City’s redefining re-up also arrives at a strange time. The NFL and NFLPA are in the process of negotiating a new financial reality. A season without fans in the stands threatens to reduce the 2021 salary cap, and if the league must borrow from projected future revenue to prevent such a scenario, it will have major financial ramifications. For Mahomes to agree to a deal under these circumstances says plenty about his desire to stay in western Missouri and the terms of said agreement. Mahomes is the first NFLer to be under contract for 12 years since fellow Andy Reid pupil Donovan McNabb signed his first Eagles extension in 2002 (h/t ESPN’s Field Yates).
Mahomes’ new deal will change the equation for the Chiefs, who have authorized a few high-priced contracts in recent years to take advantage of their quarterback’s rookie-deal window. The Chiefs have checked off their biggest contract task of the offseason (and in franchise history). They now have nine days to finalize a deal with franchise-tagged defensive tackle Chris Jones. As of last week, the sides are not believed to be close on terms.