On Sunday, Adam Schefter of ESPN reported Mahomes, who's eligible for a new deal after the 2019 season, is expected to get an extension offer "dwarfing" the four-year, $134 million contract Aaron Rodgers received from the Green Bay Packers, which included $98.7 million in guaranteed money, per Spotrac.
The 23-year-old Chiefs quarterback is the heavy favorite, per OddsShark, to be named the 2018 NFL MVP during the NFL Honors awards show Feb. 2, the night before Super Bowl LIII. He completed 66 percent of his throws for 5,097 yards and 50 touchdowns with 12 interceptions during the regular season.
Mahomes will lead K.C. into the AFC Championship Game against the New England Patriots on Sunday after a win over the Indianapolis Colts in the divisional round. He didn't toss any touchdowns in that game, but he threw for 278 yards and tallied a rushing score in his first playoff start.
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The Texas Tech product is an ideal fit for Andy Reid's offense, and the Chiefs head coach told Vahe Gregorian of the Kansas City Star that one extensive meeting before the 2017 draft convinced Reid that Mahomes was their quarterback of the future.
"So I'm going ... 'He better be able to learn it, or we're going to have to take these massive steps backward,'" Reid said. "And so [Mahomes] was able to handle it. I'm not saying the other kids couldn't. But he was able to handle it, and we felt real good about that."
He added: "It's hard to hide after eight hours with somebody. You're coming at him from a lot of different directions."
Kansas City proceeded to make a trade with the Buffalo Bills, sending its first-round picks in 2017 and 2018 as well as a 2017 third-round selection in exchange for the No. 10 choice, to get Mahomes.
He's already proved well worth that investment, and it appears he's on his way to becoming the highest-paid player in NFL history sometime in early 2020.