Patrick Mahomes' 5th-Year Contract Option Reportedly Picked Up by Chiefs

The Kansas City Chiefs are exercising Patrick Mahomes' team option for 2021, according to NFL Network's Ian Rapoport.

Mahomes is eligible to become a free agent in 2022. Tom Pelissero of NFL Network reported April 6 a long-term extension for the 2018 MVP was expected to arrive after the draft once the Chiefs had a full picture of their roster.

NFL Network's James Palmer echoed the report Monday, saying Chiefs general manager Brett Veach and team chairman Clark Hunt were looking to get something done sooner rather than later:

Everybody expects Mahomes to get an extension at some point. It's impossible to imagine Kansas City fails to keep a 24-year-old quarterback with a Super Bowl title, two Pro Bowl selections, an All-Pro nod and the aforementioned MVP under his belt.

Mahomes is so good, however, that his next contract isn't quite as straightforward as extensions for other quarterbacks coming off their rookie deals.

Russell Wilson's $35 million average salary with the Seattle Seahawks is the highest in the NFL, per Spotrac. The question isn't whether Mahomes will surpass that number, but by how much.

The inevitable consequence of paying Mahomes is that the Chiefs will have far less money to go around. The fact that Chris Jones, who's playing on the franchise tag in 2020, is due a new contract as well will exacerbate the situation.

"When you're dealing with players of this magnitude, they're certainly cornerstones in this organization," Veach said of the two players, per The Athletic's Nate Taylor. "Now that [the draft] is behind us, we have a window now that we can kind of reset as an organization. We have a lot of time, and this will be the focus on where we are to make sure we get these guys locked up."

The Chiefs have had time to plan ahead for 2022 when Mahomes' new deal would go into effect.

Still, balancing his pay raise with the team's ability to keep its best players and re-sign reinforcements won't be easy for Veach and the front office.