And Chiefs chairman Clark Hunt said those negotiations will commence soon.
"The negotiations are something we'll be getting into this summer," he told Dallas' 105.3 The Fan during a Facebook Live event. "But what he has said and what we've said, both sides is, he wants to be a Kansas City Chief for life, and that's our mentality as well. We want him to play his entire career in Kansas City, and that's what we're going to be shooting for."
Mahomes, 24, has an incredible resume just three years into his career. In 2018, his first season as the starter, he threw for 5,097 yards, 50 touchdowns and just 12 interceptions, completing 66 percent of his passes. He was named the NFL's MVP, and for good reason—it was one of the best quarterback seasons in NFL history.
His passing yards that year were the ninth most in a single season in NFL history. His 50 touchdowns tied him for second, making him one of three quarterbacks to ever hit the 50-TD plateau. The company he joined is elite—Peyton Manning had 55 in 2013, while Tom Brady hit 50 in 2007.
Mahomes didn't reach that statistical highpoint in 2019, missing two games to injury and throwing for 4,031 yards, 26 touchdowns and five interceptions, completing 65.9 percent of his passes. But he did lead the Chiefs to a Super Bowl title, far more important than any counting stats.
And Hunt said what has impressed him the most about Mahomes is his leadership:
"We knew he had these special physical gifts. We had seen him on the practice field. We'd seen the no-look throws. We had seen the 70-yard bombs, all that stuff—I'm not sure we had seen the left-handed throw but maybe. But anyhow, we knew we had that. But the pleasant surprise was what a great leader he was at age 23. An NFL locker room is a very difficult place to come into as a young player and lead, but it was very evident that the entire team was looking up to him in his first year as a starter—and of course that carried over into this past season."
And it will all likely lead to a monster contract this summer.