Where Patrick Mahomes' Historic $503M Contract Ranks Among All-Time Sports Deals

Tim Daniels@TimDanielsBRFeatured ColumnistJuly 6, 2020

Kansas City Chiefs quarterback Patrick Mahomes (15) gestures after Damien Williams scores his second touchdown, during the second half of the NFL Super Bowl 54 football game Sunday, Feb. 2, 2020, in Miami Gardens, Fla. The Chiefs' defeated the 49ers 31-20. (AP Photo/Charlie Riedel)
Charlie Riedel/Associated Press

Kansas City Chiefs quarterback Patrick Mahomes signed a 10-year, $503 million contract extension Monday, making him the first player in sports history to sign a contract worth more than a half-billion dollars.

Here's a look at the other top earners based on total contract value, per Forbes' Kurt Badenhausen:

  • Floyd Mayweather (Boxing): $450 million
  • Mike Trout (MLB): $430 million
  • Canelo Alvarez (Boxing): $365 million
  • Bryce Harper (MLB): $330 million
  • Giancarlo Stanton (MLB): $325 million

Steinberg Sports, Mahomes' agency, confirmed the terms of the agreement, noting the quarterback gets "$477M in guarantee mechanisms and ability to have outs if guarantee mechanisms aren't exercised."

There is also a no-trade clause in the contract, per the agency.

Mahomes' extension will go into effect after the final two years of his current deal are complete and will link him with the Chiefs through the 2031 NFL season, per Adam Schefter of ESPN.

The 24-year-old Texas Tech product's lucrative, long-term deal was widely expected after he led Kansas City to a 31-20 triumph over the San Francisco 49ers in Super Bowl LIV in February.

He's already building the foundation for a Hall of Fame career after the Chiefs selected him with the 10th overall pick in the 2017 draft. He was named the NFL regular-season MVP and Offensive Player of the Year in 2018 and he's earned a Pro Bowl selection in each of his first two years as the team's starter.

Mahomes discussed his desire to remain in K.C. for the long haul in May.

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"I want to be a Chief for a long time," he said. "I want to have a contract that says that and then I can go out there and know I have that security and everything like that. I understand and trust the Chiefs' organization and everybody in it will handle it the right way. I trust my representation that they're going to ease my mind and let me go out there and just love the game that I've loved playing. Whenever it happens, it happens."

No position in major team sports carries more weight in determining a team's championship hopes than an NFL quarterback. A great one like Mahomes instantly transforms a franchise into a title contender.

In turn, it's no surprise the current gold standard for QBs was rewarded with a record-setting contract.