Jul 06, 2020 9:32 PM

UPDATE: Chiefs make it official, sign Mahomes to 10-year extension

Posted Jul 06, 2020 9:32 PM

UPDATE: ESPN is now reporting that Mahomes' new 10-year contract extension is worth up to $503 million, making it the largest contract in pro sports history.

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UPDATE: The Kansas City Chiefs have officially announced the signing of quarterback Patrick Mahomes to a 10-year contract extension. From The Kansas City Chiefs Facebook page: 

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KANSAS CITY, Mo. -- Patrick Mahomes and the Kansas City Chiefs have reached a deal on a 1-year contract extension, ESPN's Adam Schefter is reporting today.

Schefter reported that league sources have told him the contract extension is worth $450 million, and barring accident or trade, will keep the star quarterback with the team through the 2031 season. The contract also includes a $140 million injury guarantee, a source told Schefter.