Chiefs add insurance policy to QB Patrick Mahomes’ record extension, source says
The Kansas City Chiefs have extra an insurance plan coverage to the file-placing, 10-12 months extension signed by quarterback Patrick Mahomes in July, a supply explained to ESPN’s Area Yates.
The move guards the Chiefs, who start off their Super Bowl title protection Thursday night time versus the Houston Texans, in the occasion that an personal injury stops Mahomes from being readily available to perform. It also has wage-cap implications, as Kansas City would receive a corresponding wage-cap credit rating.
Insurance policies insurance policies are not overwhelmingly common in football contracts, but presented the $a hundred and forty million in confirmed income that Mahomes been given, both of those sides understood the choice would be executed prior to the start of the normal time.
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The agreement was finalized in July and is the major in NFL history — it’s truly worth $450 million about the 10-12 months interval and could mature to $503 million. Mahomes’ extension includes a $a hundred and forty million personal injury promise as properly as a no-trade clause.
The Chiefs picked up Mahomes’ fifth-12 months selection for the 2021 time in April, putting him under agreement for the up coming two seasons. Mahomes experienced two a long time and $27.6 million left on his offer — $2.8 million this 12 months and $24.8 million in 2021. The 10-12 months extension places him under agreement with the Chiefs for the up coming 12 seasons.
Mahomes will receive $83 million-additionally in signing bonuses from 2021 to ’23 ($21.seven million in ’21, $27.4 million in ’22, $34 million-additionally in ’23). Those initial a few a long time are thoroughly confirmed, ESPN documented formerly.
