Patrick Mahomes' record-breaking $503 million contract is so big the Kansas City Chiefs have taken out insurance in case it all goes wrong
- The Kansas City Chiefs have added an insurance policy to Patrick Mahomes record breaking $503 million contract.
- According to ESPN, the policy protects the Chiefs in the event that Mahomes suffers a serious injury and is unable to play, while also providing salary-cap credit for any missed time.
- Mahomes signed the most lucrative contract in NFL history in July, penning a 10-year extension with the Chiefs that will keep him with the team through the 2031 season.
The Kansas City Chiefs have added an insurance policy to Patrick Mahomes record breaking $503 million contract.
Mahomes signed the most lucrative contract in NFL history in July, penning a 10-year extension with the Chiefs that will keep him with the team through the 2031 season.
According to ESPN, the policy protects the Chiefs in the event that Mahomes suffers a serious injury and is unable to play, while also providing salary-cap credit for any missed time.
The 24-year-old quarterback is guaranteed at least $140 million over the course of his decade long deal, however that sum could rise to $503 million thanks to performance based incentives.
Mahomes joined the Chiefs as 10th overall pick in the 2017 NFL Draft. In his first season with the team, he was named as the NFL's Most Valuable Player, while in 2019, he guided the Chiefs to their first Super Bowl in 50 years.
The Chiefs kick off their Super Bowl defence against the Houston Texans on Friday September 11.
Read more:
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- Patrick Mahomes beat Post Malone in beer pong so bad the singer got a tattoo of the quarterback's autograph
- Why Patrick Mahomes' record-breaking $503 million contract extension still looks like a bargain for Kansas City