The Kansas City Chiefs have added an insurance plan to the record-setting, 10-year extension signed by quarterback Patrick Mahomes in July, a source informed ESPNs Field Yates.
The move safeguards the Chiefs, who begin their Super Bowl title defense Thursday night against the Houston Texans, on the occasion that an injury prevents Mahomes from being readily available to play. It also has salary-cap ramifications, as Kansas City would receive a corresponding salary-cap credit.
Insurance coverage policies are not extremely common in football contracts, but given the $140 million in ensured money that Mahomes received, both sides knew the choice would be carried out prior to the start of the regular season.
1 RelatedThe agreement was settled in July and is the largest in NFL history– its worth $450 million over the 10-year period and might grow to $503 million. Mahomes extension includes a $140 million injury warranty along with a no-trade provision.
The Chiefs got Mahomes fifth-year option for the 2021 season in April, putting him under agreement for the next two seasons. Mahomes had two years and $27.6 million left on his offer– $2.8 million this year and $24.8 million in 2021. The 10-year extension puts him under contract with the Chiefs for the next 12 seasons.
Mahomes will receive $83 million-plus in signing perks from 2021 to 23 ($21.7 million in 21, $27.4 million in 22, $34 million-plus in 23). Those very first three years are totally ensured, ESPN reported formerly.
