Patrick Mahomes signs record-setting contract extension with Chiefs

Patrick Mahomes has signed a contract extension with the Kansas City Chiefs, making him the first NFL player with a deal worth over $500 million. The new agreement adds two years to his contract, locking him in through 2033 for a total value of $504.75 million. The deal guarantees $239.05 million in new money, with the potential to earn up to $522.25 million through incentives. As a three-time Super Bowl winner, Mahomes is widely regarded as a top quarterback, and securing him for an extended period benefits the franchise's future, especially with head coach Andy Reid likely nearing retirement. Mahomes' significant contract also comes amid concerns about his recovery from recent injuries.

• 9:29 PMYahoo Sports — Grading Patrick Mahomes' record-setting monster deal with the Chiefs