Patrick Mahomes and Kansas City Chiefs seal record-breaking 10-year contract extension worth reported $503m

The Kansas City Chiefs have agreed a new long-term contract with star quarterback Patrick Mahomes that will see him remain at Arrowhead Stadium for the next 12 years.

2017 first-round draft pick Mahomes - regular-season MVP in 2018 - was named MVP of Super Bowl LIV in February as he led Andy Reid's team to a stirring fourth-quarter comeback win over the San Francisco 49ers in Florida and has become one of the biggest names in the NFL since taking over the starting job following a redshirt rookie season.

The 24-year-old has now been handsomely rewarded for ending Kansas City's 50-year wait for a second league championship, inking a 10-year contract extension with the franchise reported to be worth up to $503million including incentives, according to ESPN's NFL insider Adam Schefter.

If those reported figures are indeed accurate, the agreement easily surpasses baseball star Mike Trout's 12-year, $426.5m deal with the Los Angeles Angels signed last year as the richest in sporting history.

Mahomes had two years left to run on his existing contract, meaning he is now tied to the Chiefs until at least 2031.

"This is a significant moment for our franchise and for the Chiefs Kingdom," said Chiefs chairman and CEO Clark Hunt.

"Since he joined the Chiefs just a few years ago, Patrick has developed into one of the most prolific athletes in all of sports.

"With his dynamic play and infectious personality, he is one of the most recognised and beloved figures to put on the Chiefs uniform.

"He's an extraordinary leader and a credit to the Kansas City community, and I'm delighted that he will be a member of the Chiefs for many years to come."

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