Patrick Mahomes #15 of the Kansas City Chiefs holds up the Lamar Hunt trophy after defeating the Tennessee Titans within the AFC Championship Game at Arrowhead Stadium on January 19, 2020 in Kansas City, Missouri.
The Kansas City Chiefs and Super Bowl profitable quarterback Patrick Mahomes have agreed to a 10-year extension worth more than $400 million, in response to experiences.
Mahomes, who led the Chiefs to their first Super Bowl victory in 50 years, is now in place to develop into amongst the highest-paid gamers within the National Football League with his new contract, which is worth a complete of $450 million, in response to ESPN, who first reported the deal. The Texas native is projected to earn roughly $2.7 million this 12 months, heading into the fourth of the five-year rookie deal he signed with the Chiefs in 2017.
Steinberg Sports & Entertainment, who represents Mahomes, didn’t instantly reply to a request for remark.
Mahomes’ projected $450 million deal will tie the biggest contract in sports activities. Boxer Floyd Mayweather beforehand agreed to his personal projected $450 battle deal with Showtime, in response to Forbes. Last March, Los Angeles Angels outfielder Mike Trout additionally agreed to a contract worth more than $400 million.
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In February, Mahomes turned the youngest quarterback to win Super Bowl MVP honors after main the Chiefs to fourth quarter rally to beat the San Francisco 49ers, 31-20 in Super Bowl LIV. Mahomes additionally unseat Tom Brady, previously of the New England Patriots and now with the Tampa Bay Buccaneers, because the NFL merchandise king.
“I want to have a legacy,” Mahomes instructed CNBC in an interview after his Super Bowl win. “But I understand how much hard work it’s going to take.”
Steve Scebelo, interim president of NFL Players, the licensing and advertising and marketing arm of the National Football League Players Association, stated Mahomes’ assist outdoors the Kansas City market helped contributed to a rise in gross sales for merchandise that includes the previous Texas Tech University standout.
“The success off the field and the leadership,” Scebelo stated. “He comes across as somebody fans can root for. Starring in the State Farm ads, you can see some of the personality come through, and he’s just someone fans feel they can connect with and they want to root for.”
In addition to offers with Oakley, State Farm, Adidas, and Procter and Gamble, Mahomes additionally has native endorsements with Kansas City companies similar to CommunityAmerica Credit Union and the non-public jet firm Airshare, a deal Mahomes secured in 2018.
“His value as an endorser has gone up significantly in the last two years,” stated Scott Rosner, the tutorial director of the sports activities administration program at Columbia University. “Not only has his value gone up, but he has the ability to position himself in a number of different ways from a branding perspective.”