Patrick Mahomes

The Kansas City Chiefs and quarterback Patrick Mahomes have reached agreement on a 10-year contract extension that ties him to Kansas City through the 2031 season. ESPN’s Adam Schefter was first to report the news. Schefter said The agreement is expected to be worth more than $400 million, which would make Mahomes the highest-paid player in NFL history.

The Chiefs picked up Mahomes' fifth-year option for the 2021 season in April, putting him under contract for the next two seasons. The 10-year extension puts him under contract with the Chiefs for the next 12 seasons.

The Chiefs had said they intended to sign their franchise quarterback to an extension but had previously indicated it might not happen until after this season.

Mahomes, 24, was named Super Bowl MVP after Kansas City's 31-20 victory over the San Francisco 49ers in Super Bowl LIV, becoming the first quarterback in NFL history to win a league MVP and Super Bowl before turning 25.

Information from ESPN.com contributed to this report.

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