NFL quarterback Patrick Mahomes entered into a historic contract with the Kansas City Chiefs recently, with the player and Chiefs agreeing to a 10-year extension worth up to $503 million.
Super Bowl winning Mahomes led the Chiefs to victory, defeating the San Francisco 49ers, in February 2020. This new agreement has Mahomes playing for the Chiefs through 2031. Previously, Mahomes was on a five-year deal with the Chiefs that he signed in 2017.
However, it's a complicated—and lengthy—contract. Sports Illustrated host Robin Lundberg talked with sports business analyst Andrew Brandt and Joshua Briscoe of Arrowhead Report about the details of the agreement, how it will impact the team as a whole, and its salary cap.
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"The length makes it complicated. You're dealing with all these—what they call guarantee mechanisms. Which is basically saying that if Mahomes is on the roster now, he gets guaranteed next year. So there are a lot of these contingent guarantees," said Brandt.
"Unfortunately for Mahomes' sake, these aren't rock solid guarantees that you might expect for someone of his leverage," he added.
In other words, a guarantee mechanism guarantees Mahomes' salary one year out. So, if the Chiefs decide not to pick up each guarantee, they can to cut Mahomes.
Per the terms of the contract, Mahomes' guarantee is $63 million at signing, which increases to $141 million by March 2