Super Bowl-winning quarterback Patrick Mahomes has agreed to a historic $500 million contract extension with the Kansas City Chiefs.

Steinberg Sports, the agency that represents Mahomes, announced the half-billion dollar deal on Twitter. Mahomes’ agreement is worth $503 million, with $477M in guarantee mechanisms and a no-trade clause.

Mahomes is now “the first half billion dollar player in sports history,” according to the agency.

The Chiefs confirmed they reached the blockbuster 10-year deal with their MVP in a statement on Monday, with team CEO Clark Hunt calling Mahomes “one of the most prolific athletes in all of sports.”

Kansas City Chiefs’ Patrick Mahomes celebrates with the Vince Lombardi trophy after winning the Super Bowl on Feb. 2, 2020.Mike Blake / Reuters file

“With his dynamic play and infectious personality, he is one of the most recognized 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.”

The 24-year-old Mahomes won league MVP in 2018 and led the Chiefs to a come-from-behind victory in Super Bowl LIV in February, earning Super Bowl MVP honors.

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