Patrick Mahomes signs mind-boggling contract worth up to $503 million that would be the richest in sports history

• Patrick Mahomes is reportedly set to sign a massive 10-year million extension that will keep him in Kansas City through the 2031 season.
• The deal is worth up to $503 million according to ESPN's Adam Schefter, and completely upends the market for what a superstar quarterback contract can look like in the NFL.
• With Mahomes locked in place, Kansas City will set out to build off of their win in Super Bowl LIV and create a dynasty.

Patrick Mahomes is set to become the richest man in the NFL.

According to ESPN's Adam Schefter, Mahomes has agreed to a 10-year contract extension with Kansas City that will keep him with the team through the 2031 season.

As news of the deal broke, Schefter reported that it would be the "richest contract in NFL history." A few hours later, it became official — Mahomes was set to become the world's first half a billion dollar athlete.

—Adam Schefter (@AdamSchefter) July 6, 2020

The massive extension gives Mahomes the richest contract in the history of American sports, surpassing the 12-year, $426.5 million deal Mike Trout signed last year. According to Ian Rapaport of the NFL Network, it's the first time an NFL players has topped the list.

—Ian Rapoport (@RapSheet) July 6, 2020

The current top contract in the NFL is for Russell Wilson, who makes an average annual salary of $35 million on the four-year, $140 million extension he signed with the Seattle Seahawks in 2019.

Mahomes celebrated the signing with a joke on Twitter.

—Patrick Mahomes II (@PatrickMahomes) July 6, 2020

Now locked into a deal that will keep him in Kansas City for more than a decade, Mahomes, Andy Reid, and the Chiefs as a whole will look to build off of their Super Bowl LIV victory and create a dynasty to rival the dominance of the New England Patriots of the past 20 years.

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