Troyofoc 361 Posted July 6, 2020 Share Posted July 6, 2020 Adam Schefter @AdamSchefter Chiefs and QB Patrick Mahomes have reached agreement on a 10-year -- 10-year! -- contract extension that ties him to Kansas City through the 2031 season, league sources tell ESPN. 11:54 AM · Jul 6, 2020·Twitter Web App Link to comment Share on other sites More sharing options...
Balto 723 Posted July 6, 2020 Share Posted July 6, 2020 Wooooooot 10 more SBs Link to comment Share on other sites More sharing options...
Chiefmanzada 466 Posted July 6, 2020 Share Posted July 6, 2020 Ye ye! Link to comment Share on other sites More sharing options...
kkuenn 3,597 Posted July 6, 2020 Share Posted July 6, 2020 Just about to post this too. I wonder what the cost was? Link to comment Share on other sites More sharing options...
gochiefsgo 380 Posted July 6, 2020 Share Posted July 6, 2020 It looks like 400 mil over 10 years? Whoa Link to comment Share on other sites More sharing options...
Balto 723 Posted July 6, 2020 Share Posted July 6, 2020 What ya think? $400M, $450M or $500M Link to comment Share on other sites More sharing options...
Balto 723 Posted July 6, 2020 Share Posted July 6, 2020 Just now, gochiefsgo said: It looks like 400 mil over 10 years? Whoa That’s it? Great deal Link to comment Share on other sites More sharing options...
gochiefsgo 380 Posted July 6, 2020 Share Posted July 6, 2020 Just now, Balto said: That’s it? Great deal Yeah not sure about those numbers yet Link to comment Share on other sites More sharing options...
sith13 1,746 Posted July 6, 2020 Share Posted July 6, 2020 3 minutes ago, gochiefsgo said: It looks like 400 mil over 10 years? Whoa Even if it's all guaranteed upon signing that's still an extremely team-friendly deal. Not sure if they are realistic. Link to comment Share on other sites More sharing options...
gochiefsgo 380 Posted July 6, 2020 Share Posted July 6, 2020 1 minute ago, sith13 said: Even if it's all guaranteed upon signing that's still an extremely team-friendly deal. Not sure if they are realistic. Well if that’s the deal it’s a steal Link to comment Share on other sites More sharing options...
Balto 723 Posted July 6, 2020 Share Posted July 6, 2020 I’d be 100% on board for a 10 year $400M with 100% guaranteed contract. Can only spread signing bonus out like 6 years right? Link to comment Share on other sites More sharing options...
Balto 723 Posted July 6, 2020 Share Posted July 6, 2020 Adam Schefter @AdamSchefter · 6m Patrick Mahomes had two years remaining on his contract, and he and the Chiefs are adding on 10 more, making it a a new 12-year contract in total Link to comment Share on other sites More sharing options...
Balto 723 Posted July 6, 2020 Share Posted July 6, 2020 So really a 12 year deal! Nice Link to comment Share on other sites More sharing options...
TAMBAAAA 21 Posted July 6, 2020 Share Posted July 6, 2020 Really hoping the crazy length is partially to compensate for the yearly amount being a little more cap manageable. That aside, fantastic news! Link to comment Share on other sites More sharing options...
Scarecrow 23 Posted July 6, 2020 Share Posted July 6, 2020 Predicting the terms: - $15M per year base salary each of the 10 years - $200M signing bonus (spread out over the 10 years) - 15% of any increase of the salary cap each year Link to comment Share on other sites More sharing options...
reesebobby 5,662 Posted July 6, 2020 Share Posted July 6, 2020 1 minute ago, Scarecrow said: Predicting the terms: - $15M per year base salary each of the 10 years - $200M signing bonus (spread out over the 10 years) - 15% of any increase of the salary cap each year Can you spread a signing bonus more than 5? Link to comment Share on other sites More sharing options...
Docbarnabee 225 Posted July 6, 2020 Share Posted July 6, 2020 Smart deal. Set him up for life and a full career as a chief. Link to comment Share on other sites More sharing options...
Scarecrow 23 Posted July 6, 2020 Share Posted July 6, 2020 1 minute ago, reesebobby said: Can you spread a signing bonus more than 5? Don't know. Has there been a contract over 5 years? Link to comment Share on other sites More sharing options...
reesebobby 5,662 Posted July 6, 2020 Share Posted July 6, 2020 I wonder what we could trade him for now that he's locked up for 10 years. oldtimer and KCSLC2008 1 1 Link to comment Share on other sites More sharing options...
kkuenn 3,597 Posted July 6, 2020 Share Posted July 6, 2020 While the player gets the lump sum up front, the team can spread the signing bonus on their cap space into smaller payments over the length of the contract up to a maximum of five years. The spread out payment of this signing bonus is called the prorated bonus.May 9, 2020 Link to comment Share on other sites More sharing options...
kkuenn 3,597 Posted July 6, 2020 Share Posted July 6, 2020 With that said. He signed an extension. So can we give him a bonus payment now and he plays at the cap hit of his last 2 years if his rookie deal? Or do we wait 2 years then his bonus hits and we spread it out then? I believe it will be the former but still this will put 7 years of a contract with the bonus already paid off. Link to comment Share on other sites More sharing options...
sith13 1,746 Posted July 6, 2020 Share Posted July 6, 2020 22 minutes ago, kkuenn said: With that said. He signed an extension. So can we give him a bonus payment now and he plays at the cap hit of his last 2 years if his rookie deal? Or do we wait 2 years then his bonus hits and we spread it out then? I believe it will be the former but still this will put 7 years of a contract with the bonus already paid off. He "must play out his rookie deal" so we don't have to give him anything for another year unless they think it helps down the line. However I'm not sure if the 5th year option counts as part of that rookie deal, I think it's simply an option that the team can pick up and players cannot refuse but don't think it goes into effect right away. Link to comment Share on other sites More sharing options...
sith13 1,746 Posted July 6, 2020 Share Posted July 6, 2020 27 minutes ago, Scarecrow said: Don't know. Has there been a contract over 5 years? There has been quite a few 6-year deals. Even we have given them to guys like Berry, Houston, Hali, etc. Link to comment Share on other sites More sharing options...
kkuenn 3,597 Posted July 6, 2020 Share Posted July 6, 2020 3 minutes ago, sith13 said: He "must play out his rookie deal" so we don't have to give him anything for another year unless they think it helps down the line. However I'm not sure if the 5th year option counts as part of that rookie deal, I think it's simply an option that the team can pick up and players cannot refuse but don't think it goes into effect right away. Well with an extension they can rework those final 2 years too. A lot of time they keep the salary low but pay off a huge signing bonus. So it depends on it was all reworked. Link to comment Share on other sites More sharing options...
sith13 1,746 Posted July 6, 2020 Share Posted July 6, 2020 Just now, kkuenn said: Well with an extension they can rework those final 2 years too. A lot of time they keep the salary low but pay off a huge signing bonus. So it depends on it was all reworked. I guess the 5th year option counts as well. Link to comment Share on other sites More sharing options...
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