Kelce will also receive $28 million in guarantees on the new deal.
Jeremy Fowler reports the deal will add four years to Kelce’s current contract. Kelce was already under contract with the team through the 2021 season.
This comes just after news broke that the 49ers signed TE George Kittle to a new deal averaging $15 million per season that dramatically shifted the tight end market and provided a marker for Kansas City’s talks with Kelce.
Kelce, 30, is a former third-round pick of the Chiefs out of Cincinnati back in 2013. He was entering the final year of his four-year, $3.126 million rookie contract and set to make a base salary of $675,000 for the 2016 season when he signed a six-year, $46.8 million contract extension.
Kelce is set to make base salaries of $7.25 million and $7.5 million the next two seasons.
In 2019, Kelce appeared in all 16 games for the Chiefs and recorded 97 receptions for 1,229 yards receiving and five touchdowns. He also rushed for a four-yard touchdown. Pro Football Focus has him rated as the No. 3 tight end out of 67 qualifying players.
We’ll have more on Kelce as the news is available.