The Kansas City Chiefs have officially exercised QB Patrick Mahomes‘ fifth-year option on Thursday for the 2021 season, according to Ian Rapoport.
This is a no-brainer for the Chiefs, who are expected to open extension talks with Mahomes at some point this year.
Reports have said that Mahomes could end up becoming the first NFL player to earn $40 million per year once his extension is completed.
The fifth-year option is guaranteed for injury only and won’t prevent them from negotiating a contract extension in the coming months. It was projected to cost them $24,837,000 for the 2021 season.
Mahomes, 24, is a former first-round pick of the Chiefs back in 2017. He is currently in the final year of a four-year, $16.4 million contract which is fully guaranteed and included a $10 million signing bonus.
In 2019, Mahomes appeared in 14 games for the Chiefs and completed 65.9 percent of his passes for 4,031 yards to go along with 26 touchdowns and five interceptions. He has also rushed for 218 yards and two touchdowns.
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