According to Rapoport, the two sides haven’t done much work on a new deal up to this point and it’s more likely that they would have an agreement in place after free agency.
Rapoport explains that a Mahomes extension would likely come after the NFL and the NFLPA reach an agreement on a new CBA.
Some have said Mahomes could end up being the first player to make $40 million per year as part of a long-term deal, so that will be a figure to keep an eye on.
Mahomes, 24, is a former first-round pick of the Chiefs back in 2016. The Chiefs traded first and third-round picks in 2017 to go along with another first-round pick in 2018 for the right to draft Mahomes.
Mahomes is currently in the third year of his four-year, $16.4 million contract and set to make base salaries of $645,000 and $735,000 over the final two years of the agreement.
The Chiefs have a fifth-year option they can pick up on Mahomes to ensure he’s under contract through 2021 and from there they could always franchise him if need be.
In 2019, Mahomes appeared in 14 games for the Chiefs and completed 65.9 percent of his passes for 4,031 to go along with 26 touchdowns and five interceptions. He has also rushed for 218 yards and two touchdowns.
We’ll have more regarding Mahomes as the news is available.