Rapoport reports the timeline for Mahomes’ extension is expected to come sometime after a new collective bargaining agreement is reached this offseason.
The deal is expected to make him the highest-paid player in NFL history and could be as much as $40 million a year.
Watson, who was taken a pick after Mahomes in the first round in 2017, will also be eligible for an extension this offseason. Rapoport says Watson is monitoring Mahomes’ negotiations and hopes to wait until after he signs his deal this spring with the goal of topping his contract.
Watson, 24, was taken in the first round of the 2017 NFL draft by the Texans. He signed a four-year, $13.854 million with the Texans and made a base salary of $862,249 for the 2019 season.
The contract also includes a fifth-year option for the Texans to pick up in 2021.
In 2019, Watson appeared in 15 games for the Texans and completed 67.3 percent of his passes for 3,852 yards with 26 touchdowns and 12 interceptions. He also rushed for 413 yards and seven touchdowns.
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 as well as the franchise tag if needed afterward.
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.