The Chiefs and quarterback Patrick Mahomes have reached agreement on a 10-year contract extension worth over $400 million that ties him to Kansas City through the 2031 season, league sources tell ESPN's Adam Schefter.
The Chiefs picked up Mahomes' fifth-year option for the 2021 season in April, putting him under contract for the next two seasons. Mahomes had two years and $27.6 million left on his existing deal -- $2.8 million this year, $24.8 million in 2021. The 10-year extension puts him under contract with the Chiefs for the next 12 seasons.
With a payout of at least $427.6 million over the next 12 seasons, Mahomes will have the largest contract in American professional sports. Mike Trout had previously held that distinction when he signed a 12-year, $426.5 million contract with the Los Angeles Angels in March 2019. While Trout's contract is fully guaranteed, it wasn't immediately clear how much guaranteed money was included in Mahomes' deal.
Mahomes becomes the fourth quarterback since 2011 to receive an extension before the start of his fourth season, joining Ryan Tannehill (Miami Dolphins in 2015), Carson Wentz (Philadelphia Eagles in '19) and Jared Goff (Los Angeles Rams in '19).
The Chiefs had said they intended to sign their franchise quarterback to an extension but had previously indicated it might not happen until after this season.
Mahomes, 24, was MVP of Kansas City's 31-20 victory over the San Francisco 49ers in Super Bowl LIV, becoming the first quarterback in NFL history to win a league MVP and Super Bowl before turning 25.
Mahomes became the youngest quarterback to be named Super Bowl MVP, helping the Chiefs erase a 10-point fourth-quarter deficit by leading three touchdown drives. He finished 26-of-42 for 286 yards with three total touchdowns (two passing, one rushing), two interceptions and a 78.6 passer rating. He joined Tom Brady (Super Bowl XLIX) and Terry Bradshaw (XIV) as the only players to win Super Bowl MVP despite throwing multiple interceptions.
Mahomes was named the NFL's MVP after the 2018 season, when he led the NFL with 50 touchdown passes and threw for 5,097 yards in his first full season as a starter.
The Chiefs traded up in the 2017 draft to select Mahomes with the 10th overall pick. He sat out for most of his rookie season behind starter Alex Smith, only starting in the season finale when the Chiefs rested their starters.
The Chiefs traded Smith to the Washington Redskins before the following season, making Mahomes the starter.
Overall, Mahomes has thrown for 9,412 yards with 76 touchdowns and 18 interceptions in 31 regular-season games. In five playoff games, he has thrown for 1,474 yards with 13 touchdowns and two interceptions.
On May 1, Soulja Boy tweeted that he had just locked down a $400 million deal. "$400 million deal confirmed. I still they think they low balled me though. I was thinking 2 or 3 billion," he wrote.
A company worth just over$52 millioncouldn't possibly afford to cut a $400 million endorsement deal.
Company spokespersonMatthew Birdexplained to Forbesthat the deal includes both stock and revenue-sharing.
“He really kind of jumped the gun” by using the $400 million figure, Bird says. “The deal is capped at $400 million, and it’s based on a forward-thinking valuation of the company. He’s young, he’s 25 years old. He got really excited, and he tweeted something he probably shouldn’t have tweeted. He was getting a lot of pressure from within the entertainment community, so he wanted to put a statement out. Obviously, the company’s market cap is at $51.8 million. There’s no way they could cut a $400 million deal. Endorsement deals are calculated on a lot of different factors. This is not a fully cash transaction.”
Based on all of the information above, Charlamagne Tha God, gave SB the "Donkey of the Day" for Monday, May 23.
Apparently big things are popping for Soulja Boy. The 25-year old SODMG boss, real name DeAndre Way, announced that he has inked a $400 million deal, although very few details are known at this point.
The news came via the rapper's social media accounts on Sunday, May 1.
"$400 million deal confirmed. I still they think they low balled me though. I was thinking 2 or 3 billion," he wrote on his Twitter account.
"From being worth 25 million at 25 to being offered 400million and closing out the deal? Just think about where I came from no man seriously!" Soulja captioned an Instagram photo.
The only hint given was a shout out to Beyonce.
"One thing I can say though is shoutout to Beyonce the queen for sure," the "Crank That" rapper wrote.
We'll update the story as more details become available. In the meantime check out the tweets below.
$400 million deal confirmed. I still they think they low balled me though. I was thinking 2 or 3 billion..
(AP) UFC fans, rejoice. Conor McGregor is not retired.
He's even willing to resume his spot in the main event at UFC 200.
The mixed martial arts superstar is simply fed up with the grueling promotional demands that come with being a pay-per-view star. The 27-year-old fighter known for his over the top personality says "I can not dance for you this time."
McGregor posted on Facebook Thursday that he needed to focus on himself and not the massive hype that accompanies his mega-fights.
"I have become lost in the game of promotion and forgot about the art of fighting," McGregor said in the nearly 650-word statement also posted to Twitter, instantly drawing thousands of shares, retweets and comments from fans.
"For USADA and for the UFC and my contract stipulations — I AM NOT RETIRED," McGregor said. McGregor, at times profane and critical of interviews he saw as pointless, said the "many distractions" led to errors in preparing for his last fight, specifically with cardio and weight.
McGregor has been training for a rematch against Nate Diaz at UFC 200 in July. He lost to Diaz in March, ending a 15-fight winning streak in which he surprised many fans by fighting 25 pounds above his usual weight of 145 pounds, where he holds a title belt. The rematch was set to be fought at 170 pounds.
McGregor stirred fans this week with a tweet saying he had decided to retire young. That prompted UFC President Dana White to respond by saying McGregor had been pulled from UFC 200 because of the dispute over promotional appearances. White said McGregor was refusing to travel to Las Vegas for promotions ahead of another UFC card this weekend.
McGregor says he's still ready to fight at UFC 200.
"I'm doing what I need for me now. It is time to be selfish with my training again. It is the only way," he said. "I feel the $400 million I have generated for the company in my last three events, all inside 8 months, is enough to get me this slight leeway."
McGregor said UFC denied a request for a decreased promotional push and he wrote he would still be willing to attend a scheduled press conference in New York.
"I did not shut down all media requests. I simply wanted a slight adjustment," he said.
UFC said President Dana White would not comment until a scheduled press conference Friday in Las Vegas.
McGregor's coach, John Kavanagh, tweeted Thursday his fighter "rose again."
"Ur call now. You are the customers. What do you want? Press conferences or fights? Make some noise because we're ready to do the damn thing!" he tweeted.
White said this week he was working on a new UFC 200 main event and could keep Diaz on the card. The stacked card already included an interim featherweight championship bout between Jose Aldo and Frankie Edgar and Miesha Tate defends her bantamweight title against Amanda Nunes.
McGregor, who sits alongside Ronda Rousey as the UFC's biggest pay-per-view stars, is still the featherweight champion. Aldo and Edgar will meet for the interim belt and the winner was scheduled to get the first shot at a unification fight against McGregor.
McGregor added to his aura when he knocked out Aldo in 13 seconds at UFC 194 in December.
He now seems primed to return to the cage where he can talk trash to his rivals, not about the fight in front of scores of microphones.
"It is time for the other monkeys to dance," McGregor said. "I've danced us all the way here. Nate's little mush head looks good up on that stage these days. Stuff him in front of the camera for it."
UFC fighter Eddie Alvarez wrote on Twitter that McGregor had "good insight on how an empire rises and then falls."
Alvarez said McGregor's stand sets a precedent for future stars if UFC caves to his demands.
If UFC folds then it's sets a precedent for future stars to do the same , short term gain $$$ Long term disaster .. Let's see what happens
I have become lost in the game of promotion and forgot about the art of fighting. There comes a time when you need to stop handing out flyers and get back to the damn shop.
50 world tours, 200 press conferences, 1 million interviews, 2 million photo shoots, and at the end of it all I'm left looking down the barrel of a lens, staring defeat in the face, thinking of nothing but my incorrect fight preparation. And the many distractions that led to this.
Nothing else was going through my mind.
It is time to go back and live the life that got me this life.
Sitting in a car on the way to some dump in Conneticut or somewhere, to speak to Tim and Suzie on the nobody gives a fuck morning show did not get me this life. Talking to some lady that deep down doesn't give a fuck about what I'm doing, but just wants some sound bites so she can maybe get her little tight ass a nice raise, and I'm cool with that too, I've been giving you all raises. But I need to focus on me now.
I'm coming for my revenge here.
I flew an entire team to Portugal and to Iceland to make my adjustments in preparation and fix my errors I made with the weight and the cardio prep. With the right adjustments and the right focus, I will finish what I started in that last fight.
I will not do this if I am back on the road handing out flyers again.
I will always play the game and play it better than anybody, but just for this one, where I am coming off a loss, I asked for some leeway where I can just train and focus. I did not shut down all media requests. I simply wanted a slight adjustment. But it was denied.
There had been 10 million dollars allocated for the promotion of this event is what they told me.
So as a gesture of good will, I went and not only saved that 10 million dollars in promotion money, I then went and tripled it for them.
And all with one tweet.
Keep that 10 mill to promote the other bums that need it. My shows are good. I must isolate myself now.
I am facing a taller, longer and heavier man. I need to prepare correctly this time. I can not dance for you this time.
It is time for the other monkeys to dance. I've danced us all the way here. Nate's little mush head looks good up on that stage these days. Stuff him in front of the camera for it.
He came in with no shit to do that last one. I'd already done press conferences, interviews and shot the ads before RDA pulled out.
Maybe I'll hit Cabo this time and skull some shots pre-fight with no obligation. I'm doing what I need for me now.
It is time to be selfish with my training again. It is the only way.
I feel the $400million I have generated for the company in my last three events, all inside 8 months, is enough to get me this slight leeway.
I am still ready to go for UFC 200.
I will offer, like I already did, to fly to New York for the big press conference that was scheduled, and then I will go back into training. With no distractions.
If this is not enough or they feel I have not deserved to sit this promotion run out this one time, well then I don't know what to say.
For the record also - For USADA and for the UFC and my contract stipulations - I AM NOT RETIRED.
On February 10, 1992 Mike Tyson was sentenced to six years in prison for allegedly raping 18-year-old Miss Black Rhode Island, Desiree Washington, during the Miss Black America Beauty pageant in Indianapolis on July 19, 1991.
Fast forward to 2013 and Tyson vividly recalls his time being locked up. He served three of the six year sentence.
Iron Mike sat down with CNN's A.J. Hammer to talk about his experience behind bars.
"I was living the life of luxury in prison too, just not the same as I was outside," Tyson said of his life inside. "I had food, I was able to get what I wanted. I had girlfriends, it's just not like your freedom."
The boxing champion became so institutionalized that by the time he was released in March 1995 he didn't think he would be able to cope in the outside world.
"After I left prison I have to admit I was scared," Mike admitted during his One Man Show. "You ain't gonna believe this sh*t. I had $380 million to $400 million in my bank account. And not a clue how I was gonna survive the next 400 seconds."
Mike has since gotten his life together and is doing very well. Check out the interview below.
Bad bounces for the NBA: With league claiming losses & players crying foul, lockout looms
In seven seasons in the NBA, LeBron James has done everything you could ask of a player who came in directly from the high school ranks. He's taken the once down-trodden Cleveland Cavalier franchise to its first NBA Finals, played in six All-Star Games, won a regular-season MVP award, is favored to win his second-straight MVP and has led his team to the best record in the NBA for the second straight season
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If he only had the Midas touch when it came to making his team money, James would be even better than advertised.
Despite all that James has done to turn Cleveland into a winner, the Cavaliers have been losing upwards of $20 million per season over the last two seasons, and are projected to lose anywhere from $10-$15 million this season, according to league sources with knowledge of the team's finances.
Not that the Cavs are alone. They're one of many of the 30 NBA teams expected to lose millions — and supply the league's owners with what they see as an iron-clad case for changing the current economic model when the labor agreement expires after next season.
Owners don't believe their losses are merely a direct result of the lousy economy, which can be partly to blame for the league's 2% decline in ticket sales. For the men who sign the players' paychecks, the very system under which they operate is obsolete, only five years after they signed their last collective bargaining agreement and guaranteed players 57% of basketball related income (BRI).
"We need to make significant changes to deal with very substantial losses that amount to hundreds of millions of dollars," NBA commissioner David Stern said, at the All-Star Game in Dallas in February. "It's fair to say that the current business activities do not support the current expense structure that we have."
Empty Seats At Nets vs Knicks Game
Stern projects losses upwards of $400 million for this season alone — about double the annual losses for the first four years of the deal. And he predicted Friday that they would still be close to that. That's why he and his owners want to drop the players' salaries to around 45% of the BRI.
The $400M loss projection has come under fire from the players, and, to a lesser extent, from the Players Association, who see it as a negotiating ploy and don't want to antagonize their partners, at this point. When the players present a counter-offer in the near future, they are expected to provide their own bottom-line figure and continue to demand that the current system merely be tweaked. The union contends that aside from the problems with the economy, teams need to be smarter when it comes to spending money on coaches and front office personnel.
Players are in a tricky spot, knowing they can't protest too loudly.
"The last work stoppage was in '98 and certainly the economy was a lot better at that time, and there were some players who said some things that were insensitive," said Phoenix's veteran forward, Grant Hill. "You don't want to alienate and disrespect the public and the customers who support us. So it's a tough situation. Obviously, there's posturing that occurs in negotiations, but both sides have to be careful."
On this hot-button issue, owners and team executives are not as free to speak as players, risking a hefty fine from the league. Not surprisingly, they have taken the league's position that players need to make the ultimate sacrifice. One ownership source said privately that four teams — Memphis, New Orleans, Charlotte, and Minnesota — went into this current season with their owners digging into their own personal fortunes to keep their teams afloat. Additionally, Atlanta, Detroit, Miami, Orlando, Oklahoma City, Indiana, New Jersey, Milwaukee and Philadelphia were among the teams said to be losing "tons'' of money this season.
While the defending champion Lakers do the best on and off the court — with their tremendous revenue streams in big-market L.A., they made around $51 million last season, according to Forbes — the Cavs' payroll of $85 million is the main reason for their losses, sources say. Looking to keep James happy and to get his signature on a new long-term deal this summer, Cavs owner Dan Gilbert has done everything possible toward that end by constantly adding high-priced players, including this season's additions, Shaquille O'Neal ($20 million) and Antawn Jamison ($11.6 million). Gilbert will have to pay about $15 million in luxury tax, bringing his bill for salaries to around $100 million. So, despite the Cavs playing to sellout crowds during most of the James era, and getting top dollar from other revenue streams, including concessions and parking, having James on the team has been a losing proposition, at least when it comes to the team's finances.
Yet, despite the record losses around his league, Stern has rarely taken flak, or for soft-peddling the crisis when he says things like, "It's a good time to be commissioner in the NBA," a line he delivered in Dallas before telling the media how dismal things are.
"When David talks about how great things are, he's not talking about the teams' profitability," says one high-ranking league executive who requested anonymity. "He's talking more along the lines of how the game is going for us, internationally. He's not talking about, 'hey, our teams are printing money.' You have not heard him say that.
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