Patrick Mahomes and the Kansas City Chiefs have agreed to a 10-year contract extension worth at least $27.6 million. 

It also contains a $140 million injury guarantee. The deal does not contain language tied to a percentage of the salary cap.

Mahomes' new deal will run through the 2031 season. Mahomes' existing contract has two more seasons remaining with the Chiefs adding 10 more to make it a 12 year contract in total.

Mahomes was owed $2.8 million for 2020 and $24.8 million for 2021.

Ian Rapoport of NFL.com reports the extension is worth $503 million and he gets $477 million in guarantee mechanisms with the ability to opt out if the guarantee mechanisms aren't exercised. Mahomes also has a no trade clause.