The Kansas City Chiefs have taken out an insurance policy on the record-setting, 10-year extension signed by quarterback Patrick Mahomes in July, a source told ESPN’s Field Yates.
The move protects the Chiefs, who begin their Super Bowl title defense Thursday night against the Houston Texans, in the event that an injury prevents Mahomes from being available to play. It also has salary-cap implications, as Kansas City would receive a corresponding salary-cap credit.
Insurance policies are not overwhelmingly common in football contracts, but given the $140 million in guaranteed money that Mahomes received, both sides knew the decision would be executed prior to the start of the regular season.
The Chiefs open the NFL season tonight hosting the Houston Texans, 6:00 with the Pre-game and the kick at 7:20 on 94.5 the X.