This could be Patrick Mahomes' greatest touchdown yet.

The 2020 Super Bowl MVP has signed a 10-year contract extension with the NFL's Kansas City Chiefs, keeping him with the team through the 2031 season. But it's not the length of time that's catching the attention of sports fans. Rather, it's the price tag. The deal is reportedly worth $450 million, according to ESPN. Combined with incentives and championship bonuses, the 24-year-old quarterback has the potential to earn $503 million over the decade, making the contract the most lucrative in sports history.

Following the news, Mahomes took to social media to celebrate the victory. As he tweeted to his 1.2 million followers, "Here to stay...!"

Naturally, his team, friends and family are equally excited about the momentous win. "This is a significant moment for our franchise and for the Chiefs Kingdom," Chiefs Chairman and CEO Clark Hunt later praised in a statement. "Since he joined the Chiefs just a few years ago, Patrick has developed into one of the most prolific athletes in all of sports. With his dynamic play and infectious personality, he is one of the most recognized and beloved figures to put on the Chiefs uniform. He's an extraordinary leader and a credit to the Kansas City community, and I'm delighted that he will be a member of the Chiefs for many years to come."

More news in nfl

Andy Reid retiring before Patrick Mahomes' contract is up? Chiefs coach says not so fast

Andy Reid retiring before Patrick Mahomes' contract is up? Chiefs coach says not so fast

Patrick Mahomes' record-setting contract extension will keep him in Kansas City through the 2031 season. And while Mahomes' future with the Chiefs is all but secured, the same can't be said of coach Andy Reid, who has only two years remaining on his current contract. ...

Record: NFL star Patrick Mahomes signed for 10 years and will be the highest paid athlete in the world

Record: NFL star Patrick Mahomes signed for 10 years and will be the highest paid athlete in the world

NFL player Patrick Mahomes became the best payoff in the world (REUTERS / Mike Blake) A few months ago, the name of Patrick Mahomes went viral thanks to the fact that he became the first quarterback to be chosen as the most valuable player and ...

Check Out The Team You Could Field With Patrick Mahomes’ Average Salary

Check Out The Team You Could Field With Patrick Mahomes’ Average Salary

From any perspective, Patrick Mahomes' contract extension is just plain ridiculous. The Kansas City Chiefs on Monday signed their star quarterback to 10-year, record-breaking contract extension. The deal, which kicks in in 2022 and will pay Mahomes an average annual salary of $45 million, is worth ...

How Much Will Patrick Mahomes Actually Make from his $503 Million Contract?

How Much Will Patrick Mahomes Actually Make from his $503 Million Contract?

Kansas City Chiefs quarterback Patrick Mahomes signed a massive 10-year, $503 million contract extension on Monday, but how much of that money will he actually receive from the Chiefs? While $140 million is fully guaranteed for injury and $106 million will be fully guaranteed by ...