Watch Now: Chiefs, Patrick Mahomes Agree On 10-Year Contract Extension Worth Up To $503 Million (3:00)

The Kansas City Chiefs didn't just lock up their franchise quarterback by reportedly extending Patrick Mahomes on a 10-year deal Monday. They also guaranteed that the reigning Super Bowl MVP will reportedly be the NFL's newest highest-paid player -- and the richest in league history, not to mention the standard-bearer for modern-day QB salaries.

According to ESPN's Adam Schefter, Mahomes' deal is worth up to $503 million. It includes $477 in guarantee mechanisms and the ability for Mahomes to have outs if guarantee mechanisms aren't exercised, and it will keep the MVP in K.C. through 2031, blowing every previous record out of the water in terms of total contract value. Consider that the previously highest-paid player in terms of total value, the Atlanta Falcons' Matt Ryan, signed for half as many years as Mahomes when he landed his $150 million extension in 2019.

With Mahomes locked up -- and loaded with cash -- here's an updated look at the top 10 biggest contracts in NFL history:

PlayerTeam
Contract LengthTotal ValueYear Signed

QB Patrick Mahomes

Chiefs

10 years

$477M (reported)

2020

QB Matt Ryan

Falcons

5 years

$150M

2019

OLB Khalil Mack

Bears

6 years

$141M

2018

QB Russell Wilson

Seahawks

4 years

$140M

2019

QB Andrew Luck

Colts

6 years

$139M

2016

QB Jimmy Garoppolo

49ers

5 years

$137.5M

2017

DT Aaron Donald

Rams

6 years

$135M

2018

QB Matthew Stafford

Lions

5 years

$135M

2018

QB Jared Goff

Rams

4 years

$134M

2019

QB Aaron Rodgers

Packers

4 years

$134M

2018

Much like the list of today's highest-paid QBs, this group is chock-full of recent earners. Eight of the top 10 biggest deals in NFL history have come in the last three seasons -- a true sign that rising salary caps do make a difference in terms of resetting the market.