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Photo: Jamie Squire/Getty Images

Kansas City Chiefs quarterback Patrick Mahomes signed a 10-year contract extension on Monday worth up to $503 million, ESPN reports.

Why it matters: It's the largest contract in the history of American sports and almost double the career earnings of Eli Manning, the highest-paid player by salary in NFL history.

  • "We're staying together ... for a long time. We're chasing a dynasty," Mahomes said in a video posted on Twitter.

The big picture: Mahomes' 12-year deal — a 10-year extension, plus two years on his current contract — is incredibly rare. The Dallas Cowboys' Tyron Smith is the only other NFL player with a contract lasting more than six years.

Zoom out ... Highest average annual contract value by sport, per ESPN:

  • NBA: Damian Lillard ($49m)
  • NFL: Mahomes ($45m)
  • MLB: Gerrit Cole ($36m)
  • NHL: Connor McDavid ($12.5m)

Go deeper

Kendall Baker, author of Sports
Sep 10, 2020 - Sports

Special report: The NFL is back and weirder than ever

Illustration: Aïda Amer/Axios

The Chiefs beat the 49ers in Super Bowl LIV on Feb. 2. One day later, the U.S. declared COVID-19 a public health emergency.

The big picture: A lot has happened in the 223 days since then, highlighted by Tom Brady's arrival in Tampa Bay via free agency and Joe Burrow's arrival in Cincinnati via the NFL's first-ever virtual draft. Teams aced the training camp protocols, but without any preseason games, expect to see some rust when they finally take the field for game day.

Stalemate over filibuster freezes Congress

Illustration: Sarah Grillo/Axios

Senate Majority Leader Chuck Schumer and Mitch McConnell's inability to quickly strike a deal on a power-sharing agreement in the new 50-50 Congress is slowing down everything from the confirmation of President Biden's nominees to Donald Trump's impeachment trial.

Why it matters: Whatever final stance Schumer takes on the stalemate, which largely comes down to Democrats wanting to use the legislative filibuster as leverage over Republicans, will be a signal of the level of hardball we should expect Democrats to play with Republicans in the new Senate.

Dave Lawler, author of World
2 hours ago - World

Biden opts for five-year extension of New START nuclear treaty with Russia

Putin at a military parade. Photo: Valya Egorshin/NurPhoto via Getty

President Biden will seek a five-year extension of the New START nuclear arms control pact with Russia before it expires on Feb. 5, senior officials told the Washington Post.

Why it matters: The 2010 treaty is the last remaining constraint on the arsenals of the world's two nuclear superpowers, limiting the number of deployed nuclear warheads and the bombers, missiles and submarines which can deliver them.

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