The Kansas City Chiefs and quarterback Patrick Mahomes have reached agreement on a 10-year contract extension that ties him to Kansas City through the 2031 season, league sources tell ESPN's Adam Schefter.

The Chiefs picked up Mahomes' fifth-year option for the 2021 season in April, putting him under contract for the next two seasons. The 10-year extension puts him under contract with the Chiefs for the next 12 seasons.

The Chiefs said they intended to sign their franchise quarterback to an extension but had previously indicated it might not happen until after this season, the story said. Mahomes, 24, was named Super Bowl MVP after Kansas City's 31-20 victory over the San Francisco 49ers to become the first quarterback in NFL history to win a league MVP and Super Bowl before turning 25. Mahomes became the youngest quarterback to be named Super Bowl MVP and was the league MVP in 2018. Of course, Mahomes is also a top-tier fantasy QB, currently second in our rankings behind Lamar Jackson.