Patrick Mahomes
Patrick Mahomes #15 of the Kansas City Chiefs looks on prior to the AFC Championship Game against the New England Patriots at Arrowhead Stadium in Kansas City, Missouri, Jan. 20, 2019. Jamie Squire/Getty Images

Patrick Mahomes and the Kansas City Chiefs may have lost to the New England Patriots in the AFC Conference game on Sunday and lost a chance to make the Super Bowl for the first time since 1970, but that does not take away anything from the achievements of the 23-year-old during the 2018-19 season.

The second-year starting quarterback for the Chiefs had a stellar campaign leading his team to the AFC championships, a game in which they were in with a chance to win until overtime when Tom Brady stepped up and made their coin toss win count by leading a game-winning drive.

Mahomes became only the second quarterback in NFL history to record 5000+ passing yards and 50 touchdown passes in a season and is favorite to be crowned the regular season MVP ahead of New Orleans Saints’ Drew Brees. He is certainly the brightest star in American football at the moment and according to ESPN, the Chiefs are ready to reward him with a new deal to match his status.

The highly rated signal caller will be eligible to sign an extension with the Chiefs in 2019 and the report claims he could be handed a new deal worth around $200 million, which will be a first in NFL history.

Matt Ryan currently holds the record after signing a five-year $150 million deal with the Atlanta Falcons in May last year, but when it comes to annual average salary it is Aaron Rodgers who leads the way. The Green Bay Packers quarterback signed a four-year $134 million deal last August making him the highest paid in the league with a salary of $33.5 million per season.

The ball is in the Chiefs’ court as they can decide when to offer their star quarterback his new deal. Despite Mahomes becoming eligible for a new deal in 2020, the franchise can keep on his rookie deal until 2021 by exercising their fifth-year option, but his value to the team could see them act sooner rather than later and the deal is certainly expected to break the bank.

Meanwhile, another player on the Chiefs roster who becomes eligible for a new deal is Tyreek Hill. The receiver was a fifth-round pick in 2016 that makes him eligible for an extension after three seasons which he completed when they lost to the Patriots on Sunday.

According to CBS Sports, Hill could become one of the highest paid receivers in the NFL going into the 2019 season, especially after the phenomenal campaign he had with the Chiefs. He finished fourth in both receiving yards (1,479) and receiving touchdowns (12) and it is claimed that the Chiefs could fork out around $16 million to $18 million per year to tie him down to a new deal.