Who is Patrick Mahomes, the highest-paid athlete in the world?

Patrick Mahomes
The 24-year-olds new contract is said to be worth £402.9 million. Credit: AP

Patrick Mahomes, an NFL player in the US, is reportedly set to become the highest-paid athlete in the world.

The quarterback's new 10-year-contract with Super Bowl champions the Kansas City Chiefs is said to be worth up to £402.9m ($503 million).

According to the official NFL website, that makes Mahomes the first athlete with a half-billion-dollar contract as well as the first American football player to be the highest-paid athlete in the sports world.

Kansas City Chiefs quarterback Patrick Mahomes holds the Vince Lombardi trophy during a Super Bowl rally. Credit: AP

Who is Patrick Mahomes?

The 24-year-old was the youngest player to be named Super Bowl most valuable player (MVP) when he led the Chiefs to their first NFL championship in 50 years in February.

It was a comeback victory for the team over the San Francisco 49ers.

Chiefs chairman and CEO Clark Hunt said 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 recognised 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."

Mahomes tweeted a video with the caption "Here to stay" after making the signing.

Why the big pay cheque?

Mahomes originally entered the NFL as the 10th overall pick for the Chiefs in the first round of the 2017 NFL.

But the 24-year-old has since started 31 games in three NFL seasons with the franchise.

Kansas City Chiefs head coach Andy Reid, left, his wife Tammy Reid, center, and quarterback Patrick Mahomes celebrate after the Chiefs win. Credit: AP

It that time, he's thrown 9,412 yards - with 76 touchdowns and 18 interceptions in the regular season.

Mahomes' deal surpasses baseball's Mike Trout as the largest one in sport.

Los Angeles Angels player, Trout signed a 12-year-contract said to be worth up to £339.3 million ($426.5 million) in March 2019.