Patrick Mahomes joins this MLB team's ownership group

Why Chiefs’ Mahomes isn’t guaranteed the full $500M

Kansas City Chiefs quarterback Patrick Mahomes was offered a $503M deal but not all payment is guaranteed. FOX Business’ Ashley Webster with more.

Patrick Mahomes became one of the youngest team owners in sports Tuesday.

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The Kansas City Royals announced that the 24-year-old Super Bowl-winning Kansas City Chiefs quarterback is joining the team’s ownership group.

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“We are very proud and excited to have Patrick as our partner in the ownership group of the franchise,” Royals chairman, CEO and principal owner John Sherman said in a statement. “Along with the rest of Kansas City, I have watched Patrick compete and become and extraordinary leader, both on and off the football field.”

Sherman added: “He’s proven himself to be one of the top professional athletes and competitors anywhere, and he’s built a championship culture. He loves football, but he also grew up loving the game of baseball. We look forward to many years of a winning partnership.”

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Mahomes’ father, Pat, played several years in the majors. The quarterback was around his father growing up and was seen at some ballparks playing around while his father warmed up. The younger Mahomes played both sports at Texas Tech and was drafted by the Detriot Tigers in the 2014 draft but did not sign.

“I’m honored to become a part owner of the Kansas City Royals,” Mahomes said. “I love this city and the people of this great town. This opportunity allows me to deepen my roots in this community, which is something I’m excited to do.”

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Mahomes recently signed a mega-contract extension with the Chiefs.

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