Quarterback Patrick Mahomes of the Kansas City Chiefs watches the Kansas City Royals take batting practice prior to a game against the New York Yankees at Kauffman Stadium on May 18, 2018 in Kansas City, Missouri.
CNN  — 

Fresh off his record-setting NFL contract, Kansas City Chiefs quarterback Patrick Mahomes is already putting his newfound wealth to use.

Mahomes has become the newest part owner of MLB’s Kansas City Royals, according to a statement from the Royals.

“I’m honored to become a part owner of the Kansas City Royals,” Mahomes said in a statement. “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.”

Earlier this month, Mahomes signed a 10-year extension with the Chiefs that brought the value of his 12-year contact to as much as $503 million. The new deal was touted as “the largest contract in sports history.” The megadeal came after Mahomes won the Super Bowl MVP Award for the Chiefs last season and was named NFL MVP for the 2018 season.

Mahomes is no stranger to the sport.

He played at Texas Tech for one season in 2015 as a relief pitcher before quitting to focus on football, and he was drafted by the Detroit Tigers in the 2014 MLB June Amateur Draft, according to Baseball Reference. His father, Pat Mahomes, was also a MLB pitcher for 11 seasons.

Mahomes joins a list of superstar athletes that have stakes in teams from other sports.

LeBron James is a part owner of soccer powerhouse Liverpool F.C., Russell Wilson is a part owner of the Seattle Sounders F.C., and Serena and Venus Williams are part owners of the Miami Dolphins.

CNN’s Kevin Dotson contributed to this story.