Patrick Mahomes is set to restructure his contract to help the Chiefs create an additional $21.6 million in cap space. ESPN’s Adam Schefter reports. on tuesday.
This decision was made in hopes of putting the team in a better position to become the first NFL team to win three consecutive Super Bowls.
Mahomes was scheduled to carry a $58.6 million cap hit this season. According to Spotrac: But the site currently lists it at about $37 million in 2024.
It is also estimated to reach $66.2 million in 2025 and $68.6 million in 2026.
Mahomes signed a 10-year, $450 million contract extension in 2020 that made him the highest-paid player in the NFL at the time, but that contract has been reviewed twice in the past six months.
The two sides already worked out a deal last September that would allow the Chiefs’ star quarterback to earn $208.1 million from 2023 to 2026.
Kansas City is working with limited cap space and enters the offseason with $7,478,547 in free money.
The Chiefs used the franchise tag on cornerback Rajarius Snead, but both teams continued to work toward a long-term deal, re-signing defensive tackle Chris Jones to a five-year deal.
Kansas City also reportedly signed punter Matt Arraiza and wide receiver Marquez Valdes-Scantling.
The Chiefs are coming off a year in which they won their second straight Super Bowl despite some difficult times throughout the regular season.
Star tight end Travis Kelce has received even more attention for his relationship with music icon Taylor Swift. Taylor Swift was by her side throughout the championship game to cheer on her boyfriend.
In February 2024, the Chiefs defeated the 49ers 25-22 in the Super Bowl.
