The Kansas City Chiefs are capping off their season with a Super Bowl LVIII matchup against the San Francisco 49ers. As Patrick Mahomes and Andy Reid get ready for the Super Bowl, the Chiefs’ front office is already making plans for ways to improve this offseason.
Kansas City has already won a Super Bowl during its roster transition following the Tyreek Hill trade. Now, one of the best NFL dynasties is focused on surrounding its quarterback with the talent necessary to compete for the Lombardi Trophy every year. However, the 2024 offseason will make that more difficult.
- Patrick Mahomes stats: 4,183 passing yards, 27-14 TD-INT, 67.2% completion rate, 92.6 QB rating
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The Chiefs are currently just $24 million under the projected NFL salary cap for next season. With several key defensive starters, including All-Pro defensive tackle Chris Jones and top cornerback L’Jarius Sneed, poised to become free agents Kansas City needs as much cap space as possible to keep its core together.
According to Jonathan Jones of CBS Sports, the Chiefs and Mahomes’ representatives have been discussing a contract restructure for months. Once the season is over, Kansas City is officially expected to alter Mahomes’ contract to create significant cap space and reward its franchise quarterback.
The original 10-year contract extension Mahomes signed with the Chiefs is designed to be flexible. With Mahomes receiving the long-term financial security, he and Kansas City’s front office built the deal so it could be restructured in 2024 and potentially 2026, too.
Notably, per OvertheCap.com, a basic contract restructure would create $34.632 million in cap space with Mahomes’ 2024 cap hit dropping from $57.358 million. At the very least, that cap space would give the Chiefs room to use the franchise tag on Sneed.
- Patrick Mahomes contract: $57.358 million cap hit in 2024, $60.858 million cap hit in 2025, $63.264 million cap hit in 2026
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It will be difficult for the Chiefs to retain both Sneed and Jones, with the cost of that likely hovering around $50-plus million in salary commitments. However, a restructured deal for Mahomes would be a big step toward Kansas City retaining one of its defensive stars and adding more talent to the offense.
