The 10-year, $450 million contract Patrick Mahomes signed with the Kansas City Chiefs back in 2020 is the gift that keeps on giving for the two-time defending Super Bowl champions.
Mahomes has restructured his contract three times over the past four years. He’s doing so again in an attempt to help the Chiefs heading into the official opening of NFL free agency on Wednesday.
Per ESPN’s Adam Schefter, Mahomes has restructured his deal. The move saves Kansas City a whopping $21.6 million in cap room.
Kansas City was a mere $1.64 million under the 2024 NFL salary cap before the restructure. That takes into account the record-breaking deal defensive tackle Chris Jones signed over the weekend.
Related: 4 Kansas City Chiefs moves after re-signing Chris Jones
Patrick Mahomes’ contract restructure sets Kansas City Chiefs up well
In addition to signing Chris Jones to a five-year, $158.75 million contract ahead of NFL free agency, the Chiefs have placed the franchise tag on cornerback L’Jarius Sneed. It remains to be seen if he’ll re-sign with the team. But the star corner has been granted permission to seek a trade.
Kansas City has also been in the market for a wide receiver. The team has been linked to Curtis Samuel of the Washington Commanders, among others.
What we do know is that general manager Brett Veach has something up his sleeve after the Mahomes’ contract restructure.
The Chiefs did sign tight end Irv Smith Jr. earlier on Tuesday to provide depth behind star Travis Kelce at that position.
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