Chiefs Eye Contract Restructure for Mahomes

The Kansas City Chiefs, whether victorious or not this Sunday, are already strategizing for another shot at the Super Bowl next season. One avenue they’re exploring is restructuring Patrick Mahomes’ monumental contract.

Back in 2020, Mahomes inked a record-breaking 10-year extension worth roughly $500 million. Despite its eye-popping figures, the deal was crafted with flexibility, featuring relatively less guaranteed money and ample room for adjustments in the future.

In September, Mahomes and the Chiefs embarked on a significant contract restructuring, which beefed up the quarterback’s guaranteed earnings while effectively shortening the overall duration of the agreement. This revision secured Mahomes a staggering $210.6 million between 2023 and 2026, setting a new benchmark in NFL history for a four-year period.

Nevertheless, the Chiefs are still aiming to reduce Mahomes’ substantial cap hit for the forthcoming season, per a report by Jonathan Jones of CBS Sports. Currently, Mahomes’ cap hit looms just shy of $60 million.

According to the report, the Chiefs could potentially slash Mahomes’ cap hit to the “low 20s” for the upcoming season through another contract restructure. Such a maneuver would unlock an estimated $37 million in cap space.

This strategic move comes as the Chiefs face significant roster gaps to address, notably in the wide receiver position. Additionally, the team must allocate funds to retain defensive stalwarts Chris Jones and L’Jarius Sneed, both set to hit free agency at season’s end. Mahomes’ involvement in this off-field roster bolstering process underscores his pivotal role in the Chiefs’ ongoing pursuit of championship success.