Kansas City Chiefs quarterback Patrick Mahomes speaks at a news conference after an an NFL football game, Sunday, Sept. 17, 2023, in Jacksonville, Fla. (AP Photo/Phelan M. Ebenhack)
KANSAS CITY, Mo. (AP) — The Kansas City Chiefs have restructured quarterback Patrick Mahomes’ contract, a person familiar with the decision told The Associated Press on Wednesday, giving the Super Bowl champions some much-needed salary cap space.
The person spoke to the AP on condition of anonymity because the financial details were not public.
By restructuring the contract, which would have counted more than $58 million against the cap for the upcoming season, the Chiefs created more than $21 million to use elsewhere. That could include a much-publicized pursuit of help at wide receiver, their need for a new left tackle to protect Mahomes’ blind side, or in re-signing their own free agents.
Mahomes also adjusted his 10-year, $450 million contract in 2021 to help the Chiefs with their financial situation.
The Chiefs already signed All-Pro defensive tackle Chris Jones to a five-year, $158.75 million contract, which included $95 million guaranteed over the first three years. But that deal was structured so that it only cost $7.35 million against the cap this year.
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Backup linebacker Drue Tranquill also signed a three-year, $19 million deal to return before Wednesday’s official start to free agency, and defensive tackle Mike Pennel returned to the Chiefs on a one-year deal after playing well in their Super Bowl win.
