KANSAS CITY, Mo. — Kansas City Chiefs quarterback Patrick Mahomes has restructured his contract to give the team salary cap flexibility.
ESPN Senior NFL reporter Adam Schefter tweeted Friday that with the restructuring, the team will save roughly $17 million in cap space.
Patrick Mahomes pending contract restructure that will save the Chiefs about $17 million against the cap will allow KC to do some free-agent shopping.... https://t.co/py1pVGCxVm
— Adam Schefter (@AdamSchefter) March 12, 2021
Last offseason, Mahomes signed a 10-year contract worth more than $500 million. In announcing the deal, the team said the contract still allowed the team flexibility to bring in or resign other players.
When Chiefs defensive lineman Chris Jones signed his $85 million extension last offseason, Jones told reporters his deal was helped by Mahomes leaving some money on the table.
Entering this offseason, 41 Action News Chiefs insider Nick Jacobs reported the team was already over the league’s projected $180 million salary cap by more than $20 million.
This is a developing story and will be updated.
