Missouri’s Kansas City According to a person familiar with the decision, the Kansas City Chiefs restructured quarterback Patrick Mahomes’ deal on Wednesday, providing the Super Bowl champions with some much-needed salary cap flexibility.
Due to the confidentiality of the financial information, the source talked to the AP under condition of anonymity.
The Chiefs were able to free up over $21 million by renegotiating the contract, which would have added more than $58 million to the cap for the following season. This can involve re-signing their own free agents, seeking assistance at wide receiver—something that has received a lot of attention—or searching for a new left tackle to cover quarterback Patrick Mahomes.
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In 2021, Mahomes modified his $450 million, 10-year contract in order to assist the Chiefs financially.
Chris Jones, an All-Pro defensive tackle, has already signed a five-year, $158.75 million contract with the Chiefs, with $95 million guaranteed for the first three years of the deal. However, the arrangement was made such that it only amounted to $7.35 million this year, exceeding the maximum.
Prior to Wednesday’s opening of free agency, backup linebacker Drue Tranquill also inked a three-year, $19 million contract.
A further benefit of the added salary cap room could be the possibility of L’Jarius Sneed staying in Kansas City. Sneed quietly became one of the NFL’s top cornerbacks the previous season. Although many anticipated that the Chiefs would eventually move Sneed in exchange for salary cap relief and draft compensation, they applied the franchise tag to him, which would have resulted in a one-year contract worth $19.8 million.
Now that they have more wiggle room, the Chiefs could sign him to a long-term contract or keep him at the tag figure.
