Less than a year after signing the NFL’s most lucrative contract, Patrick Mahomes agreed to restructure it.
The MVP quarterback will restructure his deal and create $17MM in cap space for the Chiefs, Adam Schefter of ESPN.com tweets. Language in the two-time Super Bowl starter’s deal allows the Chiefs to automatically restructure it to create cap space, Tom Pelissero of NFL.com tweets.
The Chiefs will move much of Mahomes’ $21.7MM roster bonus into a prorated signing bonus. This comes a day after the team cut both Mahomes’ starting tackles. Kansas City has created around $35MM in cap space over the past two days.
Even after the releases of Mitchell Schwartz and Eric Fisher, the Chiefs were more than $4MM over the $182.5MM salary cap. Mahomes’ restructuring part of his 10-year, $450MM contract so soon will bring Kansas City under the cap, providing key ammo to go about adding new offensive linemen.
Basically will do this every year until hes 45
His grand kids will be checking quite the allowance some day
Over under they do this 8 times? I will go under because in 6-7 years they will probably extend him.
Chiefs have all the cap space now
Perhaps one day he can be the Bobby Bonilla of football.
I wrote that down but couldn’t remember the name or money. Like winning the lottery and getting money once a year for life.
Anybody else think the Chiefs will ultimately regret this contract?
No
Yes
Could be a move to go out and get an elite left tackle. Hope I’m wrong (being a 49ers fan), but I could see the Chiefs making a Trent Williams run after this restructure.