Chiefs Reworked Patrick Mahomes’ Contract To Create A Massive Amount of Cap Space

Both of the QB’s from this past February’s Super Bowl have now both helped their team by reworking their contracts.

Adam Schefter of ESPN reported that the Chiefs are expected to restructure QB Patrick Mahomes‘ contract and convert his $21.7 million roster bonus into a signing bonus.

It is going to result in the Chiefs gaining around $17 million in cap space to use this offseason.

Tom Brady isn’t the only QB providing cap relief to his team; Patrick Mahomes is expected to do the same. Chiefs are expected to convert Mahomes’ $21.7 million roster bonus to a signing bonus in the coming days, which would save KC $17 million against the cap, per league sources.

— Adam Schefter (@AdamSchefter) March 12, 2021

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

Mahomes signed a 10-year, $450 million contract extension with the Chiefs prior to the 2020 season.

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The Chiefs have furiously been trying to fix their cap situation which led to them releasing starting offensive tackles Eric Fisher and Mitchell Schwartz.

Once Mahomes’ restructure is official, the team will no longer be over the cap.

In 2020, Mahomes appeared in 15 games for the Chiefs and completed 66.3 percent of his passes for 4,470 yards, 38 touchdowns and six interceptions.

He led the team to its second-straight Super Bowl, but lost to the Tampa Bay Bucs.