Chiefs’ Patrick Mahomes restructures contract, creates over $20M in cap space before start of 2024 league year

Mahomes is doing his part to help K.C. make history, and have money to spend in free agency

Patrick Mahomes is serious about becoming the first NFL quarterback to three-peat. The Kansas City Chiefs’ superstar signal-caller has agreed to a restructured contract prior to the official start of free agency that will create over $20 million in cap space, as confirmed by CBS Sports lead NFL insider Jonathan Jones.

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Kansas City virtually had no cap space prior to Mahomes’ reworked deal. This move obviously gives the Chiefs some flexibility to add more pieces to the puzzle during free agency after having already re-signed defensive tackle Chris Jones and linebacker Drue Tranquill. Kansas City also signed punter Matt Araiza shortly following its win over the 49ers in Super Bowl LVIII.

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Along with those moves, the Chiefs also placed the non-exclusive franchise tag on cornerback L’Jarius Sneed, but both sides are open to a possible trade if they can’t come to terms on a long-term deal, according to ESPN.

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While they don’t have a ton of needs, the added cap space gives the Chiefs the ability to add some pieces to their team, whether now or sometime down the road. Receiver, running back, strong side linebacker and interior offensive line are among the areas the Chiefs will likely address over the coming months.

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Mahomes is trying to add to his legacy by becoming the first quarterback to win three straight Super Bowls. Mahomes, who is in the middle of his 10-year, $450 million deal, is already in the history books as one of just three quarterbacks in league history with multiple league and Super Bowl MVP awards.

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