Chiefs restructure Patrick Mahomes’ contract to clear more salary-cap room: report
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The Kansas City Chiefs have cleared some financial room for the 2023 season.
According to ESPN’s Field Yates, KC chose to convert $12 million of quarterback Patrick Mahomes’ 2023 roster bonus into a signing bonus. In essence, Yates reported, the Chiefs opened up $9.6 million for this season.
Before the move, Mahomes’ contract this season was set to count $49.3 million against the Chiefs’ salary cap, according to OverTheCap.com. Now, that number is trimmed to $39.7 million, with KC pushing some salary burden to future years.
Following the transaction, the Chiefs have $13.6 million left in effective cap space according to OverTheCap’s estimation, though that does not yet include defensive end Charles Omenihu’s contract.
The Chiefs, if they continue shopping through free agency, could be in search of a receiver. KC lost JuJu Smith-Schuster through free agency to the New England Patriots on Wednesday, meaning they could still use a veteran option next to returning players Marquez Valdes-Scantling, Kadarius Toney and Skyy Moore.
Earlier this week, the Chiefs signed free agent offensive tackle Jawaan Taylor from Jacksonville and Omenihu from San Francisco. They also re-signed defensive lineman Tershawn Wharton.
