Chiefs Restructure Patrick Mahomes Contract, Create $43.56M in Cap Space

Kansas City made its first major salary-cap adjustment of the offseason by reworking Patrick Mahomes’ contract. NFL Network Insider Tom Pelissero reported Wednesday that the Chiefs converted $44.05 million of Mahomes’ 2026 base salary and a $10.4 million roster bonus into a fully guaranteed bonus structure, creating $43.56 million in cap relief. Over The Cap’s Jason Fitzgerald first reported the cap maneuver.

The move drops Mahomes’ 2026 cap charge from $78.214 million to roughly $34.65 million. The downside is in future seasons, with just under $11 million added to each remaining year of the contract. His 2027 cap number now sits at $85.25 million.

Kansas City has used similar accounting moves in recent years to keep Mahomes’ compensation in line with the top of the quarterback market while maintaining short-term flexibility. With the 2027 figure now even higher, a larger contract redo appears to be getting closer.

Mahomes signed a 10-year, $450 million extension in July 2020, and the structure was designed to allow this kind of cap management over time.

Even after this restructure, the Chiefs are still projected to be about $11 million over the cap after previously sitting more than $50 million above the line. More contract work is expected before the new league year begins on March 11.

Additional restructures could follow, with Chris Jones viewed as a likely candidate. Kansas City could also create room through veteran cuts, with possible savings tied to Jawaan Taylor ($19.5 million), Michael Danna ($8.8 million), and Drue Tranquill ($5.8 million).

The Mahomes adjustment is a major first move, but it does not finish the job. The front office still needs more space to reach compliance and build enough flexibility for offseason additions.