Chiefs restructure Patrick Mahomes’ deal, create cap space

The Kansas City Chiefs restructured Patrick Mahomes’ contract this week, creating much-needed salary cap space ahead of the 2026 season, according to ESPN and multiple reports.

The restructuring, first reported Wednesday by Over the Cap, converts $54.45 million of Mahomes’ 2026 salary into a signing bonus and lowers the star quarterback’s cap number to $34.65 million.

The Chiefs, who missed the playoffs in 2025 after reaching the Super Bowl in each of the three previous seasons, created $43.65 million in cap space. It marks the fourth consecutive year that Kansas City has restructured Mahomes’ contract.

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The Chiefs entered the offseason more than $57 million over the cap and still will need to make some financial maneuvers after reworking Mahomes’ deal. Mahomes, who is recovering from knee surgery, initially was set to count for $78.2 million against the cap in 2026.

Under the terms of the restructured deal, Mahomes now will count for an additional $11 million against Kansas City’s cap each of the next four seasons, bringing his total cap number to $85 million for 2027, according to Over the Cap. The three-time Super Bowl MVP is a potential candidate for a contract extension before 2028, when his salary and cap number both drop significantly.

For now, however, the cap savings are vital to the Chiefs, who are coming off their first losing season in over a decade and face decisions on multiple high-priced veteran players. Kansas City needs to be under the NFL’s salary cap when the new league year starts March 11.

Star defensive lineman Chris Jones, who is set to count for nearly $45 million against the cap, is another candidate for a restructured deal. The Chiefs could potentially cut offensive lineman Jawaan Taylor, who has one year remaining on his four-year, $80 million deal. Other veteran players who are candidates to be released include Mike Danna, Drue Tranquill and Noah Gray.

Mahomes initially signed his 10-year, $450 million deal with the Chiefs in 2020, and it was the richest contract in North American team sports history at the time. The two-time league MVP had surgery in mid-December to repair two torn ligaments in his left knee and said last month that he wants to play in the Chiefs’ 2026 season opener.