Do the Chiefs want to restructure Patrick Mahomes’ huge contract?

Win or lose on Sunday, the Kansas City Chiefs will be looking for ways to upgrade their roster for another Super Bowl run next season. Could restructuring Patrick Mahomes’ contract be the key to doing just that?

Mahomes signed a massive 10-year contract extension in 2020 that was pegged at around half a billion dollars. Despite the huge dollar figure, the deal was considered to be team-friendly with less guaranteed money and a lot of room for tinkering down the line.

Mahomes and the Chiefs had agreed to a huge contract restructuring in September that boosted the quarterback’s guaranteed money but essentially shortened the deal. The new agreement guaranteed Mahomes $210.6M from 2023-26 — the most in NFL history over a four-year span.

The Chiefs are still expected to find a way to lower Mahomes’ cap hit for the upcoming season, according to a report from Jonathan Jones of CBS Sports. Mahomes’ cap hit, as it stands, is reportedly just shy of $60M.

The report stated that the Chiefs could feasibly lower Mahomes’ cap hit to the “low 20s” next season with another contract restructure. Such a move would open up an estimated $37M in cap space.

The Chiefs have some major holes to fill, particularly at wide receiver. The team also has to shell out money to re-sign defensive cornerstones Chris Jones and L’Jarius Sneed, both of whom are slated to be free agents at season’s end. 

Mahomes, once again, will play a pivotal role in helping the Chiefs bolster their roster — this time, off the field.