National Football League

Patrick Mahomes reportedly restructuring contract to free up $21.6M in cap space

Published Mar. 12, 2024 8:35 p.m. ET

The Kansas City Chiefs have received some help from their superstar quarterback in freeing up some additional money this offseason.

Patrick Mahomes has agreed to restructure his contract to create an additional $21.6 million worth of salary-cap space for the Chiefs, ESPN reported Tuesday.

This will mark the second time the two-time MVP has restructured his contract in less than a year. He also did so in September 2023, which set him up to earn up to $210.6 million between 2023 and 2026.

The new available cash will help the Chiefs during free agency, as the team looks to build for a third straight Super Bowl title after bringing back star pass-rusher Chris Jones on a five-year, $95 million deal that is mostly guaranteed earlier this week.

Mahomes is one of the highest-paid players in the NFL after signing a 10-year, $477 million extension in 2020.

The record-setting contract at the time had another $26 million in bonuses, bringing the possible total value to $503 million.

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