The Kansas City Chiefs are working to restructure the contract of Patrick Mahomes, a move expected to offer millions of dollars in salary cap relief.
The pending contract decision would save Kansas City around $17 million against the salary cap, according to reports from ESPN’s Adam Schefter. The Chiefs are expected to convert Mahomes’ $21.7 million roster bonus into a signing bonus.
The NFL informed teams Wednesday morning that the 2021 salary camp would be set at $182.5 million. Teams are required to get below the cap by the time the new league year starts on March 17.
According to salary-cap website Over the Cap, the Chiefs currently project to be around $4 million over the cap if the contract is restructured as planned. Kansas City recently released two starting offensive tackles, former No. 1 overall draft pick Eric Fisher and veteran Mitchell Schwartz, for some cap relief.
Mahomes originally signed a 10-year contract last July worth more than $500 million.
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