Patrick Mahomes will reportedly restructure contract to give Chiefs cap room

The K.C. Chiefs are going to be creating quite a bit more salary cap space with the reported restructuring of star quarterback Patrick Mahomes‘ deal in coming days, per ESPN reporter Adam Schefter.

The Chiefs are in the midst of a series of moves made in order to get under the salary cap ceiling for the new league year in 2021, and at this point, they’re likely going to have ample wiggle room beneath the cap in order to make some new roster acquisitions even as they’re jettisoning other players. The Chiefs already have announced the release of two expensive veterans in left tackle Eric Fisher and right tackle Mitchell Schwartz on Thursday.

Rumors that the Chiefs would use a restructured deal for Mahomes to clear space have floated since the offseason began, as it seemed to be a pretty obvious move for the Chiefs to use to get under the cap. Pairing it with the release of veteran players will create even more space. Another rumored deal is that the Chiefs will also extend Tyrann Mathieu with a new contract, which will likely give them even more space to work in.

As of press time, the Chiefs are still nearly $4.5 million in the red when it comes to the salary cap for ’21 according to Over the Cap, but that fails to include rollover cap room from the previous season as well as any further restructure here since nothing is officially.

Mahomes signed a 10-year, $450 million extension last summer, and the size of the deal means that this might not be the last time the Chiefs approach Mahomes’ deal for a restructure in order to create cap space.