The Kansas City Chiefs are expected to restructure quarterback Patrick Mahomes’ contract to provide some relief from the limit, ESPN sources said Adam Schefter.
The team is expected to convert the $ 21.7 million Mahomes bonus into a signature bonus over the next few days, which would save the Chiefs $ 17 million against the salary cap, the sources said.
In July, the two sides reached an agreement on a 10-year contract extension that links Mahomes to Kansas City until the 2031 season.
League sources told Schefter at the time that the deal is worth $ 450 million over 10 years and could be worth up to $ 503 million. The extension includes a $ 140 million damage guarantee, as well as a no-deal clause.
The Chiefs chose Mahomes’ fifth-year option for the 2021 season in April, placing him under contract for the next two seasons. Mahomes had two years and $ 27.6 million left in his business – $ 2.8 million in 2020 and $ 24.8 million in 2021. The 10-year extension puts him under contract with the Chiefs for the next 12 seasons.
Mahomes, 25, won a league MVP and a Super Bowl MVP, and led the Chiefs to the championship game each of the past two seasons with a win over the San Francisco 49ers and a loss the previous season to Tampa Bay Buccaneers.
Kansas City hopes Mahomes has recovered from February’s toe surgery to participate in the team’s minicamp in June. The expectation is that he will be ready to leave by the beginning of the camp at the end of the summer.
ESPN’s Adam Teicher contributed to this report.