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The Kansas City Chiefs have restructured Patrick Mahomes’ contract, creating some breathing room under the salary cap as they head into the 2026 season. ESPN and other outlets confirmed the move this week.
Over the Cap first reported the news Wednesday. The team’s converting $54.45 million of Mahomes’ 2026 salary into a signing bonus — dropping his cap hit down to $34.65 million for that year.
It’s the fourth straight year Kansas City’s done this with their franchise quarterback.
The restructure frees up $43.65 million in cap space, which the Chiefs desperately needed after missing the playoffs in 2025. That’s a rough fall for a team that made the Super Bowl three years running before this season.
Kansas City entered the offseason more than $57 million over the cap. Even after reworking Mahomes’ deal, they’ll still need to make additional moves to get compliant. Mahomes, who’s currently recovering from knee surgery, was originally set to carry a $78.2 million cap number in 2026.
The catch? Mahomes will now count for an extra $11 million against the cap in each of the next four seasons. That brings his total cap hit to $85 million for 2027, according to Over the Cap. He’s a strong candidate for an extension before 2028, when both his salary and cap number drop off significantly.
Right now, though, the Chiefs need every dollar they can find. They’re coming off their first losing season in over a decade and have some tough decisions ahead on veteran contracts. The NFL’s new league year starts March 11 — that’s the deadline to be cap-compliant.
Star defensive lineman Chris Jones is another candidate for a restructure; he’s set to count for nearly $45 million against the cap. Offensive lineman Jawaan Taylor could be on the chopping block too — he’s got one year left on his four-year, $80 million deal.
Other veterans who might get released include Mike Danna, Drue Tranquill and Noah Gray.
Mahomes originally signed his 10-year, $450 million deal back in 2020. It was the richest contract in North American team sports history at the time. The two-time league MVP had surgery in mid-December to repair two torn ligaments in his left knee, but he’s said he wants to be ready for Kansas City’s 2026 season opener.
