The Kansas City Chiefs converted $12 million of QB Patrick Mahomes’ 2023 roster bonus into a signing bonus in recent days, according to Field Yates.
This move netted the Chiefs $9.6 million of cap space to work with this offseason.
Mahomes’ contract is an annual source of cap relief for the Chiefs, as it’s designed to be reworked and to push money down the road.
Mahomes, 27, is a former first-round pick of the Chiefs back in 2017. He was in the final year of a four-year, $16.4 million contract when the Chiefs picked up his fifth-year option worth $24,837,000 for the 2021 season.
However, Mahomes agreed to a 10-year extension with the Chiefs worth $503 million a few months later.
In 2022, Mahomes appeared in all 17 games for the Chiefs and completed 67.1 percent of his pass attempts for 5,250 yards, 41 touchdowns and 12 interceptions to go along with 358 rushing yards and four touchdowns.
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