According to Adam Schefter, the Chiefs and Patrick Mahomes have agreed to a restructured contract that will create $21.6 million in cap space this offseason.
This was long the expectation with Kansas City $6 million over the salary cap. It was reported last month that the two sides were negotiating a restructured deal.
Mahomes is set to make $210.6 million through the 2026 season, with an increase to $211.85 if he wins the Super Bowl. He also has incentives that will earn him more money than any other player over four seasons in NFL history.
Mahomes, 28, 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.
Mahomes agreed to a 10-year extension with the Chiefs worth $503 million a few months later.
In 2023, Mahomes appeared in 16 games for the Chiefs and completed 67.2 percent of his pass attempts for 4,183 yards, 27 touchdowns, and 14 interceptions to go along with 389 rushing yards.
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