The Kansas City Chiefs took the first step in addressing their deficit salary-cap situation, restructuring the contract of quarterback Patrick Mahomes according to Jesse Newell of The Athletic, with the news reported in multiple other outlets.
This restructuring has been expected for some time, and it would have occurred even if Mahomes hadn’t been injured against the Houston Texans in Week 13. According to Newell’s report, the transaction gives the Chiefs $43.56 million in cap space for the upcoming season by converting $54.45 of Mahomes’ contract into a signing bonus. As a result, the quarterback’s cap hit went from $78.2 million to $34.65 million.
It’s fair to wonder if Mahomes gave the Chiefs some kind of discount due to his season-ending knee injury, but that’s not something we’ll know any time soon, if ever. It’s unlikely, but Mahomes has made his dealings with the Chiefs increasingly cap-friendly because he realizes the importance of having top-notch talent around him, and that’s more important than ever this offseason.
The move leaves the Chiefs $11.3 million over the cap at the moment, but that, too, is expected to change quickly. Cutting disappointing offensive lineman Jawaan Taylor and his $20 million has been a done deal in the media for weeks now, and defensive end Mike Danna is also expected to be a cap cut, with his current salary listed at $8.9 million.
The Chiefs definitely need the money. They may need to re-sign tight end Travis Kelce if he signs on for his 14th season, but Kelce hasn’t announced whether he intends to return yet.
There are other cap-related issues in different positional groups that need to be addressed as well. The biggest cap issues are in the secondary, where safety Bryan Cook and cornerback Jaylon Watson are both headed into free agency.
Slot corner Trent McDuffie is also up for a possible extension, but he’s rumored to be a trade candidate, with the Los Angeles Rams surfacing as the most likely candidate right now given that they have an extra first-round pick to offer.
Linebacker Leo Chenal is also heading into free agency, and defensive tackle Chris Jones could be another restructure candidate. It’s too soon to speculate about who gets restructured and who gets re-signed, but the Chiefs will almost certainly make more moves than usual after finishing with a 6-11 record.
The fan base is hoping the Chiefs add a play-making running back and/or a big-play receiver with the size to make plays on the boundary, but at this point those possibilities are basically part of a wish list.