If only saving money in daily life was as easy it is in the NFL.
The Kansas City Chiefs were able to free up $43.6 million in salary cap space on Feb. 18 by restructuring quarterback Patrick Mahomes’ contract, per reports.
Before the restructure, the Chiefs’ star quarterback was set to enter the 2026 league year with a $78.2 million cap hit, according to OverTheCap. Instead, Kansas City converted $54.5 million of Mahomes’ 2026 salary and roster bonus into a signing bonus, dropping his cap hit to $34.7 million this year.
The Chiefs, who entered the offseason more than $54 million over the salary cap, according to OverTheCap, save $43.6 million with the restructure. They still remain roughly $11 million over the projected 2026 salary cap, which will be between $301.2 million and $305.7 million per team according to USA TODAY Sports’ reporting on Jan. 30.
Mahomes is entering the fifth year of the 10-year, $450 million contract extension he signed in 2020. In 2023, the star quarterback and Kansas City agreed to restructure his contract to pay him $210.6 million in guaranteed money between 2023 and 2026.
One year later, another Mahomes contract restructure opened up $21.6 million in cap room for 2024, and last year, the Chiefs created $49 million in cap space by restructuring Mahomes’ and Chris Jones’ contracts.
Mahomes’ contract is now due for an $85.3 million cap hit next year, though reports surrounding the quarterback’s 2023 restructure indicated that he and the Chiefs would revisit his contract after 2026.
Mahomes and the Chiefs missed the playoffs for the first time in his career in 2025. The two-time NFL MVP tore his ACL and LCL in a December game against the Los Angeles Chargers, cutting short a season that featured a career-low 62.7% completion rate and a 6-8 record as a starter. Mahomes is rehabbing and recovering from the injury and hopes to be ready by Week 1, Chiefs owner Clark Hunt said on Jan. 27.
Chiefs cap space
- Cap space: -$11.4 million
According to OverTheCap, the Chiefs are still projected to be more than $11 million over the 2026 salary cap. They rank 28th in the NFL in cap space with just under one month left before the start of the free agency negotiating period and new league year.
Patrick Mahomes cap hits by year
Here’s how much the remainder of Mahomes’ contract is worth in salary cap hits over the next six seasons, per Spotrac:
- 2026: $34,653,888
- 2027: $85,253,888
- 2028: $53,014,000
- 2029: $55,414,000
- 2030: $56,415,000
- 2031: $48,375,000
Given that Mahomes and the Chiefs indicated in 2023 that they’d revisit his contract structure after 2026, it’s likely these numbers will change before Mahomes’ cap hit ever reaches that $85.3 million number next year.
