The Kansas City Chiefs are expected to restructure quarterback Patrick Mahomes’ contract to provide some relief, sources told ESPN’s Adam Schefter.
The team is expected to convert Mahomes’ $ 21.7 million roster bonus in the coming days into a signing bonus, which will save the Chiefs $ 17 million against the salary cap, sources said.
In July, the two parties agreed on a ten-year extension that binds Mahomes to Kansas City through the 2031 season.
League sources told Schefter that the deal was worth $ 450 million over a ten-year period and could be worth up to $ 503 million. The extension includes a $ 140 million injury guarantee, as well as a non-trade clause.
The Chiefs selected Mahomes’ fifth-year option for the 2021 season in April and put him under contract for the next two seasons. Mahomes has two years and $ 27.6 million left on his contract – $ 2.8 million in 2020 and $ 24.8 million in 2021. The ten-year extension puts him under contract with the Chiefs for the next 12 seasons.
Mahomes, 25, has won a league MVP and a Super Bowl MVP, and he has led the Chiefs to the championship game in each of the past two seasons with a win over the San Francisco 49ers and a loss recently season against Tampa Bay. Buccaneers.
Kansas City is hopeful that Mahomes has recovered from February’s show surgery to take part in the team’s June mini-camp. The expectation is that he will be ready to get started with the training camp later in the summer.
ESPN’s Adam Teicher contributed to this report.