Patrick Mahomes gets new Chiefs deal: Contract restructured to make cap space
The 2025 season was one to forget for the Kansas City Chiefs but the front office now has room for some offseason moves.
After a period of historic success, the Kansas City Chiefs came crashing back to earth in 2025. The team failed to make the postseason for the first time since 2014 and the front office is preparing for a busy offseason. One of the first major moves was restructuring the contract of the highest-paid player: Patrick Mahomes.
The restructuring was reported by Over the Cap on Wednesday, revealing that the star quarterback will see $54.45 million of his 2026 salary converted into a signing bonus. As a result his cap number for the upcoming season falls to $34.65 million, down from $78.2 million.
In doing so, the Chiefs managed to create an additional $43.65 million in cap space to help with the retooling for 2026. This is the fourth consecutive season in which the Chiefs have restructured Mahomes’ deal and it was much-needed, given that the team entered the offseason a whopping $57 million over the cap.
What next for the Kansas City Chiefs?
Back in 2020 Patrick Mahomes signed a ten-year deal worth $450 million, at the time the most lucrative contract in the history of U.S. team sports. It tied down one of the defining players of the modern NFL but also represents a major financial outlay for the team.
This year - coming off the back of a rare losing season, with a number of well-paid veterans approaching the end of their careers - there are some big decisions to be made in Kansas City. Offensive lineman Jawaan Taylor has just one year remaining on his four-year, $80 million deal. Chris Jones is set to count for $45 million against the cap in 2026 and may also need a restructured deal.
The likes of Mike Danna, Noah Gray and Drue Tranquill have all been good servants to the team but could be released ahead of the 2026 season if the Chiefs are confident that adequate replacements can be found. It all adds up to a time of real change for the Chiefs franchise as they look to regroup and go again in 2026.
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