Mahomes Reworks Deal, Clears $43.6M for Cap-Strapped Chiefs

The Chiefs have again restructured the contract of star quarterback Patrick Mahomes, opening up nearly $43.6 million in additional salary cap space for the 2026 season.

The latest adjustment, the fourth to Mahomes’s deal in as many years, will see $44.05 million of his base salary and a $10.4 million roster bonus converted into a fully guaranteed roster bonus. Mahomes was set to count a whopping $78.2 million against the salary cap in the upcoming season, but the latest shifts reduce that figure to a far more manageable $34.65 million. 

Mahomes signed a 10-year, $450 million contract in July 2020, at the time the largest player deal in North American team sports history, and subsequent restructurings along the way were always contemplated by the player’s camp and the Chiefs. Another similar move is all but certain next year, as the 2027 salary cap number for Mahomes is currently $85.3 million.

The ongoing shifts continue to show the fluidity inherent in NFL salary management. The current situation for Kansas City, though, is very different than after the last three changes to the Mahomes deal, when the Chiefs were defending AFC champions each time and Super Bowl winners twice. This time, the club is retooling after a disappointing 6–11 season in 2025, and Mahomes is recovering from a torn knee ligament. 

The NFL salary cap is projected to be between $301 million and $306 million for 2026, more than $20 million greater than the 2025 level and about 50% higher than the limit of just four years ago. 

Still, the Chiefs have more work to do, as even with the Mahomes move, the team is still about $11 million over the top end of the projected cap, meaning other player moves will be required to get in compliance. Kansas City previously went on a roster spending spree to help enable a lengthy and dominant run that has included three Super Bowl wins and two other conference titles, but higher bills are now coming due.

Every team must be cap-compliant when the new league year starts on March 11.

The Chiefs, meanwhile, continue on their plans to build a new domed stadium and a separate training facility in Kansas. Most recently, the team selected two architecture firms as finalists to design the stadium.