Patrick Mahomes Restructures Contract (Again) for Chiefs’ Cap Relief

Patrick Mahomes continues to be a team player. 

According to the Associated Press, the Chiefs’ quarterback has restructured his contract for the second time in three years to help his team get some salary cap relief. 

Had the deal gone untouched, Mahomes’s deal would have counted for $58 million against the cap for the 2021 season, but now will count for only $21 million, according to the AP. Mahomes’s 10-year extension, carrying a theoretical value of $503 million, was the richest contract in the history of U.S. sports when it was signed in ’20. Despite being the repeat Super Bowl champions, Kansas City still has holes to fill, including at wide receiver and on the offensive line, to help protect its franchise quarterback. 

Mahomes’s decision isn’t unique among quarterbacks of his ilk, especially in their prime. Tom Brady didn’t have a salary cap hit north of $20 million while with the Patriots until his second-to-last season in New England as a way to keep the team’s core together. Like Brady, Mahomes has numerous off-field endorsements, most notably State Farm insurance, and isn’t feeling much of a hit in his wallet. 

The Chiefs recently re-signed star defensive tackle Chris Jones to a five-year deal worth almost $160 million. Jones signed his previous contract in 2020, a four-year $85 million extension, shortly after Mahomes signed his record-setting contract. Mahomes could have become the NFL’s first $50 million–a-year quarterback, but he decided not to for cap flexibility. 

When Jones signed his deal in 2020, Mahomes texted him: “Let’s get this thing done. I left some on the table.” 

Four years later, he has done so again.