• Loading stock data...
Tuesday, April 16, 2024
  • -
  • -
  • -
  • -

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

  • Mahomes has endorsements such as Subway and State Farm to supplement income.
  • The three-time Super Bowl winner has adjusted his contract before to help the team.
Mark J. Rebilas-USA TODAY Sports

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. 

Copy Link
Link Copied
Link Copied

What to Read

To Sum Up Current Commanders, Coyotes Situations: It’s Complicated

The Commanders hire a Capitol Hill insider as the team continues its stadium pursuit.

Caitlin Clark Drives Massive WNBA Draft Audience for ESPN

Clark’s coronation was the most-watched WNBA telecast in decades.

Mythical Knicks Pitch to LeBron James With ‘Sopranos,’ Trump, Weinstein Leaks 14 Years Later

Video shows Tony and Carmela Soprano recruiting LeBron James to the Knicks.

For Caitlin Clark and Other Rookies: Now a 29-Day Sprint to WNBA Debut

The league regular season starts swiftly after college basketball ends.
podcast thumbnail mobile
Front Office Sports Today

Inside the Most-Hyped WNBA Draft in History


Featured Today

Women’s Basketball Finally Has a TV Deal to Match the Excitement. Now What?

A lucrative new media-rights contract could rectify problems of the past, but the future of March Madness media rights is anyone’s guess.
Mar 16, 2024; Washington, D.C., USA; North Carolina State Wolfpack forward DJ Burns Jr. (30) cuts the net after defeating the North Carolina Tar Heels for the ACC Conference Championship at Capital One Arena.
April 6, 2024

How Two College Seniors Helped DJ Burns Cash In on a Final Four Run

Two college seniors are facilitating deals for NC State’s big man.
Mar 31, 2024; Portland, OR, USA; NCAA officials measure the three point line while coaches from the Texas Longhorns and NC State Wolfpack watch with referees in the finals of the Portland Regional of the NCAA Tournament at the Moda Center center.
April 1, 2024

NCAA Has No One to Blame for Latest Women’s March Madness Transgressions

NCAA is still making avoidable mistakes three years after a complete overhaul.
Nov 16, 2015; Bloomington, IN, USA; General view of the championship banners at Assembly Hall prior to the game between Austin Peay and Indiana.
March 31, 2024

How to Make It in Basketball: Become a Manager at Indiana

Inside the Hoosiers’ unglamorous, profoundly rewarding incubator for basketball’s biggest names.


Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Multiple - USA Careers
Multiple - USA Careers
Dunham's Sports
Multiple - USA Careers
Minnesota Twins short stop Carlos Correa shrugs after a bad call

Carlos Correa Caps Off Mets’ Unprecedented $800M Offseason

New York will spend $498M between payroll and luxury tax in 2023.
Justin Verlander speaking to media during a 2022 World Series press conference
December 5, 2022

Justin Verlander Latest Deal in MLB Pitching Contract Craze

Verlander’s new Mets contract has MLB’s second-largest AAV ($43M) ever.
Minnesota Twins shortstop Carlos Correa shows a thumbs-up to bench
December 14, 2022

Carlos Correa, Giants Agree to Record Infielder Contract

Correa and San Francisco reportedly agreed to a 13-year, $350M contract.

Rapid Returns: How Technology Is Getting You Back to Your Seat

How Oracle’s POS technology is helping fans get back to their seats faster.
Portuguese superstar Cristiano Rolando gives thumbs during World Cup match
November 30, 2022

Ronaldo Could Become Highest-Earning Athlete With Next Club

The contract with Al Nassr would have the largest annual salary ever.
October 14, 2022

Carlos Correa Opts Out of Bizarre Twins Contract

Correa’s signed the three-year, $105.3 million pact with Minnesota in March.
September 20, 2022

Nathan MacKinnon Becomes Highest-Paid Player in NHL History

The Avalanche superstar’s $12.6M AAV is the largest in league history.
September 19, 2022

49ers’ Jimmy Garoppolo To Make Extra $4.1M as New Starter

Garoppolo stands to make $350K for each win he notches as starter.