KANSAS CITY, Mo. (WDAF) — The half-a-billion-dollar man is getting some adjustments to his contract.
Reports said the Kansas City Chiefs converted $12 million of quarterback Patrick Mahomes’ 2023 roster bonus into a signing bonus, creating $9.6M in cap space.
According to Spotrac, Mahomes’ roster bonus is $34.4 million, while his signing bonus is $2 million. The move turns his roster bonus to $22.4 million, and he gets a restructure bonus of $12 million.
At this point in his contract, the 27-year-old has roster guarantees and bonuses up to the year 2025.
The move allows the quarterback to get his money faster and allows the Chiefs to make a few more moves in free agency.
The Chiefs now have an estimated cap space of $17.2 million.
Mahomes is coming off of an MVP and a Super Bowl MVP season that has the Chiefs on top of the world but adjusting to a flurry of roster moves in the offseason.
The Chiefs chose to let left tackle Orlando Brown Jr., defensive tackle Khalen Saunders, safety Juan Thornhill and fullback Michael Burton hit free agency and cut defensive end Frank Clark but also signed defensive end Charles Omenihu and offensive tackle Jawaan Taylor to help replace those pieces.