Sources: Chiefs to restructure Mahomes’ contract

The Kansas Metropolis Chiefs are expected to restructure quarterback Patrick Mahomes‘ contract to present some cap relief, sources urged ESPN’s Adam Schefter.

The group is anticipated to severely change Mahomes’ $21.7 million roster bonus to a signing bonus within the approaching days, which could put the Chiefs $17 million in opposition to the salary cap, sources acknowledged.

In July, the two aspects reached settlement on a 10-Three hundred and sixty five days contract extension that ties Mahomes to Kansas Metropolis thru the 2031 season.

League sources urged Schefter then that the deal is value $450 million over the 10-Three hundred and sixty five days length and have to tranquil be value up to $503 million. The extension involves a $140 million injure guarantee, as well to a no-change clause.

The Chiefs picked up Mahomes’ fifth-Three hundred and sixty five days option for the 2021 season in April, hanging him under contract for the next two seasons. Mahomes had two years and $27.6 million left on his deal — $2.8 million in 2020 and $24.8 million in 2021. The 10-Three hundred and sixty five days extension locations him under contract with the Chiefs for the next 12 seasons.

Mahomes, 25, has gained a league MVP and a Giant Bowl MVP, and he has led the Chiefs to the championship sport in every of the previous two seasons with a defend over the San Francisco 49ers and a loss this previous season to the Tampa Bay Buccaneers.

Kansas Metropolis is hopeful Mahomes will own recovered from February toe surgical blueprint to receive part within the group’s June minicamp. The expectation is that he’s going to be ready to walk by the open up of coaching camp later within the summertime.

ESPN’s Adam Teicher contributed to this document.