Chiefs, Mahomes to restructure contract to save money
TOPEKA, Kan. (WIBW) - The Kansas City Chiefs will restructure the Patrick Mahomes contract in order to save the team $17 million against the cap.
According to two of the sports world’s top reporters, the Kansas City Chiefs will restructure the Patrick Mahomes contract, which will save the team about $17 million against the cap, which could allow the team to look for some free-agents to add to the roster.
Adam Schefter, ESPN Senior NFL Insider, tweeted that the Chiefs are expected to convert Mahomes’ $21.7 million roster bonus into a signing bonus.
Tom Pelissero, Reporter for NFL Network, tweeted that the Mahomes contract has automatic conversion language that gives the team permission to convert salary or bonuses to a signing bonus in order to create cap space.
#Chiefs QB Patrick Mahomes’ contract, like many, has automatic conversion language that allows the team to convert salary or bonuses to a signing bonus at any time to create cap space. It’s anticipated KC will do that in the coming days, as almost every team is doing right now.— Tom Pelissero (@TomPelissero) March 12, 2021
Both said that other teams in the NFL are making similar moves.
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