The Kansas City Chiefs are expected to restructure quarterback Patrick Mahomes’ contract to provide some relief, sources told ESPN’s Adam Schefter.
The team is expected to convert Mahomes’ $ 21.7 million roster bonus into a signing bonus in the coming days, saving the Chiefs $ 17 million on the salary cap, sources said.
In July, the two sides agreed on a 10-year contract extension linking Mahomes to Kansas City until the 2031 season.
League sources then told Schefter that the deal is worth $ 450 million over 10 years and could go up to $ 503 million. The extension includes a $ 140 million damage warranty as well as a trade ban.
The Chiefs took over Mahomes’ fifth-year option for the 2021 season in April, putting him under contract for the next two seasons. Mahomes still had two years and $ 27.6 million left for his deal – $ 2.8 million in 2020 and $ 24.8 million in 2021. With the 10-year extension, he is under contract with the Chiefs for the next 12 seasons .
Mahomes, 25, has won a League MVP and a Super Bowl MVP, and he has led the Chiefs to the championship game in each of the past two seasons with a win over the San Francisco 49ers and a loss this past season against the Tampa Bay. Buccaneers.
Kansas City hopes Mahomes will have recovered from toe surgery in February to participate in June’s mini camp. He is expected to be ready to leave later in the summer at the start of the training camp.
ESPN’s Adam Teicher contributed to this report.