The first big move of the Kansas City Chiefs' offseason has been made as the AFC titan makes its push toward a return to Super Bowl contention.
The Chiefs entered the offseason well over the NFL's new salary cap, which will range from $301.2 million to $305.7 million in 2026. That meant the team would be forced to pull the trigger on a few financial adjustments before making much-needed roster improvements before the upcoming campaign begins.
Kansas City made a massive decision midweek, as Over the Cap (OTC) reported on Wednesday that the Chiefs restructured quarterback Patrick Mahomes' contract to create $43.56M in cap space. Per OTC, the move dropped Mahomes' 2026 cap hit from $78.2M to $34.65M.
"Mahomes salary cap number in each of the next four seasons will now rise by $10.89 million per year," wrote Jason Fitzgerald of OTC*.* "His cap number for 2027 will now be over $85 million. While Mahomes is under contract to the Chiefs through 2031, it is likely that the team will look at extending him or making a major modification to his contract by 2028."
Fitzgerald added: "In prior renegotiations, the Chiefs moved money up from 2028 and 2029 to keep Mahomes salary more in line with the rest of the NFL. His salary drops significantly in 2028, so another change is likely. Mahomes had signed a shocking 10-year contract extension with the Chiefs in 2020, the type of contract which had not been seen in at least 20 years, as has not been seen since."
It's the fourth straight year in which the Chiefs' QB has agreed to a contract restructure to improve his team's financial position. In March of last year, Mahomes joined defensive tackle Chris Jones in allowing the team to create $49.4M in cap space.
Even with the restructure of Mahomes' contract in 2026, OTC still expects Kansas City to remain around $11M over the cap.
The Chiefs had a streak of 10 straight playoff appearances snapped this past season, which they finished 6-11 and in third place in the AFC West. Kansas City had also previously won at least one playoff game in seven straight seasons, a span that featured three Super Bowl victories with Mahomes under center.
The nine-year veteran is a two-time NFL MVP and three-time Super Bowl MVP, but will have some work to do if he hopes to lead his team back to the top of the heap in 2026. Mahomes was lost for his team's final three games of the '25 campaign due to a knee injury, but he is expected to make a strong effort to return in time for the start of next season.
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