Whether they win or lose on Sunday, the Kansas City Chiefs will be trying to improve their team in order to make a run at the Super
Bowl the following year. Might renegotiating Patrick Mahomes’ contract be essential to achieving that?
In 2020, Mahomes inked a lucrative 10-year contract deal valued at almost half a billion dollars. However, despite the substantial
sum, the agreement was seen as team-friendly because it included less guaranteed money and plenty of flexibility for future
adjustments.
In September, Mahomes and the Chiefs reached a significant agreement on a contract renegotiation that effectively shortened the
quarterback’s term while increasing his guaranteed money. The new contract assured Mahomes $210.6 million over a four-year period
from 2023 to 2026, the highest amount in NFL history.
The Chiefs are still expected to find a way to lower Mahomes’ cap hit for the upcoming season, according to a report from Jonathan
Jones of CBS Sports. Mahomes’ cap hit, as it stands, is reportedly just shy of $60 million. The report stated that the Chiefs could
feasibly lower Mahomes’ cap hit to the “low 20s” next season with another contract restructure. Such a move would open up an
estimated $37 million in cap space.
The Chiefs need to address a number of significant vulnerabilities, especially at wide receiver. In addition, the organization must pay
to re-sign defensive cornerbacks Chris Jones and L’Jarius Sneed, who will both become unrestricted free agents at the conclusion of
the season. Once more, Mahomes will be essential to the Chiefs’ efforts to strengthen their squad off the field.
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