The Kansas Metropolis Chiefs are restructuring quarterback Patrick Mahomes’ contract in a transfer that might save the membership $17 million in opposition to the 2021 NFL wage cap, as first reported by ESPN’s Adam Schefter.
Patrick Mahomes pending contract restructure that may save the Chiefs about $17 million in opposition to the cap will enable KC to do some free-agent procuring…. https://t.co/py1pVGCxVm
— Adam Schefter (@AdamSchefter) March 12, 2021
Schefter notes that the workforce will convert Mahomes’ $21.7 million roster bonus to a signing bonus within the coming days, which might save Kansas Metropolis $17 million in opposition to the cap. If the maths is correct, based mostly upon what we all know, that might put the chiefs roughly $13 million below the cap simply in time for the league’s new yr on March 17.
NFL Community’s Tom Pelissero added a be aware concerning language in Mahomes’ contract, which sees him in Kansas Metropolis for the following 11 seasons.
#Chiefs QB Patrick Mahomes’ contract, like many, has computerized conversion language that enables the workforce to transform wage or bonuses to a signing bonus at any time to create cap house. It’s anticipated KC will do this within the coming days, as nearly each workforce is doing proper now.
— Tom Pelissero (@TomPelissero) March 12, 2021
What’s going to this imply for the Chiefs in free company? Keep tuned.