Patrick Mahomes restructure will free up $17 million of cap room for Chiefs

Tom Brady signed an extension with the Buccaneers on Friday that opens up $19 million in cap room for the 2021 season and the other quarterback from Super Bowl LV will be tweaking his contract to give the Chiefs more space.

Adam Schefter of ESPN reports that the Chiefs will convert Mahomes’ $21.7 million roster bonus for this season into a signing bonus. That will allow them to spread the cap hit out into future years and open up $17 million in cap space for the coming year.

Mahomes signed a 10-year deal with the Chiefs before the 2020 season, so there are plenty of future years for the Chiefs to use to their short-term cap advantage. The coming years could see more of the same as Mahomes has large roster bonuses due each season.

The Chiefs released starting offensive tackles Eric Fisher and Mitchell Schwartz this week and reworking Mahomes’ contract should help the team find new players to protect the quarterback in the years to come.