The Kansas City Chiefs have a major problem heading into the 2026 season: the salary cap. Andy Reid and general manager Brett Veach will have to make several important decisions, as they are $54 million over the limit.
Therefore, in recent weeks, rumors have grown about potential blockbuster trades to try to free up as much cap space as possible. Chris Jones and Trent McDuffie have been mentioned as possible candidates to leave, but so far, nothing is official.
Another factor in achieving the financial objective is Patrick Mahomes. The quarterback’s contract is very team-friendly, and some tweaks to the deal could quickly allow the Chiefs to relieve significant pressure on the salary cap.
What is Patrick Mahomes’ contract with Chiefs?
Patrick Mahomes signed a ten-year contract with the Chiefs in 2020 with a total value that could reach $503 million. Now, according to a report by Jason Fitzgerald, the expected restructuring of that deal has been confirmed.
“The Kansas City Chiefs converted $54.45 million of QB Patrick Mahomes’ 2026 salary into a signing bonus to create some much needed cap room for the Chiefs. The move lowered Mahomes’ salary cap number from $78.2 to $34.65 million for 2026, opening up $43.56 million in cap room for the Chiefs. This will be the fourth straight year that the Chiefs have restructured Mahomes’ contract to improve their salary cap situation.”
Now, general manager Brett Veach can work with less pressure as he considers other moves to clear the remaining space. A key moment is approaching for the Chiefs with the start of free agency.
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Are Chiefs over the salary cap in 2026?
Yes. The Chiefs are still over the salary cap in 2026, but the amount has dropped sharply following the adjustment to Patrick Mahomes’ contract. Now, the figure they need to clear in the coming weeks is approximately $11 million.
How much money is Patrick Mahomes making with Chiefs in salary?
Patrick Mahomes is earning an annual average of about $50 million in salary with the Kansas City Chiefs. In addition, when he signed the contract extension, a very important detail was that $477 million were guaranteed through various mechanisms.
