Report: Travis Kelce, Chiefs Agree to Restructured Contract to Create Cap Space

The Kansas City Chiefs and tight end Travis Kelce agreed to a restructured contract Tuesday that will convert his 2022 base salary into a signing bonus.

Field Yates of ESPN reported the move will create an additional $3.5 million in cap space for the Chiefs.

Kansas City began the day with around $3.7 million in cap space. This move will give the front office a little breathing room as it looks to shore up the roster for a potential Super Bowl run.

The Chiefs could be among the contenders for Odell Beckham Jr. once he's cleared to play later this season. Beckham is expected to be out until at least Thanksgiving with a torn ACL suffered during the Los Angeles Rams' Super Bowl LVI win over the Cincinnati Bengals.

Beckham built a strong rapport with the Los Angeles Rams last season and has looked likely to return there once healthy, but the Chiefs still could be a player for the three-time Pro Bowler.

Kansas City could also explore a trade for Panthers running back Christian McCaffrey, who could be traded before the Nov. 1 deadline as Carolina looks to rebuild its roster amid a 1-5 start. Clyde Edwards-Helaire has remained a solid option this season, but the Chiefs have not had a truly dynamic player in their backfield since Kareem Hunt's departure midway through the 2018 season.

More than anything, restructuring Kelce's contract gives the Chiefs a little bit of room to explore their options. Perhaps no deal comes to pass, but having that little bit of extra cap space could wind up paying huge dividends.