Report: Patrick Mahomes, Chris Jones Rework Chiefs Contracts; Updated NFL Salary Cap

Having agreed to a few deals early in the legal tampering period, the Kansas City Chiefs have adjusted contracts for Patrick Mahomes and Chris Jones to clear cap space so those new additions can officially sign their pacts.

Per ESPN's Field Yates, Mahomes and Jones restructured their deals to free up $49.5 million in cap space for the reigning AFC champs.

Per Over the Cap, the Chiefs entered Wednesday $19.9 million over the cap. Teams have to be cap compliant before the new league year officially begins at 4 p.m. ET.

The Chiefs wasted little time making moves when the legal tampering period opened Monday. Jaylon Moore agreed to a two-year, $30 million contract that will likely make him their starting left tackle next season.

Veteran cornerback Kristian Fulton got a two-year, $20 million deal, and he could start opposite Trent McDuffie.

Mahomes still has seven years remaining on the 10-year, $450 million extension he signed in 2020. The Chiefs did restructure the deal in 2023 to guarantee him $210.6 million through 2026, which at the time was the richest four-year payout in NFL history.

This is the second consecutive year the Chiefs have restructured Mahomes' deal for cap purposes. They freed up $21.6 million last year.

Jones signed a five-year, $158.8 million extension last offseason that made him the league's highest-paid defensive tackle. The deal was structured to keep his cap hit at just $7.4 million in 2024, but it was set to go up to $34.9 million in 2025 prior to his restructure.

Instead, Jones will count an estimated $12.9 million against the cap next season.

In addition to their free-agent signings, the Chiefs also needed to clear cap room to be able to sign their incoming rookies after the draft in April.

Since there's very little chance of Mahomes or Jones not being on the roster in the near future, the Chiefs pushing some of their money into the future as they try to retool in hopes of making another Super Bowl run in 2025 makes all the sense in the world.