James Palmer of NFL Network reported Monday that the moves should give the Chiefs around $20 million in cap space to start the league year. While the new structures of their deals are yet to be reported, it's likely the three stars converted most of their base salaries into signing bonuses.
That would allow the Chiefs to spread out the money over the course of their contracts.
Kansas City was an estimated $12.2 million under the salary cap. While that gives the Chiefs maneuverability in signing their draft picks, their ability to retain free agents or improve their roster elsewhere is minimal.
Considering the team cut starting offensive tackles Eric Fisher and Mitchell Schwartz, it's likely the Chiefs' main focus will be finding a way to protect Mahomes in free agency and the draft. Neither Fisher nor Schwartz was among the NFL's best tackles, but they were stable, steady fixtures on the line who helped give Mahomes time to pull off the spectacular.
The Chiefs found out firsthand in Super Bowl LV how quickly things fall apart without a strong offensive line. Fisher and Schwartz both missed the game because of injury, and Mahomes spent most of the evening scrambling or getting pummeled in the pocket.
By agreeing to restructured deals, Mahomes, Kelce and Jones will help the Chiefs stay competitive immediately while not actually losing any money. Not a bad deal.