(Photo : Ezra Shaw/Getty Images) LAS VEGAS, NEVADA – Patrick Mahomes (#15) of the Kansas City Chiefs celebrates after defeating the San Francisco 49ers 25-22 throughout Super Bowl LVIII at Allegiant Stadium on February 11, 2024 in Las Vegas, Nevada. The Chiefs defeated the 49ers 25-22 in extra time.
The Kansas City Chiefs will considerably scale back their wage cap burden within the upcoming season as quarterback Patrick Mahomes has agreed to restructure his contract on Tuesday, March 12.
The reigning Super Bowl MVP’s determination will generate an extra $21.6 million in wage cap area for the Chiefs, as reported by NFL insider Adam Schefter of ESPN.
Before the restructuring, the 28-year-old’s compensation was slated to depend for greater than $58.6 million in opposition to the Chiefs’ wage cap for the 2024 NFL season.
Mahomes’ 2024 cap hit will now be decreased to solely $37.0 million, giving the crew sufficient monetary flexibility to bolster their squad as they purpose to win one other Super Bowl title.
His future cap hit will quantity to $66.2 million in 2025 and $68.6 million in 2026.
Patrick Mahomes has the most important contract in NFL historical past
In 2020, Mahomes signed a monumental ten-year contract valued at as much as $503 million, the most important pact in NFL historical past and one of many largest sports activities contracts ever.
This settlement will maintain him with Kansas City by means of 2031, and since inking that settlement, the signal-caller has been the highest-paid participant within the league when it comes to whole contract worth.
The Chiefs are heading into the 2024 NFL season with the objective of creating historical past by turning into the primary NFL crew to win three consecutive Super Bowl championships.
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