Report: Patrick Mahomes to restructure pact, lessen Chiefs’ cap hit

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Star quarterback Patrick Mahomes plans to restructure his contract with the Kansas City Chiefs, freeing up $21.6 million against the salary cap, ESPN reported Tuesday.

Mahomes, who signed a $450 million contract extension in 2020, would count over $58 million toward the cap without a restructuring.

The seven-year veteran, who is coming off back-to-back Super Bowl victories, has been named the game’s MVP three times, and has been the league’s MVP twice.

After a slow start to the 2023 season, Mahomes finished with 4,183 yards passing, his second-lowest total since he took over as starter in 2018. He rallied the Chiefs to a 25-22 come-from-behind victory over the San Francisco 49ers in Super Bowl LVIII last month, throwing for 333 yards and two touchdowns with one interception.