In a race to become compliant with the 2025 salary cap before 4 p.m. ET on Wednesday, the Chiefs restructured their largest contracts and cleared more than $49 million, according to multiple reports.

The Chiefs had largely already spent that money but deals are not official until the start of the league year on Wednesday afternoon.

Quarterback Patrick Mahomes revised his deal for the fourth time since 2021. His contract value of $450 million is tops in the NFL and the deal runs through the 2031 season. The 29-year-old shifted approximately $23 million of his salary, which would fit almost precisely with the franchise tag value for retaining guard Trey Smith.

Mahomes has base salaries in 2026 ($45.4 million) and 2027 ($45.8 million) that are 4.5 times higher than his $9.8 million salary last season.

Defensive tackle Chris Jones signed a five-year, $158.8 million contract in 2024 and has a restructure bonus of $27.5 million on the books for 2025.

In addition to using the franchise tag to retain top free agent Smith, the Chiefs agreed to deals with free agent offensive tackle Jaylon Moore (49ers), cornerback Kristian Fulton (Chargers) and running back Elijah Mitchell (49ers) and re-signed linebacker Nick Bolton and wide receiver Hollywood Brown.

–Field Level Media