Kansas City bosses are expected to restructure quarterback Patrick Mahomes’ contract to provide a lightening of the ceiling, sources told Adam Schefter of ESPN.
The team is expected to turn Muhammad’s $ 21.7 million bonus into a signing bonus in the coming days, which would save the bosses $ 17 million against the salary cap, sources said.
In July, the two sides reached an agreement on a 10-year contract extension that ties Muhammad to Kansas City until the 2031 season.
Sources in the league then told Schefter that the transaction was worth $ 450 million over a 10-year period and could be worth up to $ 503 million. The extension includes a $ 140 million damages guarantee, as well as a prohibition clause.
The bosses chose Muhammad’s fifth-year option for the 2021 season in April, putting him under contract for the next two seasons. Muhammad has two years and $ 27.6 million left on the deal – $ 2.8 million in 2020 and $ 24.8 million in 2021. The 10-year extension puts him under contract with the bosses for the next 12 seasons.
The 25-year-old Mahomes has won a league MVP and a Super Bowl MVP and led the Chiefs to the championship game each of the past two seasons, with a win over the San Francisco 49ers and a loss last season in Tampa Bay Buccaneeri.
Kansas City hopes that Mahomes will recover from foot surgery in February to participate in the team’s June mini-camp. The expectation is that he will be ready to go to the beginning of the training camp later in the summer.
Adam Teicher of ESPN contributed to the report.