Chiefs restructure 2 major contracts to create significantly more salary cap space just hours ahead of new league year

This was an expected action from the Chiefs, especially after the multiple free agency moves that they made earlier in the week. The restructures of Mahomes and Jones' contracts now have Kansas City roughly $7.4 million under the cap.

All contracts agreed to during the legal tampering period become official at the beginning of the new league year, which starts Wednesday at 3:00 CT. All 32 NFL teams must be salary cap compliant by that deadline, meaning the top 51 contracts on the Chiefs' 90-man offseason roster and all other clubs must not go over the $279.2M salary cap number for 2025.

Among the free agents that the Chiefs have agreed to terms with are left tackle Jaylon Moore, running back Elijah Mitchell, and cornerback Kristian Fulton. Not to be forgotten are the negotiations between K.C. and right guard Trey Smith, who signed his 2025 franchise tag earlier this week. 

They will continue to work toward a long-term deal, or could explore a trade if the two sides are unable to come to an agreement on terms. Regardless of how it shakes out, it will have an impact on the Chiefs' salary cap. If Smith plays on the franchise tag in 2025, he will earn $23.4 million.

The Chiefs have filled a lot of roster holes already, and may not continue to add until the second wave of free agency. GM Brett Veach has a knack for finding under-the-radar free agents once the top ones have been signed. K.C. currently holds eight picks in the 2025 NFL Draft, including four in the top-100.