The Kansas City Chiefs have an obvious Patrick Mahomes move to make after applying the franchise tag to Trey Smith.

Feb 9, 2025; New Orleans, LA, USA; Kansas City Chiefs quarterback Patrick Mahomes (15) walks off the field at the end of the first half of Super Bowl LIX at Caesars Superdome. Mandatory Credit: Geoff Burke-Imagn Images | Geoff Burke-Imagn Images

The Kansas City Chiefs turned heads around the NFL on Thursday with the unexpected news that they were placing the franchise tag on Pro Bowl right guard Trey Smith. He’s now on the hook for $23.5 million in 2025, and general manager Brett Veach needs to get creative in order to make that number work with the cap.

Entering the offseason, the Chiefs were projected to have just north of $5 million in available cap space per OverTheCap. $23.5 million is obviously a lot more than $5, so Kansas City has to figure out how to create the necessary room.

Veach has options with several star players to accomplish that goal, and it seems clear that Patrick Mahomes will be impacted by the required cap gymnastics.

“Quick” Cap Fixes for the #Chiefs

Convert Patrick Mahomes’ roster bonus to signing (+$25.8M)

Convert Chris Jones’ roster bonus to signing (+$12M)

Convert Travis Kelce’s roster bonus to signing (+$10M)

Extend Joe Thuney @ 2 yrs, $40M; $20M bonus (+$10M)

— Spotrac (@spotrac) February 27, 2025

Chiefs Telegraph Patrick Mahomes Contract Restructure With Trey Smith News

Mahomes has restructured his contract before, so this wouldn’t be a groundbreaking move. As Spotrac points out, the Chiefs can free up $25.8 million by converting his roster bonus due on March 14 to a signing bonus. He currently carries a 2025 cap hit of over $66 million, but this move would significantly reduce that number and give Kansas City the flexibility to fit Smith in.

They’d still be hampered overall in free agency, meaning Mahomes likely isn’t the only player who needs to restructure their deal. He sets the tone, though, as the leader of the organization and would be the person to be an example for his teammates.

After falling short in the Super Bowl, the Chiefs have to address a series of needs. That requires money, and it’ll now depend on how much cash owner Clark Hunt is willing to hand out as signing bonuses. Should Kansas City restructure Mahomes, Chris Jones, and Travis Kelce, they’d have an extra $47.5 million to work with.

Here’s hoping Hunt is prepared for what’s to come, because it’s hard to imagine Kansas City making any substantial improvement otherwise.