A look at the finances for the Kansas City Chiefs shows them going all-in on this year’s journey to try to play in the team’s fourth Super Bowl in five years.
The Chiefs have used up virtually all of their salary cap this year. Spotrac shows the team with only $4.18 million in cap space, and OverTheCap.com estimates the team has just $3.09 million of breathing room this season.
Quarterback Patrick Mahomes, a two-time NFL Most Valuable Player, is the Chiefs highest-paid player in 2023, accounting for about $59.35 million in cash with a cap hit of $37.13 million.
That cap amount bumps up to $57.36 million in 2024, making Mahomes the league’s third-highest-paid quarterback behind the Cleveland Browns’ Deshaun Watson ($63.98 million) and the Dallas Cowboys’ Dak Prescott ($59.46 million).
After Mahomes, the highest-paid Chiefs include right tackle Jawaan Taylor, $20 million in cash and $5.83 million in cap; defensive tackle Chris Jones, $18.42 million in cash, $26.81 million in cap; guard Joe Thuney, $15.5 million in cash, $13.42 million in cap; and tight end Travis Kelce, $12.25 million in cash, $14.8 million in cap.
But the Chiefs’ financial decisions regarding player salaries come with some serious issues the team must resolve in the offseason.
The good news: The Chiefs are estimated to have about $51.66 million in cap space in 2024, according to OverTheCap.com, ranking the team 15th in the 32-franchise league. The bad news: The Chiefs have 24 of 53 players on their active roster eligible for free agency next season.
Read more in the Kansas City Business Journal.