No new dead money is created by the Chiefs’ Travis Kelce’s new contract.

When the Kansas City Chiefs and their superstar tight end Travis Kelce agreed to a revision of the final two years of his contract on Monday, we only knew the broad strokes of the deal. The contract was reported to be worth $34.25 million over the two years, making Kelce the league’s most highly-paid tight end.

On Thursday, the salary-cap site OverTheCap published contract details it obtained from its own sources. The reported information correct — but as always, the contract’s details have a story to tell.

Kelce was scheduled to receive a $12 million salary in 2024 in addition to a $250,000 workout bonus and a $662,000. roster bonus per game.

In addition, his cap hit included a proration of $2.6 million from contract modifications that freed up cap space in prior seasons. Salary and bonuses totaled $12.9 million, with a $15.5 million cap hit in 2024.

Under the current agreement, his base pay drops to $5.75 million in 2024. A single roster bonus of $11 million takes the place of the per-game bonus.

His 2024 compensation will total $17 million when this incentive is added to his salary and exercise bonus for the upcoming season. At signing, the full sum was guaranteed.

Kelce’s 2024 cap hit is now $19.6 million after receiving a $4.1 million raise for the upcoming season.

Everything is going OK so far. The fascinating part of this deal, though, is that Kelce’s base salary was cut from $16.25 million to $4.5 million in 2025, and he will also receive a single roster bonus of $12.5 million.

He also lost his $750,000 per-game roster bonus for 2025, but his $250,000 workout bonus is still in place. This comes to exactly $17.25 million, which is what Kelce was already projected to make in 2025.

While Kelce’s 2025 pay is currently uncertain, as Sports Illustrated’s Albert Breer revealed on Monday, “most” of the $17.25 million he will make the next season will be guaranteed as of March 1.

Assuming that Breer’s “most” alludes to the $12.5 million roster bonus for 2025 (OverTheCap does not mention this specific aspect of the agreement), this implies that Kansas City would only have dead money left if Kelce decides to retire or the Chiefs decide to part ways with him before the 2025 league season starts.

However, Kelce will receive a guaranteed minimum salary of $12.5 million if he and the Chiefs reach an agreement on his return in 2025. After that, both parties will be released from any further obligations, and the organization won’t have any dead money from Kelce’s contract in 2026.

With 81 players under contract and taking into account all known transactions, our current estimate of Kansas City’s cap space is $15.2 million.

Get more related news at sportviewers.com