Kansas City has better offseason finances than in recent years, but general manager Brett Veach has some work to do to deliver a third consecutive title.
For the first time in years, the Kansas City Chiefs will enter the offseason well under the league’s salary cap.
Using the widely expected $242.5 million 2024 spending ceiling,
Arrowhead Pride calculates that the Chiefs are currently $15.5 million under the salary cap.
A clearer picture will emerge closer to March 13, when the league year begins.:no_upscale()/cdn.vox-cdn.com/uploads/chorus_asset/file/25294894/2007023063.jpg)
While Kansas City will not need to make any changes to comply,
their existing cap space will not go them very far in assembling a group capable of pulling off the first “three-peat” Super Bowl run in league history. The Kansas City Chiefs have 36 pending free agents,
including defensive tackle Chris Jones, a club great. Jones may get a league-leading salary,
either in Kansas Defensive tackle Chris Jones is a franchise legend. Jones may receive a league-leading contract,
either in Kansas City or elsewhere.
The Chiefs would also need to free up more contract space to place the franchise tag on cornerback L’Jarius Sneed, as well as contemplate improving the wide receiver room or pursuing a veteran option at left tackle.
Fortunately, Chiefs general manager Brett Veach has various options for creating more cap space.
For our purposes, restructuring possibilities assume a veteran minimum wage and signing bonuses divided over the remaining seasons of present contracts.
The 2024 veteran minimum wage will be $1.125 million, with a rise to $1.21 million for players with seven or more NFL seasons. All salary information is obtained from Spotrac.
The cut candidates
Most of the Chiefs’ internet general managers are already aware that releasing wide receiver Marquez Valdes-Scantling will free up $12 million in cap space.
While the wideout partially redeemed himself with key playoff performances,
the Chiefs cannot justify bringing him back at his current pay. Releasing him would result in a $2 million dead money charge.
However, previous experiences with wide receiver Sammy Watkins and defensive end Frank Clark.
Should educate us not to rule out Valdes-Scantling’s return. With career lows in receptions (21),
receiving yards (315), and touchdowns (1),
the receiver has an option to accept a pay cut while earning the majority of it back through incentives.
While Veach has made effective use of unearned incentives in negotiating the wage cap
, the existence of Justin Watson — a similar wide receiver signed for a fair $1.5 million deal — may raise the possibility of moving on from Valdes-Scantling.
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