Chiefs may have a big move up their sleeves, thanks to Patrick Mahomes

The Kansas City Chiefs won the Super Bowl for the third time in the past five years. But they have stressed one goal of theirs since taking to the winner's stage in Las Vegas -- accomplishing the three-peat. The thing was, they didn't have much cap space entering the offseason, and pivotal players hitting free agency.

Luckily, the Chiefs were able to prevent star defensive tackle Chris Jones from hitting the open market. Before free agency, the Chiefs gave Jones a five-year, $158.75 million contract, officially making him the highest-paid defensive tackle in NFL history.

While this was a huge win, the Chiefs didn't have much cap space to make any additional moves. Cornerback L'Jarius Sneed was given the franchise tag at $19.8 million for the 2024 season, but the Chiefs could flip him to another team in a sign-and-trade deal. Oh, and the Chiefs could stand to add a wide receiver or two, which was an area of weakness last season.

Well, quarterback Patrick Mahomes stepped up with a huge assist. According to ESPN senior NFL insider Adam Schefter, the Chiefs and Mahomes agreed to a restructured contract, which saves the Chiefs a staggering $21.6 million in cap space.

Chiefs, Patrick Mahomes agree to restructured contract to free up $21.6 million in cap space

This is great news for the Chiefs, and their fanbase must be wondering -- what's next?

With the cap space, the Chiefs could, hypothetically, use it to sign Sneed to a contract extension to ensure that the top pieces of their defense remain for the foreseeable future. This past season, Sneed was a true shutdown corner, allowing just 53 receptions for 545 yards and two touchdowns on 102 targets, per Pro Football Focus.

Then, there's the wide receiver position. The Chiefs released Marquez Valdes-Scantling after the season, further showcasing their need for a wide receiver. There hasn't been too much movement on the wide receiver front in free agency. But Tee Higgins has requested a trade from the Cincinnati Bengals. It's hard to envision the Bengals willingly trading Higgins to a conference rival. But Higgins wants a long-term contract extension, and the Chiefs could give the Bengals draft picks while signing the receiver. Will that happen? Who knows.

What is known is that the Chiefs now have further flexibility to bolster their roster heading into the 2024 season with the goal of becoming the first team in NFL history to win the Super Bowl in three consecutive years.