After trading for DeAndre Hopkins earlier this week, the Chiefs adjusted their salary cap. Per Field Yates of ESPN, the Chiefs have created $5.3 million of cap space in 2024. Taylor made the most sense with his high yearly salary of $19.5 million.
The Chiefs took around $8 million still left on Taylor’s salary for 2024 and paid it out in a bonus to create the space. It’s a simple move that accelerated the timeline for when he would receive the money, but it changes how it affects the Chiefs salary cap.
The Hopkins trade was reported to cost the Chiefs $3.2 million for the rest of the year, and before they made the trade, they had about $4.1 million left. If all of that is correct, the Chiefs should have a little over $6 million in cap space left for 2024.
I’ll update this as more information becomes available.