salary cap hell!
The Super Bowl team with arguably the best QB in football, who has already been paid, has $100m more in cap space than us going into 2024 before any restructures. We need to create $100m worth of dead money through restructures just to match their spending capacity, which puts us back in the cycle for 2025. Mahomes is not tremendously underpaid either, his AAV for the rest of his contract (including 2023) is $45m/yr. It's not going to take a big change in their strategy if they need to get him above Burrow next year (>$55m/yr).
Loomis said in an interview that we would do some belt tightening this year, it will be interesting to see if he follows through with it.