After weeks of uncertainty surrounding his contract with the Chiefs, wide Sammy Watkins is officially back in the fold.
The Chiefs and Watkins agreed on a restructured one-year deal with a $9 million base salary, a source confirmed Friday morning with The Star. The deal includes an incentive package worth up to $16 million, the source said.
Terez A. Paylor of Yahoo Sports first reported the news.
Before the reworked deal, Watkins was scheduled to make a base salary of $13.7 million and counted $21 million against the cap. The restructured contract provides the Chiefs $5 million in salary-cap space. Earlier in the week, it was reported the Chiefs were a mere $177 under the cap, the lowest amount in the league.
The Chiefs had to get creative since the start of the league's new calendar year to sign players and remain cap-compliant. Earlier in free agency, which began on March 18, the Chiefs converted $5 million of defensive end Frank Clark's base 2020 salary to a signing bonus just to get under the cap.
Now, thanks to the restructuring of Watkins' contract, the team has some much-needed cap room again.
Watkins originally joined the Chiefs in 2018 on a three-year, $48 million contract. Over the past two seasons, he has totaled 92 catches for 1,1192 yards and six touchdowns while appearing in 24 games with 22 starts.
In 14 games last season, Watkins caught 52 passes for 673 yards and three touchdowns. All three TDs came in the season opener at Jacksonville.
During the Chiefs' Super Bowl championship run, Watkins had 14 receptions for 288 yards and a touchdown That TD grab sewed up the Chiefs' 35-24 win over Tennessee in the AFC Championship Game.
Watkins also had a huge catch that set up the Chiefs' go-ahead touchdown in the fourth quarter of Super Bowl LIV.
The Chiefs are officially set now with their top four wide receivers for the 2020 season: Watkins, Tyreek Hill, Mecole Hardman and Demarcus Robinson, who returned on a one-year deal last week.