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Chiefs gain $4 million in cap room with Rod Streater contract adjustment

Kansas City Chiefs wide receiver Rod Streater warmed up with pass drills before Saturday’s preseason football game against the Seattle Seahawks.
Kansas City Chiefs wide receiver Rod Streater warmed up with pass drills before Saturday’s preseason football game against the Seattle Seahawks. jsleezer@kcstar.com

The Chiefs had a little over $3 million in cap space on Wednesday, according to the NFL Players Association, which was a sharp contrast from previous days, where the number was around negative-$900,000.

So what happened? It appears there’s been an adjustment to wide receiver Rod Streater’s contract. Streater’s cap number dropped from $4.8 million to $810,000 due to a restructure of contract’s incentives that was filed in early August.

The renegotiation created cap room because Streater’s incentives — which were for things like receiving yards, touchdowns and receptions and total $4 million — were restructured to go from being likely-to-be-earned (and thus, counting against the cap) to not-like-to-be-earned (and thus, not counting against the cap).

It is unclear why the change occurred — the Chiefs don’t comment publicly on business matters — but the Chiefs now find themselves with an adequate amount of cap room to play with as the season draws near.

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