Tamba Hali's contract restructure creates $7 million in cap space for Chiefs

The Kansas City Chiefs worked out a deal to keep Tamba Hali in Kansas City and now CBS Sports Joel Corry has details on what they did to make it happen.

The bottom line for right now is that the Chiefs get $7 million more in salary cap space. That's a sizable chunk and will help the Chiefs this year. The Chiefs could have cut Hali and saved $9 million against the cap before they re-worked it. They have some dead money next year but for 2015 the Chiefs get salary cap relief.

Read this: Tamba's note to Chiefs fans

The Chiefs will need to be under the cap by the start of free agency at 3 p.m. (Arrowhead Time) on Tuesday.

KC gets $7M of cap room with Tamba Hali restructure. 2015 salary goes from $9M to $6M. 4 voidable years added for bonus proration purposes.

— Joel Corry (@corryjoel) March 9, 2015

Hali's 2016-2019 contract years void 5 days after Super Bowl 50. KC will have $4M of dead money in 2016 because of Hali's $5M signing bonus.

— Joel Corry (@corryjoel) March 9, 2015

Tamba Hali can earn back his $3M pay cut through not likely to earned sack incentives.

— Joel Corry (@corryjoel) March 9, 2015