Report: Chiefs' Johnson takes pay cut to create $4.25M in cap space

The Kansas City Chiefs and linebacker Derrick Johnson have agreed to a reworked contract that will free up around $4.25 million in salary-cap space in 2017, ESPN's Field Yates reports, citing a league source.

Such adjustments are typically restructures that still earn the player the same amount of money, but it appears that the veteran defender has taken an outright pay cut to help Kansas City get some of its other players on the books.

Johnson was originally scheduled for a $4.75-million base salary and up to $1 million in per-game roster bonuses in the second season of the three-year deal he signed last March. Now, he'll reportedly take only a $1-million signing bonus and a $1-million base salary.

Also taking a pay cut, according to Yates' report, is fullback Anthony Sherman. Kansas City creates another $550,000 in cap space by moving his base salary from $1.55 million to $1.1 million and cutting his $12,500 per-game roster bonuses in half.

Financial flexibility became imperative for the Chiefs following lucrative extensions for safety Eric Berry and guard Laurent Duvernay-Tardif, as well as the recent free-agent signing of defensive tackle Bennie Logan.