Patrick Mahomes’ 2026 pay drop explained: Inside the Chiefs’ massive contract move

Kansas City Chiefs quarterback Patrick Mahomes is reportedly in line for a dramatic pay adjustment in 2026. A major contract restructure is said to reduce his salary by nearly $35 million after $54.45 million is converted into a signing bonus.

The three-time Super Bowl MVP, who was the top-paid player in the National Football League (NFL) in 2025 and pocketed $50 million in football earnings according to Forbes, would see his 2026 cap hit drop from $78.2 million to $34.65 million.

© Kevin Sabitus

And while the move lowers the number on paper next season, Mahomes could be set up for a major swing the following year. As Patrick, 30, signed a 10-year deal with the Kansas City Chiefs, which Forbes values at $450 million, he is also gearing up for a significant jump in 2027, when his cap figure is projected to rise to more than $85 million.

Last August, meanwhile, the star admitted he was doubtful when his teammate Travis Kelce told him he was dating pop megastar Taylor Swift, both 36. Speaking in the ESPN docuseries The Kingdom, Mahomes recalled, “He told me during the week. It was one of those where I gotta see it until I believe it.”

© Getty

Travis and Taylor’s relationship went public when the “Cruel Summer” singer attended the Chiefs’ Arrowhead Stadium for the NFL clash against the Chicago Bears, and Mahomes said you could feel the energy shift in the building. “You definitely felt the buzz, and you could see people in the stadium gravitating towards where she was up there,” he said. “At the same time, we had business to handle.”

© Cindy Ord/MG23

Meanwhile, Patrick, who has been married to Kansas City Current co-founder Brittany Mahomes, 30, since 2022, previously credited Taylor for pushing the franchise into a new level of visibility. He told Time magazine, “[The Chiefs] went from a nationwide team that was kind of global to a full global worldwide team. That came from Taylor’s fanbase.”

He also praised her work ethic after meeting her, saying, “I’ve met a lot of famous people now in my life. Taylor’s probably the most down-to-earth person that’s been on that stage for that long. She’s never not working. Even when she’s taking her downtime, she’s working on something. Shooting a music video or singing a song, or writing a song. You can see it by how she talks.”