Patrick Mahomes is stepping up for the Kansas City Chiefs in a big way. The star quarterback has agreed to a significant pay cut, shaving over $46 million off his salary to give the team some much-needed financial flexibility ahead of free agency. His 2026 salary will now be $34.65 million, down from the original $78.2 million.
Back in September 2023, Mahomes inked a $210 million extension with the Chiefs, making him the highest-paid player in NFL history over a four-year stretch. With three Super Bowl rings under his belt, Mahomes and the Chiefs are eager to make a splash in free agency next month as they aim to reclaim their dominant form.
The 2025 season was a tough one for Kansas City, as they missed the playoffs for the first time since Mahomes became the starter, finishing with a 6-11 record and third in the AFC West. Before that, Mahomes had led the Chiefs to three Lombardi trophies, with their worst performances being a couple of losses in the AFC Championship Game.
This offseason, Mahomes is in rehab after tearing his ACL in a game against the Los Angeles Chargers on December 14th, which sidelined him for the rest of the season. His 2025 stats reflected the struggles, with a career-low completion percentage of 62.7 and an average of 256.2 passing yards per game, the second lowest of his career. He also threw just 22 touchdown passes, the fewest since his debut season in 2017 when he started only one game.
There's buzz about a possible reunion with Tyreek Hill, recently released by the Miami Dolphins. However, some, like NFL pundit Skip Bayless, question if this is the right move, suggesting Mahomes might not be the same player he was a few years ago.
Mahomes’ new contract is a game-changer for the Chiefs. By restructuring his deal, the Chiefs have managed to bring themselves closer to the 2026 salary cap, now sitting just $11 million over the limit. This move could allow them to retain key defensive players like Chris Jones and Trent McDuffie and still have room to add new talent in the upcoming free agency.
Mahomes has shown time and again his willingness to make sacrifices for the team's success. With NFL free agency kicking off on March 11, the Chiefs are poised to make strategic moves, thanks to their quarterback’s financial flexibility.