Patrick Mahomes’s paycheck is taking a big hit.

The Kansas City Chiefs quarterback is set to take home a significantly lower salary during the 2026-2027 NFL season, but the new figure isn’t exactly a traditional pay cut.

Indeed, the three-time Super Bowl MVP—who was the highest-paid player in the league in 2025 with $50 million in football earnings, according to Forbes—will see $54.45 million of his salary converted to a signing bonus, lowering his 2026 cap from $78.2 million to $34.65 million, multiple outlets confirmed.

The move will give the Chiefs greater financial flexibility going into the offseason, opening up $43.56 million in cap space, per the reporting. But given Patrick’s 10-year deal with the team—which Forbes has valued at $450 million—the athlete’s salary cap is set to balloon to over $85 million for 2027.

E! News has reached out to Patrick’s rep for comment.