Baker Mayfield Inks Multi-Year Contract with Buccaneers: Potential Worth Hits $115 Million

The Tampa Bay Buccaneers and quarterback Baker Mayfield have purportedly reached an agreement on a three-year contract, valued at up to $115 million, with $50 million guaranteed.

Mayfield, aged 28, is set to receive $30 million in both 2024 and 2025, with $20 million guaranteed in the second year of the contract. His earnings are expected to rise to $40 million in 2026.

Last season, Mayfield signed a one-year contract after stints with four different teams over the preceding three seasons. 

During this time, he guided the Tampa Bay Buccaneers to a third consecutive NFC South title.

As the first overall draft pick in 2018 and a recipient of the Heisman Trophy, Mayfield delivered an impressive performance last year, achieving career highs with 4,044 passing yards and 28 touchdowns.

Baker Mayfield Joins Evans in Contract Extension

Just two days following Buccaneers wide receiver Mike Evans’ signing of a two-year, $52 million contract extension, Mayfield also reached an agreement on his contract. 

Both players opted against exploring free agency, reflecting the significant impact of Tampa Bay’s burgeoning culture of success.

At 30 years old, Evans holds the distinction of being the first player in NFL history to commence their career with ten consecutive seasons of at least 1,000 receiving yards. 

His decision to remain with the team serves as a crucial initial stride towards maintaining continuity within the roster.

Buccaneers’ Flexibility with Mayfield Deal

This agreement is also beneficial for Jason Licht and the Buccaneers. 

The team can opt out of the contract after two years, so there is no long-term commitment, and in either scenario, Mayfield would be more cost-effective than a franchise tag of $38 million. 

By incorporating void years, Mayfield’s cap hit for this year could potentially drop to as low as $7 million. 

This would provide the Bucs with the flexibility to pursue additional free agency acquisitions to bolster depth and potentially add key pieces to the team.

Ultimately, both parties benefited from the outcome. 

Mayfield was the final significant piece to join the Bucs, and now he has an opportunity to showcase his value while Tampa Bay can keep him at a favorable price.