The Tampa Bay Buccaneers made a surprise move on Tuesday, signing 2-time Pro Bowl quarterback Baker Mayfield to a 3-year, $165 million contract extension following an offseason of testy, back-and-forth negotiations.
“The Bucs and Baker Mayfield agreed to terms on a three-year contract extension,” The Ringer and Netflix’s Tom Pelissero wrote on his official X account. “The sides recently re-engaged and Mayfield is now signed through 2029.”
Mayfield originally came to the Buccaneers on a 1-year, $4 million “prove-it contract” in 2023 and was entering the final season of a 3-year, $100 million contract signed before the 2024 season.
“ESPN sources: two-time Pro-Bowl selection Baker Mayfield and the Buccaneers reached agreement today on a three-year contract extension that will prevent the quarterback from becoming a free agent after this season,” ESPN’s Adam Schefter wrote on his official X account on Tuesday. “Mayfield had broken off talks as camp opened, but with the regular season kicking off this week, a deal has been revisited and now struck.”
“This is easily the largest contract in Bucs history,” Fox Sports NFL reporter Greg Auman wrote on his official X account. “And if Mayfield stays healthy, he’ll have all of the franchise’s career passing records by then as well.”
“A surprise: Buccaneers QB Baker Mayfield and the team have agreed to a three-year contract,” NFL Network’s Mike Garafolo wrote on his official X account. “Talks quietly rekindled recently. Deal done. Contract year no more.”
Mayfield’s new contract puts him at $55 million per year in terms of average annual salary — making him tied for the 3rd-highest-paid quarterback in the NFL alongside Joe Burrow, Josh Allen, Jordan Love, Trevor Lawrence, and reigning NFL MVP Matthew Stafford.
Bucs Had Franchise Tag Option for Mayfield
One thing many had not considered was that the Buccaneers had another option for Mayfield — call it the nuclear option — which would have been placing him on a franchise tag for 2027, which would have paid him approximately $47 million for 1 season.
The Buccaneers are Mayfield’s 4th team. He was the No. 1 overall pick in the 2018 NFL Draft by the Cleveland Browns before spending the 2022 season split between the Carolina Panthers and Los Angeles Rams before landing with the Buccaneers in 2023.
“While Mayfield would prefer a long-term deal, he’s not afraid of the franchise tag, which would cost Tampa Bay at least $47M in 2027,” ESPN’s Jeremy Fowler wrote on his official X account on July 26.
Bucs Coming Off Disappointing 2025 Season
The Buccaneers started the 2025 season with a 6-2 record before stumbling to an 8-9 finish and missing the playoffs for the 1st time since 2019.
Mayfield seemed injured for most of the 2nd half of the season — something the Buccaneers mostly denied at the time. He finally disclosed the variety of injuries he was playing with while appearing on the Netflix documentary series Quarterback.
To anyone watching Mayfield play for most of the season, it was obvious he was hurt.
“Bucs QB Baker Mayfield, on the Netflix series Quarterback, reveals he played with a sprained MCL and PCL since Week 2,” Tampa Bay Times NFL reporter Rick Stroud wrote on his official X account on Monday. “He also had a bad biceps contusion that was bruised and affected his velocity. Then the left shoulder injury vs. Rams. Bonus for toughness but it affected his play.”
Bucs Sign QB Baker Mayfield to Massive Contract Extension