Adam Schefter and Ian Rapoport report that the Buccaneers and QB Baker Mayfield have reached agreement on a three-year contract extension Monday.
Schefter says that Mayfield receives a three-year, $165 million contract from Tampa Bay that will pay him $55 million per year.
Mayfield and the Bucs had been in talks for months now, but there wasn’t a lot of optimism that an agreement would be in place before the start of the season.
He had just one year remaining on his current contract and could have been a candidate for the franchise tag next year had they not reached an agreement.
Mayfield, 31, was drafted by the Browns with the No. 1 overall pick out of Oklahoma in 2018. He played out the fourth year of a four-year, $32.68 million rookie deal that included a $21.85 million signing bonus.
The Browns exercised Mayfield’s fifth-year option, which would have cost Cleveland $18.858 million fully guaranteed in 2022. However, Cleveland traded Mayfield to the Panthers in exchange for a conditional 2024 fourth-round draft pick.
Cleveland agreed to cover $10.5 million of Mayfield’s salary, with the Panthers paying out the rest. However, Carolina cut Mayfield during the season, and he was claimed off waivers by the Rams, finishing out his contract in Los Angeles.
Mayfield signed a one-year deal with Tampa Bay worth up to $8.5 million for the 2023 season before signing a three-year, $100 million contract with the Buccaneers in 2024.
Tampa Bay added $30 million in guarantees to Mayfield’s contract for the 2026 season.
In 2025, Mayfield appeared in all 17 games for the Buccaneers and completed 63.2 percent of his pass attempts for 3,693 yards, 26 touchdowns and 11 interceptions, along with 55 carries for 382 yards rushing and another touchdown.
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