The Tampa Bay Buccaneers still have significant work to do on the defensive side heading into the 2026 NFL Draft, and general manager Jason Licht has already taken steps to address those needs in free agency. However, there’s another priority emerging—locking down long-term stability at quarterback, a position the organization is now looking to solidify for the future.
Jason Licht committed to Baker Mayfield with a three-year, $100 million deal ahead of the 2024 season—a move that paid off immediately as Mayfield threw for more than 40 touchdowns. He carried that momentum into early 2025 and even entered the MVP conversation, but a late-season collapse—where the Tampa Bay Buccaneers won just two of their final nine games—coincided with a sharp decline in his play, to the point he performed like one of the league’s least effective quarterbacks. Injuries likely played a role in that downturn, but it still raises a legitimate question for Tampa Bay: commit to an extension now, or allow Mayfield to play out the final year of his deal in 2026.
Mayfield has arguably outperformed his current contract, which ranks just 16th among NFL quarterbacks despite his recent production. Speaking at the NFL Owners Meeting in Arizona on Tuesday, Jason Licht made his stance clear—the Tampa Bay Buccaneers intend to secure Mayfield as their long-term answer under center.
Licht Aims to Lock In Baker Mayfield With Extension
Jason Licht and Baker Mayfield are expected to explore a contract extension this offseason, according to Rob Maaddi of the AP. While there’s no firm timeline for a deal to be completed, Licht spoke highly of Mayfield when discussing the possibility of a new contract, reinforcing the organization’s confidence in him moving forward.
“Baker is still our quarterback. He’s one of the toughest guys on the team,” Licht stated. “He’s a great leader. Everything kind of revolves around the quarterback spot. At some point, I’m sure we’ll figure something out. There’s no timetable on that.”
There’s a case to be made for both sides letting Baker Mayfield play out his current deal. The Tampa Bay Buccaneers would get another full season to evaluate him after last year’s late decline, while Mayfield could position himself for a significantly larger payday with strong play. However, the risk leans heavier on Mayfield—another down season could seriously damage his market value, which opens the door to the possibility of a training camp holdout as he pushes to secure a new deal sooner rather than later.
Licht does not believe Baker Mayfield would take that approach.
“Baker is a true pro. Baker has never let us down. I’m not going to deal with hypotheticals. We love Baker,” Licht stated via the Associated Press.
What Would A Mayfield Extension Cost?
The key question centers on the price tag, and the benchmark is clear: $50 million per year. Only 10 NFL quarterbacks have reached that threshold, and Baker Mayfield isn’t currently close, averaging just over $33 million annually on his deal. It’s widely expected that his next contract will surpass $50 million—but by how much remains the real debate.
Even at $50 million, Mayfield would still sit near the bottom of that top tier, just behind Jalen Hurts. A bump to $52 million would place him alongside Justin Herbert and Lamar Jackson, while $53 million would align him with Jared Goff and Brock Purdy. The next tier jumps to $55 million annually, where Trevor Lawrence, Jordan Love, Josh Allen, and Joe Burrow reside, with Dak Prescott alone at the top at $60 million per year.
Obviously, Mayfield would aim to reset the market and become the highest-paid player in NFL history. But that outcome may be unrealistic—especially coming off last season’s late decline. Spotrac currently projects his market value at $53.6 million annually, which would place him in a tie with Jared Goff and Brock Purdy around sixth in the league.
Committing to a massive extension carries some risk for Jason Licht and head coach Todd Bowles, particularly if the Tampa Bay Buccaneers take a step back next season. Still, the mutual interest is clear—both sides value the partnership and appear motivated to get a deal done sooner rather than later.
The BR Rub
We get it, $50 million is a lot of coin. But, as stated, that would still put Mayfield at the bottom of the top tier in quarterback pay.
The question becomes, was last year an anomaly for Mayfield. Even with 2025 being Mayfield’s worst season statistically in Tampa, he still threw for over 3,000 yards and 32 touchdowns.
The reality is, over three seasons in Tampa, Mayfield averages roughly 4,000 yards, 32 touchdowns and 12 interceptions. What upcoming agent or draft pick are putting up those kind of numbers?
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