As recently as Labor Day weekend, Baker Mayfield was expected to play the 2026 season on the final year of his contract.
That changed Tuesday when Mayfield and the Tampa Bay Buccaneers agreed to a three-year extension reportedly worth $165 million. The agreement eliminates the possibility of Mayfield entering free agency after the season and gives Tampa Bay long-term stability at quarterback.
The deal also came together much later than expected. According to ESPN’s Jenna Laine, the Buccaneers and Mayfield had stopped negotiating before training camp began.
Negotiations Restarted Over the Weekend
The two sides apparently needed some time apart before finding a path toward an agreement.
“Mayfield and the Bucs had broken off talks just before the start of training camp, and they had not begun speaking again until this past weekend,” Laine wrote.
Tampa Bay believed its original proposal was competitive. The Buccaneers had reportedly offered Mayfield a two-year extension worth $50 million per season.
Mayfield and his agent, Tom Mills, saw things differently. The proposed salary would have placed Mayfield 13th among NFL quarterbacks, which wasn’t enough for his camp.
“The Bucs had felt their offer of two years and $50M was competitive and not far off, sources had told ESPN’s Jeremy Fowler,” Laine wrote. “But Mayfield and his agent Tom Mills still felt the deal was light, as it would have ranked him 13th in salary among NFL quarterbacks. The new deal averages $55M per season, tied for third-highest in the league.”
That decision ultimately worked in Mayfield’s favor. The new agreement reportedly raises his average salary to $55 million annually, putting him near the very top of the quarterback market.
Mayfield Was Thinking Beyond 2026
Mayfield’s camp also had another reason to remain patient.
Several prominent quarterbacks are expected to pursue new contracts, including C.J. Stroud, Lamar Jackson, Caleb Williams, Drake Maye and Bo Nix. The NFL salary cap is also expected to rise, potentially pushing quarterback salaries even higher.
According to Laine, Mayfield’s decision was made with those developments in mind.
“According to sources familiar with the thinking of the quarterback and his representative, Mayfield’s refusal at the previous offer was done with an eye on the future, as several top signal-callers are in line for new deals, including C.J. Stroud, Lamar Jackson, Caleb Williams, Drake Maye and Bo Nix,” Laine added. “Plus, the NFL salary cap is expected to rise in the coming year.”
Mayfield ultimately secured the kind of contract he believed his performance warranted. Tampa Bay, meanwhile, avoided the possibility of watching its starting quarterback reach free agency after the season.
Tampa Bay Keeps Its Quarterback
Mayfield joined the Buccaneers in March 2023 before signing a three-year contract with the team the following March.
He delivered two NFC South titles and a playoff victory during his first two seasons in Tampa Bay. His third season became more difficult after he suffered an injury to his non-throwing shoulder during Week 12.
The Buccaneers eventually collapsed from 6-2 to 8-9 and missed the playoffs. That disappointing finish made Mayfield’s future one of the biggest questions surrounding Tampa Bay entering the offseason.
That question has now been answered.
Mayfield gets his long-term security, while the Buccaneers retain a quarterback they believe can lead the franchise. With the contract negotiations finally behind them, Mayfield and Tampa Bay can turn their attention toward Sunday’s season opener against the Cincinnati Bengals.
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