The clock is ticking for the Tampa Bay Buccaneers to sign quarterback Baker Mayfield to a contract extension. Mayfield set a deadline of the start of training camp to get a deal done in early June when he indicated that the two sides weren't anywhere close on a new contract. Mayfield also said he would end contract talks once Buccaneers veterans report to training camp on July 28.
NFL Network insider Mike Garafolo reported on July 6 that the Buccaneers aren't in a rush to do a deal. He also speculated that it could be subject to change as the start of training camp approaches.
Mayfield reiterated his desire to remain in Tampa during an interview with an Oklahoma City, Oklahoma, television station while conducting a football camp at the University of Oklahoma a couple of weeks ago. He suggested that both sides want to reach an agreement, but the key would be finding a middle ground to make both sides happy.
Mayfield is entering the final year of a three-year, $100 million contract averaging $33,333,333 per year, worth up to $115 million with incentives he signed in March 2024. He is making $40 million in 2026, consisting of a $10 million base salary and a $30 million 10th-day-of-the-league-year roster bonus. Mayfield's 2026 salary cap number is $39.975 million, which includes $1 million of the $5 million in 2026 incentives being classified as likely to be earned.
Since the $30 million roster bonus became a sunk salary cap cost on March 20, converting the remaining $17 million that wasn't prorated in a 2025 contract restructure into a signing bonus and prorating to help lower Mayfield's 2026 cap number in a new deal isn't permissible. The entire $30 million was paid to Mayfield on June 15.
Reading between the lines, the not-anywhere-close Mayfield was referring to may have been prompted by Tampa Bay initially making what was perceived as a low-ball offer. Mayfield's camp likely views Daniel Jones' deal as a starting point for any serious discussions. Mayfield has been more consistent and productive than Jones, who was having a surprising career resurrection before tearing his right Achilles in a Week 14 loss to the Jacksonville Jaguars last season.
Daniel Jones, who was designated as a transition player for $37.833 million, received a two-year, $88 million deal averaging $44 million per year from the Indianapolis Colts in March despite the injury. The deal is worth up to $100 million, thanks to $6 million in annual incentives. There are $60 million in guarantees, where $49.49 million is fully guaranteed at signing.
Mayfield probably feels he should join the $50 million per year club with his next deal. There are currently 13 players making $50 million or more, consisting of 12 quarterbacks and Houston Texans edge rusher Will Anderson Jr., who is the NFL's highest-paid non-quarterback with the three-year, $150 million contract extension averaging $50 million per year he signed in April.
It wouldn't be surprising if Mayfield's camp viewed Brock Purdy's May 2025 deal with the San Francisco 49ers as an important data point. Purdy signed a five-year, $265 million extension with $182.55 million in guarantees, of which $100 million was fully guaranteed at signing. He is the league's ninth-highest-paid player at $53 million per year.
Mayfield surely took Patrick Mahomes' recent renegotiated contract with the Kansas City Chiefs, worth $504.75 million over eight years, as an indication of changing quarterback-market conditions and as further justification for his contract demands. At $63,093,750 per year, Mahomes is the NFL's highest-paid player. The deal is worth as much as $522.25 million thanks to base salary escalators and incentives.
Mayfield is the NFL's 16th-highest-paid quarterback at $33,333,333 per year. He is the 30th-highest-paid player when factoring in all positions.
Mayfield and the Buccaneers both having disappointing 2025 seasons don't help his case. The Buccaneers were on track for a fifth straight NFC South crown with a 6-2 record heading into a Week 9 bye, while Mayfield was an early-season MVP candidate.
Things went downhill after the bye. The Buccaneers finished the season 2-7 to miss the playoffs for the first time since 2019, with an 8-9 record. Mayfield's play tailed off. A fairly significant injury to his non-throwing left shoulder against the Los Angeles Rams in Week 12 can be considered a mitigating factor.
Overall, Mayfield had the worst of his three seasons with the Buccaneers. He had lows in completion percentage (63.2%), passing yards (3,693), touchdown passes (26) and passer rating (90.6) since becoming a Buccaneer.
One way to try to help find middle ground between Mayfield and the Buccaneers could be to look at the average contract value of 2026 starting quarterbacks. Starters on rookie contracts are excluded because their salaries are strictly determined by draft position under the rookie wage scale.
There are 23 projected starting quarterbacks on veteran contracts, assuming Kirk Cousins, Kyler Murray, Tua Tagovailoa and Deshaun Watson are in the opening day lineup for the Las Vegas Raiders, Minnesota Vikings, Atlanta Falcons and Cleveland Browns. Collectively, these quarterbacks are signed to deals worth $3,808,565,000 over 80 contract years, averaging $47,607,063 per year.
With a couple of exceptions (Josh Allen, Mahomes and Watson), the contracts were valued based on new money and new contract years, which is how professionals in the industry (agents and team negotiators) typically view deals. This wasn't applicable in these cases because of the number of contract years remaining at the time of signing. The total contract value and total years were used instead.
The number increases to $49,510,417 per year when focusing on clear-cut starters under veteran contracts, excluding the four quarterbacks. It's $3,564,750,000 collectively with 72 contract years.
The number further increases to $51,621,324 per year if older bridge quarterbacks, such as Jacoby Brissett, Aaron Rodgers and Geno Smith, are eliminated from consideration. The 16 remaining quarterbacks collectively have deals for $3,510,250,000 over 68 contract years.
The range for the middle ground using this approach would be $47.5 million to $51.75 million per year. There are already three fake or dummy years (2027, 2028 and 2029) in Mayfield's contract. By converting these dummy years into real contract years, Mayfield would have between $65 million and $72.5 million fully guaranteed at signing. This would be the total cash through 2027 minus the $30 million March roster bonus that has already been paid. The overall guarantees would be between $107.5 million and $117.5 million, the cash through 2028, excluding the roster bonus money.
The Buccaneers balking at a new deal in this range would potentially make Mayfield an unrestricted free agent in 2027. Mayfield, having an average year since he joined the Buccaneers in 2026, would make him a prime candidate for a franchise tag next year. In Mayfield's three seasons with Tampa Bay, he has averaged (rounded to the nearest whole number) completing 66.3% of his passes for 4,079 yards, with 32 touchdowns and 12 interceptions, for a 97.4 passer rating.
The voiding date for three dummy years in Mayfield's contract is a day before the 15 day window to designate franchise and transition players in 2027 opens next February 17. It will cost Tampa Bay at least $46.77 million to put a franchise tag on Mayfield in 2027, given how the 120% of prior year's salary provisions operate for these purposes, should he play out his contract and have a bounce-back season. The likely-to-be-earned incentives aren't part of the calculation. The 2026 incentives from Mayfield's existing contract would carry over, with any earned in 2026 constituting an additional cap charge.
Mayfield's actual franchise number could be higher depending on the calculations from the franchise tag formula, which is primarily based on the average of the top five salaries at a player's position. This figure can't be accurately estimated at this time without a realistic projection of the 2027 salary cap.
Regardless, the average of two franchise tags in 2027 and 2028 wouldn't be any lower than $51.447 million per year. This number is in line with the higher end of the middle ground range.
Patience could be Mayfield's best friend if his situation results in a franchise tag next year. Mayfield's best deal would probably come by waiting for the quarterback market to further develop.
There could be a massive shift in the marketplace. Lamar Jackson will be in a contract year in 2027. As 2024 draft picks, Jayden Daniels, Drake Maye, Caleb Williams and Bo Nix will be eligible for contract extensions. At least one of the five should reset the quarterback market by eclipsing Mahomes' recent deal, averaging $63,093,750 per year.
Mayfield could be the beneficiary under the premise that a rising tide lifts all boats. He might be more inclined to drive a hard bargain rather than find middle ground after having to incur the risk of injury and poor performance during the 2026 season while playing out his contract.
