It took longer than expected, but the Tampa Bay Buccaneers found a way to work out a deal that brings Baker Mayfield back for another season.
He's actually coming back for three more, to be specific, as Baker and the Bucs agreed to a three-year deal on Sunday that will keep the star quarterback from hitting the free agent market this upcoming week. Things seemed headed in the right direction, despite some anxiety, as the legal tampering period is set to open on Monday afternoon which is when other teams were expected to talk with Baker and potentially try to pry him away from the Bucs.
That won't be happening now, as he'll be getting $100 million from Tampa Bay to see if he can keep building on the success he had last season.
Full Baker Mayfield contract details after re-signing with Buccaneers
According to NFL Network's Ian Rapoport, the Buccaneers and Mayfield are in agreement on a three-year contract worth $100 million. Here's a full breakdown of the new contract and how it will hit Tampa Bay's books:
Year | Salary |
|---|---|
2024 | $30 million (plus $5M in incentives) |
2025 | $30 million (plus $5M in incentives) |
2026 | $40 million |
Last week it was reported that the Buccaneers and Mayfield were roughly $20 million apart on a deal, which was a big gap to close but not unsurprising. Much like the case with Mike Evans, both sides had a number in mind that was arbitrary; it seemed like a third part would need to get involved to figure out fair value.
That had already started to happen, as Mayfield had rumored interest from teams like the Falcons, Patriots, and Vikings and surely would have been entertained by a few others had they been given a chance to talk with him.
Mayfield is set for a $33.3M AAV, which is actually an insanely cheap price given where we all thought the number was headed. Speculation was that Baker was looking for $40 million a year, which was shot down by Rick Stroud last week. Still, the franchise tag value on quarterbacks this year was set at $38.3 million, which means the Bucs got Baker back for less than it would have cost to tag him.
Paying the $50 million in guaranteed money is the kicker here, but it can be looked at as a one-time fee that helps offset the annual hit the contract would have on the books. Mayfield can also earn up to $115 million with incentives, which brings his annual salary up to that franchise tag value.
It's a masterful deal by the Bucs front office, as Baker is back on as team-friendly a deal as we could have hoped but is also getting paid what he's worth. With Baker's deal done, the Bucs have successfully retained the three key pieces of its core set to hit free agency this year, and did it all before the legal tampering window opened.
Grade: A