Baker Mayfield is turning heads in Tampa Bay, and it’s not just because of his swagger on the field. The Tampa Bay Buccaneers quarterback has been on fire this season, posting career-best numbers and leading his team to a strong 3-1 start. He has impressively completed 70.5% of his passes, racked up 984 passing yards, and thrown eight touchdown passes—all in just four games! With stats like that, it’s no wonder the Bucs locked him down with a new deal through 2026. Curious about the details? Let’s break down how Mayfield’s contract sets him up for some serious cash—and why the Bucs might just have hit the jackpot.
All You Need To Know About Baker Mayfield’s Contract Extension
In a significant move during the offseason, Baker Mayfield signed a three-year contract extension with the Tampa Bay Buccaneers, locking him in with the team through 2026. After arriving in Tampa Bay in 2023 on a modest one-year deal, Mayfield exceeded expectations by leading the team to the playoffs, setting career highs, and earning his first Pro Bowl appearance. Tampa Bay recognized his efforts and rewarded him with a contract worth $100 million, including $50 million in guaranteed money.
This deal raises Mayfield’s average annual salary to $33.33 million, putting him in the upper echelon of NFL quarterbacks in terms of earnings. The extension reflects the Buccaneers’ confidence in Mayfield’s ability to be the franchise quarterback moving forward. It’s a significant commitment, but the structure of the deal provides the team with flexibility.
What Will Baker Mayfield’s Guaranteed Amounts Be In 2024 And 2025?
In 2024, Mayfield will earn $30 million, and notably, every dollar of that is fully guaranteed. This is a huge payday for Mayfield, who now has the opportunity to prove his long-term value to the Buccaneers with this guaranteed money. The 2024 season is shaping up to be a crucial one for Mayfield to demonstrate that he’s not just a temporary solution but a long-term franchise cornerstone.
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Looking ahead to 2025, Mayfield is set to earn another $30 million, but only $20 million of that is guaranteed. Essentially, this makes the contract a two-year, $60 million deal, allowing the Buccaneers an out if Mayfield’s performance declines. The team structured the contract cautiously, avoiding a burdensome long-term commitment while still compensating Mayfield generously for his current efforts.
2026: The Big Payday Awaiting
The 2026 season represents a potential windfall for Mayfield. If he continues to play at a high level and proves himself as Tampa Bay’s long-term answer at quarterback, Mayfield is due to earn $40 million in the final year of the deal. Mayfield’s contract includes performance-based incentives worth $5 million per year, adding to the appeal beyond the base salary. These incentives could push the total value of his contract to a maximum of $115 million if he meets certain benchmarks.
This arrangement allows Tampa Bay to avoid overcommitting if Mayfield falters while giving Mayfield a significant opportunity to cash in if he continues performing like a top-tier quarterback. As of now, with Mayfield completing 70.5% of his passes and already throwing eight touchdowns through the first four games of 2024, he’s making a strong case for the full payout.
Comparing Baker Mayfield’s Contract To Other Top NFL Deals
While Mayfield’s new deal is certainly substantial, it doesn’t quite reach the astronomical figures seen by the league’s top quarterbacks. Dallas Cowboys quarterback Dak Prescott leads the NFL in average annual value (AAV) with a historic $60 million per year under his 2024 contract. Prescott became the first player in NFL history to hit this AAV milestone, surpassing Deshaun Watson’s record-breaking $231 million in guaranteed money.
Mayfield’s contract, though impressive, sits in a different tier. His $100 million total contract value and $50 million in guarantees are a step below some of the other elite quarterbacks like Joe Burrow and Justin Herbert, both of whom signed deals exceeding $200 million in guarantees and $50 million per year in AAV. With his $33.33 million AAV, Mayfield positions himself well among the upper-middle tier of NFL quarterbacks. His potential to earn up to $115 million further incentivizes him to continue playing at a high level.
Also Read: Baker Mayfield Exposes How Players On The Tampa Bay Buccaneers Really Felt About Tom Brady
A Bright Future With Flexibility For Both Sides
The structure of Mayfield’s contract creates a win-win situation for both him and the Buccaneers. For Mayfield, he secures a solid two-year payday worth $60 million, with the potential for more if he continues to shine on the field. The 2026 payday—$40 million plus incentives—awaits if Mayfield proves he’s worth the long-term investment. His career-best completion rate (70.5%) and high touchdown tally (eight TDs through Week 4) suggest that he’s on the right path.
Tampa Bay structured the deal with flexibility, allowing the Bucs to opt out after two seasons so they aren’t bound to Mayfield for the long haul if things go south. However, if Mayfield continues performing like a franchise quarterback, the contract lets the team retain him for a third year with a significant but deserved raise.
How Does This Shape Baker Mayfield’s Future?
In short, Mayfield has everything to gain. If he keeps performing at the level he’s showing in 2024, the Buccaneers will happily keep him on board through 2026 and beyond. And with $40 million on the line in 2026, plus the potential for even more through incentives, Mayfield is in a prime position to cement his legacy in Tampa Bay. So far, he’s playing like a quarterback well worth the investment.
For now, all eyes are on Mayfield to see if he can continue delivering in the coming weeks. As long as he keeps putting up career-high numbers, the Bucs and their fans are likely to see this contract as money well spent.
