How Far Will The Bucs Go To Re-Sign Baker Mayfield?

The Bucs and quarterback Baker Mayfield have yet to agree to terms a multi-year contract extension. All signs are pointing toward Mayfield hitting free agency, where interest from multiple teams could drive up his asking price.

Even if Mayfield ultimately wants to re-sign with the Bucs, he will want to maximize the opportunity to cash in with a lucrative, long-term contract after a big career comeback year in Tampa Bay.

Mayfield helped lead the Bucs to a third straight NFC South title with a 9-8 record, followed by a playoff win against the Eagles. He threw for over 4,000 yards for the first time in his career, in addition to a career-high 28 touchdowns.

Mayfield turns 29 in April and could be viewed as the best free agent option at quarterback, especially since Minnesota’s Kirk Cousins is 36, coming off a season-ending Achilles injury and may want a fully guaranteed contract as he’s been accustomed to receiving from the Vikings.

So what type of contract could Mayfield be seeking? Let’s take a look.

Baker Mayfield Has Some Catching Up To Do Financially

The Bucs got Baker Mayfield for a bargain last year, signing the journeyman quarterback to a one-year, prove-it deal worth $4 million. Mayfield reached around $3 million in incentives, but he was still woefully underpaid by NFL starting quarterback standards in 2023.

Half of the league had starters earning $33 million or more, and 26 starting QBs made more than Mayfield did last year. The median salary for NFL starting quarterbacks last year was $29.85 million, so in Mayfield’s mind, he might believe he has some catching up to do. Mayfield earned a total of about $7 million in 2023.

In his next contract, Mayfield might feel the need to recoup the nearly $23 million he didn’t make this past season, as he had to take quite the pay cut from making over $48 million in his first five years to signing an incentive-laden deal with a $4 million base salary in Tampa Bay. Keep in mind that federal and state taxes have likely eaten up close to half of Mayfield’s career earnings, and the former Heisman Trophy winner also reportedly lost $12 million in an investment scheme.

Given the cut in pay he had to undergo in 2023 to have a chance to start again and resuscitate his career in Tampa Bay, and the $12 million he lost in fraud, it’s doubtful Mayfield will be looking to give the Bucs any type of hometown discount.

Mayfield entered the league at age 23 and his earnings window as a starting quarterback could only be open a few more years. In fact, there is a chance that Mayfield’s next contract could be his final shot at a big-money deal. If he signs a four-year contract in March, he will be a free agent again at age 32 if he plays all four years of his deal.

Baker Mayfield Could Fetch Between $30 Million – $38 Million Per Year In Free Agency

Bucs OLB Joe Tryon-Shoyinka and Giants QB Daniel Jones – Photo by: USA Today

Considering Baker Mayfield has had an up-and-down career since entering the NFL as the top draft pick in 2018, he’s not going to be paid among the Top 10 quarterbacks. Not after just one Pro Bowl season, and a Pro Bowl berth that came about due to him being an injury replacement. Top 10 QB money is considered $55 million (Joe Burrow) per year to $40 million (Matthew Stafford, Dak Prescott, Daniel Jones).

Mayfield hasn’t had the level of consistency that Prescott and Stafford, who has won a Super Bowl, have had. And Mayfield has just two playoff wins in his career. But Mayfield has played better than Jones, and could make an argument that if Jones is worth $40 million per year, so is he.

Mayfield can also say that he’s the best QB in the NFC South, and if Derek Carr is making an average of $37.5 million, he should be making at least that much, too.

The Bucs could counter that Mayfield’s career path is akin to Geno Smith’s renaissance in Seattle. Smith signed a three-year deal worth $25 million per year after the 2022 season. And that Mayfield lost to Jared Goff twice last year, and Goff is making $33.5 million and is regarded as a better QB at this stage of their careers.

Mayfield could have several suitors in free agency, including the possibility of Atlanta, Minnesota, New England and others being interested in him. The more bidders there are for Mayfield, the higher his price tag will likely go.

Bucs QB Baker Mayfield – Photo by: USA Today

Tampa Bay has to hope that several of this year’s QB-needy teams will opt to draft one in a rich quarterback draft class instead of getting into the Mayfield sweepstakes in free agency. As many as six quarterbacks could go in the first round, including USC’s Caleb Williams, North Carolina’s Drake Maye, LSU’s Jayden Daniels, Washington’s Michael Penix Jr., Oregon’s Bo Nix and Michigan’s J.J. McCarthy.

The guess here is that the absolute floor for Mayfield will be $30 million per year on a new deal – in Tampa Bay or elsewhere. And he could fetch as much as $38 million per year if he has multiple suitors driving his price up on the free agent market.

That begs two questions.

How high will the Bucs be willing to go to re-sign Mayfield, and where will they draw the line?

And is Mayfield going to put more value on the chance of possibly receiving more money with a bigger contract elsewhere over the familiarity and he comfortability he’s achieved in Tampa Bay?

The post How Far Will The Bucs Go To Re-Sign Baker Mayfield? appeared first on Pewter Report.