Baker Mayfield has the opportunity to parlay the most successful season of his career into a significant payday when NFL free agency gets underway.
The Tampa Bay Buccaneers would prefer to re-sign Mayfield, especially after inking All-Pro wide receiver Mike Evans to a two-year contract. However, if the Buccaneers can’t get a deal done before free agency opens on March 13, Mayfield may prove to be one of the most coveted quarterbacks available.
As the Buccaneers’ exclusive window to negotiate with Mayfield ticks closer to closing, former NFL agent and current CBS Sports analyst Joel Corry projects a major raise this offseason for the former No. 1 overall draft pick.
“Mayfield had the best contract year of anyone in 2023,” Corry points out for CBS. “He took a modest one-year, $4 million “prove it” deal worth up to $8.5 million through incentives from the Tampa Bay Buccaneers to compete with Kyle Trask to replace Tom Brady as starting quarterback. Mayfield never looked back after winning a training camp battle with Trask.
“The structure of Mayfield’s $40 million-per-year target price is based on quarterback Ryan Tannehill’s expiring contract with the Tennessee Titans. Tannehill signed a four-year, $118 million deal with $91 million of guarantees where $62 million was fully guaranteed at signing in 2020.”
Whether Mayfield winds up returning to Tampa Bay, inks a deal with the Buccaneers after free agency opens, or hits the open market, Corry expects the 28-year-old to ultimately walk away with a four-year contract worth $160 million that includes $122.5 million guaranteed and $85 million fully guaranteed at signing.
The #Falcons, in a lot of ways, control the quarterback market this offseason.
From my appearance on @VSiNLive. #NFL #NFLNews pic.twitter.com/DSau93BWS2
— Matt Lombardo 🏈 (@MattLombardoNFL) March 7, 2024
Buccaneers Could Have Competition to Sign Baker Mayfield
If the Buccaneers aren’t able to reach a pact with Baker Mayfield before free agency, he’ll become one of the most coveted free-agent quarterbacks.
Mayfield completed 64.3 percent of his passes during the 2023 campaign, for a career-high 4,044 yards with 28 touchdowns to 10 interceptions en route to leading the Buccaneers to an NFC South Division championship and a playoff victory.
As I previously reported in my role as Senior NFL Reporter at FanBuzz, the Atlanta Falcons have shown significant interest in signing Mayfield if he hits free agency.
General manager Jason Licht and the Buccaneers do have the resources to sign Mayfield but may need to get creative to fit a new deal under the cap.
Even after the Evans contract, the Buccaneers still have upwards of $22.4 million in total cap space in 2024, and $136 million in 2025. That’s plenty of spending flexibility to backload a Mayfield contract, still bring a veteran leader such as linebacker LaVonte David back, and sign this year’s draft class with little issue.
