Sources: Buccaneers, Baker Mayfield agree on 3-year, $100M deal

The Tampa Bay Buccaneers and quarterback Baker Mayfield have agreed to a three-year deal worth a total of $100 million and $50 million guaranteed, sources told ESPN on Sunday.

Mayfield is set to make $30 million guaranteed in 2024, $30 million (with $20 million guaranteed) in 2025 and $40 million in 2026, according to ESPN's Adam Schefter. There is $5 million per year in incentives, bringing the maximum contract value to $115 million.

Mayfield confirmed the deal in a statement to Schefter.

“I wanted a chance to come back,” Mayfield said. “I love the coach [Todd] Bowles and staff. I'm happy to be here and I want to win more in the playoffs. »

Mayfield signed a one-year, $4 million contract with the Buccaneers in March 2023, giving him the monumental task of replacing seven-time Super Bowl winner Tom Brady.

Mayfield led the Bucs to impressive road wins over the Minnesota Vikings in Week 1 and the New Orleans Saints in Week 4. But this is what he managed to do late in the season – leading the Bucs to victories in five of the last six games – which dramatically changed his team's fortunes and revived his career.

First came a 29-25 comeback victory over the Atlanta Falcons in Week 14 in which Mayfield connected with tight end Cade Otton for an 11-yard touchdown with 36 seconds remaining . Then, in Week 15, Mayfield became the first opposing quarterback in NFL history to post a perfect 158.3 passer rating at Lambeau Field when the Bucs beat the Green Bay Packers 34- 20. In this game, he totaled 381 yards and four touchdowns. He followed that up with a two-touchdown performance in a 30-12 win over the Jacksonville Jaguars in Week 16.

Mayfield's 28 touchdowns during the regular season ranked seventh in the league and were a career best for him. His 2.8 touchdown-interception ratio is tied with San Francisco 49ers quarterback Brock Purdy for ninth in the league. His 4,044 passing yards also ranked ninth, and the most in a single season in Mayfield's career. He also posted a career-best completion percentage of 64.3.

In the playoff round, Mayfield threw for 337 yards and three touchdowns in a 32-9 rout of the Philadelphia Eagles. The following week in the Divisional Round, Mayfield had 349 passing yards, three touchdowns and two interceptions in a 31–23 loss to the Detroit Lions. Mayfield's 106.3 passer rating in those two playoff games was the highest of any Buccaneers quarterback in playoff history. His 3.0 touchdown-interception ratio in the postseason also matched Brady's during his tenure with the Buccaneers.

The first overall draft pick in 2018, Mayfield led the Cleveland Browns to their first playoff victory in 26 years after the 2020 season. But he was traded to the Carolina Panthers in July 2022, after the Browns acquired Deshaun Watson. The Panthers waived Mayfield after a 1-5 record as a starter in 2022, and he spent five games with the Los Angeles Rams.

Mayfield's agent, Tom Mills, said in a statement to ESPN's Jenna Laine that after his client was waived by the Panthers, “he never complained and always believed in himself. This contract is the result of this attitude, as well as his abilities. He, [his wife] Emily and I are grateful to the Buccaneers for giving him the opportunity to continue his career.”

In addition to his on-field efforts this season, Mayfield and his wife established the Baker and Emily Mayfield Foundation in Tampa to “level the playing field” for underprivileged children and families, with events supporting the Early Learning Coalition of Hillsborough County and the Boys & Girls Club of Tampa Bay.

Mayfield, 28, has totaled 20,322 passing yards with 130 touchdowns and 74 interceptions in his career.

ESPN's Jeremy Fowler contributed to this report.