Latest Baker Mayfield Rumors Update Bucs Contract Extension Buzz Amid 2026 NFL Free Agency

With just one year remaining on his current contract, Baker Mayfield and the Tampa Bay Buccaneers are reportedly going to discuss an extension.

Per The Athletic's Jeff Howe, talks between Mayfield and the Bucs are "expected" to happen at some point this offseason.

Mayfield, whose current average annual salary of $33.3 million ranks 16th among all quarterbacks, figures to be in line for a significant raise on his next deal even though there is no set timeline for an extension to get done.

The Bucs originally signed Mayfield to a one-year, $4 million contract as a free agent in March 2023. He was one of the biggest bargains in the NFL that season, throwing for 4,044 yards and 28 touchdowns to help Tampa make the playoffs, defeating the Philadelphia Eagles in the NFC wild card round.

Mayfield parlayed that success into a three-year, $100 million deal with Tampa in March 2024. He has continued to be a bargain at that price relative to his production, which includes 8,193 yards and 67 touchdowns over the past two seasons.

As things currently stand, Mayfield's $33.3 million average annual salary is the second-lowest among all projected starting quarterbacks not on a rookie deal. He ranks ahead of only Malik Willis, who just signed a three-year, $67.5 million contract with the Miami Dolphins as a free agent earlier this month.

Details of what a Mayfield extension might look like are unclear at this point, though CBS Sports' Joel Corry has cited Daniel Jones' $44 million average annual salary from the Indianapolis Colts as a potential starting point for the former No. 1 overall pick.

Howe suggested Mayfield would be "justified" if he asked for either a four-year, $224 million deal or a five-year, $280 million deal, with "at least half fully guaranteed."

Either deal would pay Mayfield $56 million annually, which would rank second only behind Dak Prescott's $60 million annual salary from the Dallas Cowboys.

Even though Bucs general manager Jason Licht spoke last offseason about wanting to work out a new deal with Mayfield, there could be some complicating factors at play.

Among them is the level of investment from Bucs ownership. Howe pointed out the team ranked first in the NFL in cash spending in 2021 and '22 with Tom Brady at quarterback as they were trying to keep their title window open.

Since Brady's retirement, the Bucs haven't ranked higher than 21st in cash spending in any of the past three seasons. They were successful in 2023 and '24, winning the NFC South in both years, but last season marked the first time since 2019 they missed the playoffs.

Howe also noted that Mike Evans leaving to join the San Francisco 49ers in free agency, despite the Bucs offering him more money to stay, could be a sign that a reset may be coming sooner than later.

There are currently 10 quarterbacks making at least $50 million per season. Mayfield has performed better than the contract that he signed two years ago, but the state of Tampa's roster could dictate how aggressive the franchise wants to be in extension talks.

If things don't go the way Mayfield wants, he could play out this season and hit the free-agent market next year. The current crop of quarterbacks who could become free agents next year includes Kyler Murray, Matthew Stafford and Deshaun Watson.