Buccaneers Restructuring QB Baker Mayfield For $14.4M In Cap Savings

Aaron Wilson of KPRC 2 reports the Buccaneers are restructuring QB Baker Mayfield‘s contract for $14.4 million in cap savings.

Wilson adds Tampa Bay is converting his $30 million base salary to a roster bonus to bring it down to $2 million for 2025 while adding $10 million in total guarantees. The restructure will add a void year in 2029 for salary cap purposes, and Mayfield will still have two years remaining on the deal.

Mayfield, 29, was drafted by the Browns with the No. 1 overall pick out of Oklahoma in 2018. He played out the fourth year of a four-year, $32.68 million rookie deal that included a $21.85 million signing bonus. 

The Browns exercised Mayfield’s fifth-year option which would have cost Cleveland $18.858 million fully guaranteed in 2022. However, Cleveland traded Mayfield to the Panthers in exchange for a conditional 2024 fourth-round draft pick. 

Cleveland agreed to cover $10.5 million of Mayfield’s salary with the Panthers paying out the rest. However, Carolina cut Mayfield during the season and he was claimed off waivers by the Rams, finishing out his contract in Los Angeles.

Mayfield signed a one-year deal with Tampa Bay worth up to $8.5 million for the 2023 season before signing a three-year, $100 million contract with the Buccaneers in 2024. 

In 2024, Mayfield appeared in all 17 games for the Buccaneers and completed 71.4 percent of his passes for 4,500 yards, 41 touchdowns and 16 interceptions to go along with 378 yards rushing and three touchdowns.