Baker Mayfield contract details, grade: Buccaneers deal loaded with guaranteed money

Baker Mayfield and the Tampa Bay Buccaneers didn't feel like a match made in heaven when he signed last year. Then the 2023 season happened and the quarterback proved everyone wrong. He still has what it takes to lead an NFL franchise. The Bucs have now rewarded him with a new contract and the chance to run it back.

Tampa Bay has already re-signed star wide receiver Mike Evans. They're all-in on building on their surprisingly strong 2023 campaign. Mayfield led the team to a 9-8 record with a dominant upset victory over the Eagles in the Wild Card round of the playoffs. Their season ended with a valiant effort in Detroit resulting in a 31-23 loss to the Lions.

Let's look more closely at the terms of the contract.

Baker Mayfield contract details with Buccaneers

Mayfield agreed to a three-year contract worth upwards of $115 million on Sunday, sticking it out with the team that allowed him to revive his career.

According to Ian Rapoport. the deal includes $50 million guaranteed.

Adam Schefter broke it down by year, with the quarterback getting $30 million in 2024, $30 million in 2025 and $40 million in 2026. He can add $5 million each year via incentives.

Baker Mayfield contract grade: Buccaneers keep their guy

Buccaneers grade: A

Holding onto Mayfield was the most important part of the contract. It was always going to be difficult to replace Tom Brady, but the Bucs found someone who fits their organization.

In terms of the money, they're not overpaying. Mayfield is making less per year that the rival Saints are paying Derek Carr over the next three years. And Mayfield has already won a playoff game for the organization. Meanwhile, New Orleans is wondering exactly how much buyer's remorse they're in for after a shaky first season with Carr.

If Tampa Bay had gone down a similar route with the available free agents on the market or other trade options, they'd be taking a gamble. They know what they're getting with Mayfield.