What the latest Baker Mayfield report really says about Tampa Bay's confidence in its $47 million franchise quarterback
Baker Mayfield's contract situation in Tampa Bay is getting messier and more fascinating by the week. The Buccaneers quarterback is in the final year of a reworked deal worth $27 million in 2026, with no long-term extension anywhere close to the horizon. And now, according to ESPN's Jeremy Fowler, the franchise tag is emerging as a very real possibility for 2027 -- one that could cost Tampa Bay at least $47 million.Could the Buccaneers use the franchise tag instead of giving Baker Mayfield a new contract?A franchise tag has rarely been part of the public discussion around Mayfield's future, but Fowler believes it remains a realistic possibility."While Mayfield would prefer a long-term deal, he’s not afraid of the franchise tag, which would cost Tampa Bay at least $47M in 2027," ESPN's Jeremy Fowler wrote on his official X account on Sunday.From Mayfield's perspective, the financial risk appears limited.
He has already earned significant money during his NFL career and is due another $40 million this season. That gives him room to be patient rather than force negotiations."Baker has made $131.8 million already in his career & he’ll make $40 million this season," Damage Inc. wrote on X on Sunday. "Getting tagged at $47 million at age 32 won’t faze him at all.
I’m sure he would like another nine-digit contract, but he’s going to make over $200 million in his career regardless."While the financial side remains stable, Mayfield enters the season with something else to prove. Last year started in impressive fashion as both he and the Buccaneers looked like one of the NFL's biggest success stories through the first six weeks.
That momentum faded quickly. Tampa Bay finished 8-9, missed the playoffs for the first time since 2019 and Mayfield's standing across the league took a hit.ESPN's annual survey of NFL executives, coaches and scouts reflected that shift. After previously being viewed among the league's top quarterbacks, Mayfield dropped out of the Top 10 and landed in the honourable mention category.
He also missed out on the Pro Bowl after earning selections in each of his first two seasons with Tampa Bay.Even so, respect for his game has not disappeared. Mayfield was the only quarterback from the NFC South to receive votes in the rankings."Mayfield is a winner," one anonymous NFL coordinator told ESPN's Jeremy Fowler.
"He can make every throw. Fearless. Teammates seem to love to play for him."Mayfield himself has made it clear that contract talks are not his immediate focus, even if discussions have not progressed as hoped."(Contract extension talks) not anywhere close to what we were thinking," Mayfield told Tampa Bay Times NFL reporter Rick Stroud.
"Would love to be here long term, but as of right now that’s not exactly the case. But I’m under contract for 2026. The guys in that locker room, the staff know that I’m still gonna be me. I’m still going to do everything I can to help this team win a Super Bowl. To me, that’s the priority. Everything else will take care of itself."For now, the Buccaneers do not appear under pressure to make an immediate decision.
A strong 2026 season could strengthen Mayfield's case for another long-term deal. If not, the franchise tag offers Tampa Bay another option while keeping its starting quarterback in place.Get the latest Sports News and Live updates. Download the TOI app.