Report: Buccaneers Restructure Mayfield’s Contract

The Tampa Bay Buccaneers are creating substantial cap space through contract restructures, having already reworked deals for safety Antoine Winfield Jr. and Tristan Wirfs, with their star quarterback’s contract next in line for restructuring.

The Buccaneers are restructuring Baker Mayfield’s 2024 three-year, $110 million contract extension, converting a significant portion into a bonus to reduce the team’s salary cap liability.

According to NFL Insider Aaron Wilson, the Buccaneers have restructured Baker Mayfield’s contract, converting his $30 million base salary into a guaranteed roster bonus and reducing the base salary to $2 million. The team also added a void year in 2029, resulting in a lower cap hit of $23.875 million and freeing up approximately $14 million in cap space.

Via NFL Insider Aaron Wilson,

“Same compensation for 2025 for Baker Mayfield, lower salary-cap figure as #Buccaneers restructured deal, per records: new cap figure $23.875M with conversion of $30M base salary to roster bonus, down to $2M base salary, cap was previously $38.275M. Money treated as option after signing bonus for cap purposes. $10M total guaranteed added in addition to $50M total guarantee from last year’s contract. Added 2029 voidable year for proration purposes”

The Buccaneers’ recent contract restructures, including those of Antoine Winfield Jr. and Tristan Wirfs, have collectively freed up approximately $35.72 million in cap space. According to Over the Cap, the team now has around $16,540,629 in available cap space. These moves are likely intended to provide long-term financial flexibility rather than pave the way for a specific signing.

Baker Mayfield’s contract restructure doesn’t impact his overall earnings; instead, it accelerates payment by converting his base salary to a roster bonus. This mutually beneficial move aids both Mayfield, entering his second season under the new contract and third with the Buccaneers, and the team, which continues to work towards building a competitive roster.