Baker Mayfield, the quarterback for the Tampa Bay Buccaneers, is in the midst of a legal battle with his family’s company, Camwood Capital Management Group, based in Austin. The lawsuit, filed in U.S. District Court, claims that the company failed to adhere to a settlement agreement that required them to repay over $12 million to Mayfield. The quarterback’s father, James W. Mayfield, is the owner of Camwood, with his brother Matt also holding a stake in the business. Mayfield’s wife, Emily, and their company Team BRM, LLC, are also involved in the lawsuit.
Back in August 2023, Mayfield’s legal team requested financial records from Camwood spanning from 2018 to 2023, as well as depositions from witnesses, to trace the flow of money. A settlement agreement was reached in January 2024, which included repayment of the owed amount, refinancing a loan to facilitate repayment, and granting Mayfield access to the company’s financial records. However, none of these conditions were met, leading to the current lawsuit for breach of contract.
The lawsuit reveals that a significant sum of $12.2 million was transferred from Mayfield to various subsidiaries of Camwood between 2018 and 2021 without his consent. These funds were allegedly used for general operational expenses, such as meeting payroll obligations, and were crucial for the companies’ financial stability. Despite these transfers, Mayfield did not receive any ownership stake in the business, as stated in the lawsuit.
Mayfield is now seeking damages of at least $11.74 million, along with interest, legal fees, and any other compensation deemed appropriate by the court. As a native of Austin and a former standout quarterback at Lake Travis High School, Mayfield has had a successful career, including winning the prestigious Heisman Trophy during his college years at Oklahoma. After a lucrative rookie contract with the Cleveland Browns, he signed a substantial deal with the Tampa Bay Buccaneers in 2024.
The article notes that Mayfield’s recent performance on the field has been impressive, with over 2,700 passing yards and 24 touchdowns in the current season. Despite the legal challenges off the field, Mayfield remains a key player for the Buccaneers, who are currently positioned second in the NFC South division with a 5-6 record. As the legal proceedings unfold, the outcome of the lawsuit will have significant implications for Mayfield and his family’s business interests.
