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Tampa Bay Buccaneers quarterback Baker Mayfield, along with his wife and company, has sued the company belonging to his father over money he alleges was “improperly taken” from his accounts, according to Jonathan Greco of KOCO News.
“The lawsuit says a collection of interconnected entities with common ownership transferred more than $12 million from Mayfield to themselves without authorization, proper documentation or adequate accounting of the transactions,” per Greco. “The defendants then allegedly used the money however they desired, ‘including to fund acquisitions or to cover general operating expenses (such as to meet payroll obligations),’ according to the lawsuit.”
According to KXAN’s Billy Gates, Mayfield and his representatives reached a confidential settlement with the defendants in January.
As part of the agreement, Camwood Capital Management Group and its subsidiaries were required to begin making payments on $11.7 million plus interest in September. It also had to turn over its financial records.
The quarterback’s brother, Matt, has a stake in the company, while his father, James, owns Camwood. Team BRM LLC and Baker’s wife, Emily, are also listed as plaintiffs in the suit.
Mayfield’s lawyers argued in the suit that Camwood Capital “has not repaid even one dollar under the Settlement Agreement” or provided any transparency into its finances, per Gates.
Greco shared a portion from the suit in which Mayfield’s lawyers asserted Camwood Capital “had no intention of making Plaintiffs whole when they entered into the Settlement Agreement.”
The money was allegedly taken from Mayfield from 2018 to 2021, which overlaps with his tenure with the Cleveland Browns. As the No. 1 pick in the 2018 draft, he received a fully guaranteed four-year, $32.68 million contract, which included a $21.9 million signing bonus.
To date, the 29-year-old’s career earnings from the NFL total almost $85.3 million, per Spotrac. That number will rise to $155.3 million if he sees out the duration of his three-year pact with the Buccaneers.
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