Tampa Bay Buccaneers quarterback Baker Mayfield has filed a multi-million dollar lawsuit against a company that is owned by his father.
According to a report from KXAN in Austin, Mayfield’s attorneys filed a U.S. District Court lawsuit against Camwood Capital Management Group on Nov. 22. The lawsuit alleges that the firm, which is owned by Mayfield’s father James Mayfield, failed to fulfill their end of a settlement agreement that included a $12 million payment to the NFL star.
The lawsuit is the latest development in a dispute that dates back to at least August 2023, when Mayfield’s attorneys filed a petition asking for Camwood Capital’s financial records from 2018-23 plus depositions from witnesses. Lawyers for Mayfield say a total of $12.2 million was transferred to Camwood Capital between 2018-21 without Mayfield’s permission. The lawsuit claims the money was used by the firm “to cover general operating expenses (such as to meet payroll obligations).”
The money was said to be the primary source of funding for the company, but Mayfield did not receive equity or any stake in Camwood Capital. Mayfield’s brother, Matt Mayfield, has a stake in the company.
Mayfield’s representatives say a “confidential settlement and release agreement” was reached in January 2024. Part of the settlement involved Camwood Capital repaying roughly $11.7 million plus interest to Mayfield beginning in September 2024. The lawsuit states that none of the conditions of the settlement have been met.
Mayfield, his wife Emily and the couple’s company Team BRM, LLC are seeking “no less than” $11.74 million plus interest, costs and attorney fees in the lawsuit.
The 29-year-old Mayfield revived his career after signing with the Bucs last season. He threw for 4,044 yards, 28 touchdowns and 10 interceptions while leading Tampa Bay to the playoffs. Mayfield then signed a three-year, $100 million contract with the Buccaneers this offseason.
