According to the Tampa Bay Times, Mayfield will get $30 million in 2024 and $30 million in 2025, with a $20 million guarantee for the second year of the agreement. In 2026, the quarterback’s pay would rise to $40 million.

After playing for four teams in the previous three seasons, Mayfield revived his career in 2023 when he signed a one-year contract with the Bucs after Tom Brady retired and helped the team win the NFC South for the third time in a row.

During his career-best 4,044 yards and 28 touchdowns, the No. 1 overall pick from the 2018 draft avoided costly errors that marred his past tenure with the Cleveland Browns, Carolina Panthers, and Los Angeles Rams.