What is Baker Mayfield's Net Worth?
What is Baker Mayfield's Net Worth?
By Edcel Panganiban August 24, 2024 09:03
The energetic and crafty quarterback named Baker Mayfield first appeared in the National Football League (NFL) in 2018. A highly competitive, vocal player with a raft of natural talent, Mayfield has arguably become one of American football's most recognizable figures within a couple of years. In this article, we break down Baker Mayfield's net worth and provide a digestible overview of his professional career and the revenue streams that have contributed to it to establish exactly where he stands within the growing list of higher-earning NFL players.
Experienced Career and Achievements
The Cleveland Browns drafted Baker Mayfield after he won the Heisman Trophy as a star player for the University of Oklahoma. He was the No.1 overall pick in the 2018 NFL Draft by the Cleveland Browns after possessing a stellar college football career.
NFL Draft and Early Career
As the number one overall pick, Mayfield signed a four-year contract with the Cleveland Browns worth $32.68 million, including a $21.85 million signing bonus, on June 19, 2018. The initiation of that contract allowed Mayfield to make his money in pro football.
Notable Achievements
During his rookie season, Mayfield set the record for most touchdown passes thrown in a season by an NFL quarterback and looked like exactly what we all thought he could be: a franchise quarterback. Not only did this solidify his budding on-field reputation, but it also increased his overall marketability away from the game.
Team Changes
After four seasons with the Cleveland Browns, Mayfield's career went off the rails. He was traded to the Carolina Panthers in 2022 and signed (briefly) with the Los Angeles Rams before joining the Tampa Bay Buccaneers in 2023. These team changes have affected his income, which is significantly reflected in his net worth.
Income Sources
NFL Salaries
- Cleveland Browns (2018-2021): $33 million
- Carolina Panthers (2022): $3.5 million
- Los Angeles Rams (2022): 1.3 million
- Tampa Bay Buccaneers (2023): 4 million
Endorsement Deals
The Cleveland quarterback has been a brand favorite due to his charisma and popularity. His endorsement deals include Nike, Hulu, and Progressive Insurance. The specifics of those deals are not made public, but they play a large part in his overall net worth.
Investment and Business deals
Mayfield has offered little publicly about his investments or business endeavors off the gridiron. Of course, as a professional athlete, he surely has financial advice from people who can help him leverage his wealth through investments.
Financial Problems and Controversies
A notable financial scandal emerged in August 2023 when Mayfield filed a court petition in Austin, Texas. The petition requested financial records from an investment firm for 2018 through 2023 and demanded depositions of six company managers, including two founded by Mayfield's dad.
The petition sought $12 million Mayfield had invested in the companies. It was running out of 60 percent of his net profit for a quarter after tax and agents' commissions. This lawsuit implies that Mayfield may have, in fact, lost more than $50M through bad investments or mishandling his financial portfolio.
Comparison to Other NFL Quarterbacks in Terms of Net Worth
Next to other QBs and free agents, Baker Mayfield comes near the bottom of the pack even with that first-overall pick price tag. For instance:
- Patrick Mahomes (Kansas City Chiefs): $70 million
- Deshaun Watson (Cleveland Browns): $50 million
- Lamar Jackson (Baltimore Ravens): $40 million
These figures really underline the effects that long-term, high-value contracts and consistent performance can have on a player's overall net worth. That is some bad Mayfield karma; his changing teams and the financial headlines he generated recently likely contribute to why those more established quarterbacks have the edge on him.
Future Earning Potential
Despite all the financial hurdles, Baker Mayfield has massive earning opportunities. His current deal with the Tampa Bay Buccaneers is a one-year, $4 million contract. If he has a big year, he may get an even bigger long-term deal from either the Buccaneers or someone else.
And Mayfield would be the perfect age for a team entering what may also be its prime. If he can resurrect his career, that likely will lead to new endorsement deals and higher-paying contracts.
Baker Mayfield's net worth is about $6M by 2024. Mayfield went from being the No. 1 overall pick with a lucrative rookie contract to early signs of team changes and financial controversy. This example illustrates how quickly professional sports fortunes can shift on finances alone. While that figure might lag some of his peers, Mayfield appears to have no issues with talent, marketability, or prospects for career resurgence and should be in strong financial shape moving forward. As he walks into the NFL, his on-field performance and off-field financial management will impact his net worth.
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