Baker Mayfield sues his father’s company; NFL QB claims $12 million was stolen from him | News, results, highlights, statistics and rumors

According to KOCO News’ Jonathan Greco, Tampa Bay Buccaneers quarterback Baker Mayfield, along with his wife and company, have sued his father’s company over funds he says were “illegally” withdrawn from his accounts.

“The lawsuit alleges that a collection of related entities with common ownership transferred more than $12 million from Mayfield to themselves without authorization, proper documentation or adequate accounting of the transactions,” Greco said. “The defendants then allegedly used the money as they wished, ‘including, among other things, to finance acquisitions or cover general operating costs (e.g., meeting payroll)’,” the lawsuit states.

According to KXAN’s Billy Gates, Mayfield and his representatives reached a confidential settlement with the defendants in January.

Under the agreement, Camwood Capital Management Group and its subsidiaries were required to begin paying $11.7 million, plus interest, in September. It also had to release 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 lawsuit.

Mayfield’s lawyers argued in the lawsuit that Camwood Capital “did not pay back even a dollar as part of the settlement agreement” or provide transparency in its finances, according to Gates.

Greco shared a portion of the lawsuit in which Mayfield’s attorneys claimed that Camwood Capital “had no intention of making Plaintiffs whole when it entered into the settlement agreement.”

The money was reportedly taken from Mayfield from 2018 to 2021, which overlaps with his tenure with the Cleveland Browns. The No. 1 pick in the 2018 draft, he received a fully guaranteed, four-year, $32.68 million contract that included a $21.9 million signing bonus.

To date, the 29-year-old’s NFL career earnings are nearly $85.3 million, according to Spotrac. That number will rise to $155.3 million if he reaches the term of his three-year contract with the Buccaneers.