The number one priority for the Tampa Bay Buccaneers right now should be finalizing a contract extension for quarterback Baker Mayfield, who is entering the final year of the 3-year, $100 million contract signed on March 10, 2024.

That contract turned out to be a bargain for the Bucs, as Mayfield has played at a high level in Tampa since taking over for Tom Brady in 2023. The former top overall pick has found a home in Tampa after bouncing around the league following his unceremonious split with the Cleveland Browns.

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With Mayfield’s contract expiring, the Bucs must now open the checkbook to retain their quarterback.

Going into the season without a new contract will undoubtedly become a distraction for both the player and the team, even if neither party will admit it.

GM Jason Licht has publicly expressed his desire to get a deal done, telling The Drive with TKras,

“Baker is at the forefront of our mind at all times. All of our plans revolve around Baker. That’s something that we’ll get to at some point. I have had a lot of discussions with Baker about the team. We texted during the draft after some of the picks. I know he was excited about the players that we took. We have a great relationship. And listen, nobody here wants Baker to be playing for any other team, so I’ll just leave it at that.”

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It sounds like Licht is optimistic that a deal will be reached. It would be in Tampa’s best interest to extend Mayfield before the season starts. If not, the price is only going to go up.

Spotrac estimates Mayfield’s next contract to be 4-years and $214 million, an average annual value of $53 million. That would place Mayfield just outside the top-5 in AAV. Dak Prescott is the NFL’s highest-paid QB, with an AAV of $60 million.

While $53 million per year sounds steep, it just about mirrors the cost of fellow QBs Jared Goff, Brock Purdy, and Justin Herbert. The price of quarterbacks is only going to rise, with Lamar Jackson expected to reset the market with his next contract.

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Tampa should not hesitate to sign Mayfield to an extension at his market value. It is imperative to have a good QB in the NFL, and the Bucs have one.

The Bucs were fortunate to have Mayfield fall into their laps after Tom Brady retired. They should not risk having to start over at QB. Mayfield, on the other hand, was fortunate that Tampa believed in him and gave him a shot to reignite his career.

Now is the time to officially extend the partnership.

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