Will Buccaneers, Baker Mayfield work out contract extension during Week 9 bye?

Previous stories hinted that the Tampa Bay Buccaneers and quarterback Baker Mayfield could work out a contract extension during the team's bye week, which the Buccaneers will enter after their matchup at the New Orleans Saints (1-6) on Sunday. 

For an article published on Wednesday, NFL insider Jeremy Fowler of ESPN suggested the Buccaneers and Mayfield won't sign any agreement before Tampa Bay begins preparing for its Week 10 home game versus the New England Patriots.

How Buccaneers, Baker Mayfield feel about their current arrangement

"Mayfield, a 2027 free agent, is producing at a high clip despite significant injuries at offensive line, running back and wide receiver," Fowler explained. "Not many quarterbacks are throwing the ball with more confidence. The Bucs and Mayfield will play out the season and can work on an extension after that. The Bucs are projected to have around $48M in 2026 cap space, which they can easily lower by reworking Mayfield's $52M hit. Both sides are happy with this arrangement."

Mayfield was considered a bargain for the Buccaneers before he received guaranteed money for 2026 and before he emerged as a legitimate MVP candidate as he guided Tampa Bay to a 5-2 record. ESPN stats show that Mayfield ranks 11th in the NFL among qualified players with a 63.5 adjusted QBR, sixth with 1,767 passing yards and tied for sixth with 13 touchdown passes on the season. 

Why Buccaneers, Baker Mayfield aren't in a rush to ink an extension

According to Spotrac, 11 quarterbacks are currently on deals that include average annual values of over $50M per year. That's noteworthy regarding Mayfield's situation, as the market for players at the position is reset just about every offseason. 

"Mayfield has proof of concept, which means his per-year average should probably have a '5' in front of it," Fowler continued. "The wild card is (Buccaneers owners) the Glazer family, which hasn't always spent big money on players. But Mayfield could look to add a tax on this deal, due to leverage and the below-market deal on which he's currently playing."

As of Wednesday morning, DraftKings Sportsbook had Mayfield third among the betting favorites at +700 odds to claim MVP honors for the ongoing season. Where he finishes in voting for that award will likely impact how much of a pay raise will be attached to his future extension.