Tampa Bay Buccaneers quarterback Baker Mayfield filed a lawsuit against his father and brother’s company, Camwood Capital Management Group, for nearly $12 million for breach of a settlement agreement, according to court documents.
In the lawsuit, Mayfield alleges that his father and brother’s companies took millions of dollars from him without his knowledge, and have now failed to meet payment targets to repay that money as part of a settlement agreement.
The civil lawsuit, filed in U.S. District Court on Nov. 22, lists Mayfield, his wife Emily and their company Team BRM, LLC as the plaintiffs. Along with Camwood Capital, the lawsuit lists the defendants as Texas Contract Manufacturing Group, Unitech Tool & Machine Inc., Apex Machining, Inc. and Lor-Van Manufacturing Inc.
James W. Mayfield, Baker’s father, is the senior managing director of The Camwood Group, and Matt Mayfield, Baker’s brother, is the managing director. Camwood Capital, a private equity firm in Austin, Texas, is one of two divisions of the investment firm The Camwood Group.
The lawsuit says the defendants, through “a collection of interconnected entities with common ownership,” transferred more than $12 million from the plaintiffs to themselves without the plaintiffs’ knowledge.
From 2018 to 2021, the defendants transferred “substantial sums of money” from Baker and Emily Mayfield’s personal accounts to Team BRM’s accounts and then to Texas Contract Manufacturing Group’s accounts. The Mayfields believe the defendants took the money without thinking it needed to be repaid, per the lawsuit.
The defendants then used the money “however (they) pleased,” per the lawsuit, including funding acquisitions and covering general operating expenses like payroll obligations.
After the plaintiffs became aware of the transfers, the two parties entered into a settlement agreement in January, requiring the defendants to pay a total of $11,741,000 plus interest. The payments were scheduled to begin in September. Camwood Capital was required to pay Team BRM an initial payment of $250,000 on or before Sept. 30.
Another $250,000 was due on or before Dec. 31. An additional $3 million, plus interest, is due annually in December 2025, December 2026 and December 2027. The final payment, listed for $2,241,000 plus interest, is due December 2028.
As of Nov. 22, the Mayfields have not received any money owed from the settlement, per the lawsuit.
The defendants were also obligated to give the plaintiffs access to their records and refinance an existing loan to free up capital to repay the Mayfields as per the settlement. The defendants have not completed either, per the lawsuit.
Under the settlement agreement, the failure to meet the contract requirements is an event of default, allowing the Mayfields to demand full repayment of the outstanding balance immediately, per the lawsuit.
Camwood Capital did not immediately respond to a request for comment.
After Tom Brady retired in February 2023, Mayfield inked a one-year deal with Tampa Bay that offseason and competed with Kyle Trask for the starting job. The 2018 No. 1 pick emerged as QB1 and delivered one of his best seasons as a professional, leading the Bucs to the NFC South title and a wild-card win.
In March, the Buccaneers signed Mayfield to a three-year, $100 million contract, including $50 million guaranteed with a max value of $115 million, according to league sources.
Mayfield has completed 71.4 percent of passes for 2,799 yards and 24 touchdowns against nine interceptions in 11 games this season.
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