Baker Mayfield, the quarterback for the Tampa Bay Buccaneers, filed a lawsuit against his father’s company, Camwood Capital Management Group, on November 22, 2024, accusing it of breach of contract. The lawsuit, filed in U.S. District Court in Texas, claims that between 2018 and 2021, the company obtained $12 million from Mayfield and his wife, Emily, as well as their business, Team BRM, LLC (TBRM), without their knowledge or consent. The Mayfields allege that the funds were transferred primarily to a subsidiary of Camwood, Texas Contract Manufacturing Group (TCMG), and were used to cover operational expenses without proper accounting or explanations.
The lawsuit reveals that the Mayfields’ personal and business accounts were drained during this period, with the funds being used by Camwood Capital for various expenses, such as payroll. The Mayfields contend that they were unaware of how their assets were being used, and they assert that no equity in the company was provided in exchange for their financial support. When the Mayfields began to question the misuse of their money, they claimed that Camwood obstructed their inquiries, avoided providing answers, and fabricated explanations to cover up their actions.
In response to these issues, the Mayfields filed a petition in August 2023, seeking information on the potential misappropriation of funds. However, as the situation developed, it became clear that Camwood Capital had no intention of repaying the money. The lawsuit highlights that despite a settlement agreement being reached in January 2024, where Camwood was to repay the $11.7 million plus interest, the company failed to meet its obligations, including refinancing loans and providing the Mayfields access to their financial records.
The settlement agreement, which was to begin with payments on September 30, 2024, has not been honored by Camwood Capital. To date, the company has not repaid any of the money owed under the agreement, nor have they taken the steps necessary to fulfill their obligations, such as refinancing their loan. The Mayfields claim that these actions are part of a continuing pattern of deception and avoidance by the company, as they have yet to provide access to the necessary financial information.
Baker Mayfield, who was selected first overall in the 2018 NFL Draft by the Cleveland Browns, is currently playing for the Buccaneers. After a successful season in 2023, where he led the team to an NFC South title and earned a Pro Bowl selection, Mayfield re-signed with the Buccaneers on a three-year, $100 million contract. The ongoing legal battle with his father’s company has added a personal dimension to his professional life, as he seeks to recover the funds he believes were wrongfully taken from him and his family.
