Baker Mayfield has escalated a legal battle over an alleged $12 million payment from his father's financial firm.
Mr. Mayfield last year sued his father's company, Camwood Ventures, and its subsidiaries over $12 million in unaccounted for funds.
Mayfield's father, James W. Mayfield, is Camwood's majority owner, and the quarterback's brother Matt is also an interested party.
Last week, Mayfield and his wife Emily filed a new lawsuit against Camwood, alleging that the terms of a confidential settlement reached earlier this year have not been fulfilled. According to Texas NBC affiliate KXAN.
The terms of the initial settlement were for $11.7 million, plus interest, to be repaid beginning in September of this year.
Mr. Mayfield's lawyers also argued that the aforementioned settlement included refinancing the loan to help repay Mr. Mayfield and access to Mr. Camwood's books.
However, Mayfield's lawyers claim he has not yet received the money he is owed or access to his books.
“To date, Camwood Capital has not repaid a dollar under the settlement agreement, Defendants have failed to refinance existing loans, and Defendants have not provided Plaintiffs with access to their books and records. No,” the lawsuit claims. “As a result, plaintiffs were left with no choice but to sue for breach of the settlement agreement in order to recover their wrongfully taken assets.”
Mayfield's lawsuit alleges that Camwood took $12.2 million without Mayfield's knowledge and transferred it to multiple subsidiaries between 2018 and 2021.
The money was used to cover operating costs for the business, according to the complaint.
His lawsuit seeks “at least” $11.74 million (plus interest, attorney's fees and other costs) and “such other relief as the court deems just and appropriate.”
Mayfield is the starting quarterback for the Buccaneers, who are 5-6 this season and are one game behind the Falcons for first place in the NFC South.
