Buccaneers QB Baker Mayfield is suing his father’s company for nearly $12 million

Tampa Bay Buccaneers quarterback Baker Mayfield filed a federal lawsuit against a financial firm owned by his father, James Mayfield, accusing the company of failing to repay nearly $12 million taken without his permission.

The 29-year-old NFL star filed the $11.7 million civil lawsuit in the U.S. District Court for the Western District of Texas on Friday.

The suit alleges that from 2018 to 2021, Camwood Capital Management Group transferred more than $12 million from Mayfield and his wife “without his authorization, proper documentation or adequate accounting of the transactions” to a subsidiary called Texas Contract Manufacturing Group.

Camwood allegedly used the money “wherever they wanted,” the suit says, including to finance acquisitions or to cover general operating expenses.

“During the period when Plaintiffs’ funds were transferred to Defendants, Plaintiffs were the primary source of funding and capitalization for Defendants. In return, Plaintiffs received nothing,” the suit states.

When Mayfield found out and questioned the company about it, Camwood allegedly avoided Mayfield’s inquiries and “invented fictitious explanations for their actions,” according to the lawsuit.

Camwood did not immediately respond to a request from NBC News for comment Tuesday.

NBC affiliate WFLA-TV of Tampa reported that Camwood is owned by James Mayfield and that his son, Matt Mayfield — Baker Mayfield’s brother — has a stake in it.

Attempts to reach James Mayfield and Matt Mayfield were unsuccessful. They are not named as defendants, but are listed in the lawsuit as members of the company.

In January, Baker Mayfield and the company reached a settlement. Under the agreement, Camwood was required to repay $11.7 million plus interest beginning Sept. 30, the lawsuit said. The company also had to refinance an existing loan to free up capital to repay Mayfield, as well as give him access to its books and records, the suit said.

However, the lawsuit accuses Camwood of breaching the settlement agreement.

“It is now clear that Defendants did not intend to make Plaintiffs whole when they entered into the Settlement Agreement,” the lawsuit states. “To date, Camwood Capital has not repaid a single dollar pursuant to the settlement agreement, Defendants have failed to refinance their existing loans, and Defendants have not provided Plaintiffs with access to their books and records.”

The suit says that because Camwood has not followed through on the settlement agreement, Mayfield had no choice but to file a lawsuit.